PAPUA NEW GUINEA

Stamp Duties (2011 Budget) (Amendment) Act 2010.

No. 20 of 2010.

Certified on: 19 MAY 2011

Stamp Duties (2011 Budget)(Amendment) Act 2010.

ARRANGEMENT OF SECTION.

Conveyances or transfers on sale of real property (Amendment of Schedule 1).
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No. 20 of 2010.

AN ACT

entitled

Stamp Duties (2011 Budget)(Amendment) Act 2010.

Being an Act to amend the Stamp Duties Act (Chapter 117),

MADE by the National Parliament to come into operation on 1 January 2011.

CONVEYANCES OR TRANSFERS ON SALE OF REAL PROPERTY (AMENDMENT OF SCHEDULE 1).

Sub-item (i) of Item 5(a) of Schedule 1 of the Principal Act is repealed and replaced with the following:

"(i) neither he nor (if he is married) his spouse has previously owned a residential property in Papua New Guinea or elsewhere and he is purchasing the property for use solely as his or their (if he is married) principal residence –

Where the value –
		
Does not exceed K500,000.00
	Nil	
Exceeds K500,000.00	5% of the Value in excess of K500,000.00".	
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I certify that the above is a fair print of the Stamp Duties (2011 Budget)(Amendment) Act 2010 which has been made by the National Parliament.

Clerk of the National Parliament.
19 MAY 2011

I certify that the above is a fair print of the Stamp Duties (2011 Budget)(Amendment) Act 2010 which was made by the National Parliament on 23 November 2010.

Speaker of the National Parliament.
19 MAY 2011