When is an instrument or ELN transaction document properly stamped
491 When is an instrument or ELN transaction document properly stamped
An instrument is properly stamped if it is stamped under section 455(1)(c), 455A(1)(b) or 492.
An ELN transaction document is properly stamped if it is stamped under section 455A(1)(b).
An application to register or transfer a vehicle is taken to be properly stamped if—
duty imposed on the application and any assessed interest or penalty tax on the application is paid in full; or
no duty is imposed on the application because of an exemption under this or another Act.
Also, a mortgage, security instrument or mortgage package is taken to be properly stamped for the following provisions if a self assessor has deferred the endorsement of the instrument under section 455(4) as in force before 1 July 2008—
• section 252(2)
• section 258(2)(a) or (c)
• section 262(1)(a) or (b)
• schedule, definition collateral mortgage.
This Act’s bill:Explanatory memorandum
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