WEDNESDAY, APRIL 16, 1986
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HIGHER FEES WILL YIELD $40 MILLION
****
A BILL PROVIDING FOR INCREASED FEES ON THE ANNUAL REGISTRATION OF MOTOR VEHICLES, PROVISIONAL AND FULL DRIVING LICENCES AND DRIVING TESTS WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
IN MOVING THE ROAD TRAFFIC (DRIVING LICENCES REGULATIONS AND REGISTRATION AND LICENSING OF VEHICLES REGULATIONS) (AMENDMENTS) BILL 1986, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID THE REVISED RATES HAD COME INTO EFFECT ON FEBRUARY 26 UNDER A PUBLIC REVENUE PROTECTION ORDER.
HE SAID THE INCREASES WERE ESTIMATED TO YIELD $40 MILLION IN 1986-87.
EXCLUSION FROM STAMP DUTY CHARGE SOUGHT *****
A BILL SEEKING TO EXCLUDE FROM THE CHARGE TO STAMP DUTY BEARER: INSTRUMENTS WHICH ARE IN RESPECT OF LOAN CAPITAL AND OF UNITS IN UNIT TRUSTS INVESTING ONLY IN SUCH INSTRUMENTS WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE STAMP DUTY (AMENDMENT) BILL 1986, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE SAID THE BILL WOULD GIVE LEGISLATIVE EFFECT TO THE PROPOSAL IN THIS YEAR'S BUDGET WITH EFFECT FROM APRIL 1 THIS YEAR.
DEBATE ON THE BILL WAS ADJOURNED.
EXTENSION OF ESTATE DUTY EXEMPTION SOUGHT
* * *
A BILL PROPOSING TO EXTEND EXEMPTION FROM ESTATE DUTY IN RESPECT OF THE PRINCIPAL MATRIMONIAL HOME TO ALL CASES IN WHICH THE DECEASED DIED INTESTATE, LEAVING A SPOUSE, WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE ESTATE DUTY (AMENDMENT) BILL 1986, THE FINANCIAL SECRETARY, THE HON SIR JOHN BREMRIDGE, SAID THIS EXTENSION PROPOSAL WAS CONTAINED IN HIS 1986 BUDGET SPEECH AND THE BILL WAS INTENDED TO GIVE IT LEGISLATIVE EFFECT.
+THE COST TO REVENUE IS ESTIMATED AT $8 MILLION PER ANNUM, + HE SAID.
DEBATE ON THE BILL WAS ADJOURNED.
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