Duties Act 1997

The amendments made by the State Revenue Legislation Amendment (Budget Measures) Act 2005 to sections 162M and 163ZL are taken to have effect as if they had commenced on the date on which the Bill for the State Revenue Legislation Amendment (Budget Measures) Act 2005 was introduced in the Legislative Assembly (the effective date).

Accordingly, section 162M (6) applies in respect of any vendor duty transaction that occurs on or after the effective date and section 163ZL (3) and (4) apply in respect of any relevant disposal that is made on or after the effective date.

If a vendor duty transaction or relevant disposal that occurred or was made before the date of assent to the State Revenue Legislation Amendment (Budget Measures) Act 2005 becomes chargeable with duty or additional duty as a result of the amendments made by that Act to sections 162M and 163ZL, the vendor duty transaction or relevant disposal is taken (if the duty or additional duty has not already been paid) to become chargeable with that duty or additional duty on the date of assent to that Act.

In section 162M, as amended by the State Revenue Legislation Amendment (Budget Measures) Act 2005—

a reference to an ad valorem duty transaction includes an ad valorem duty transaction that occurred before the effective date, and

a reference to Chapter 2 of this Act includes a reference to any corresponding provisions of the Stamp Duties Act 1920 that have been repealed.