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These stamps replaced stamp duty ones. The first adhesive duty stamps were issued in 1918 with the portrait of King George V. In 1939 this design was replaced by a numeral type which was reused in 1966 with decimal values ranging from 1c to $200. Reprints and additional values continued until c.1979.
Indian laws require stamp duty payments on a limited category of transaction documents. Broadly, documents affecting rights and titles to property require stamp duties to be paid. The central government requires stamp duty to be paid on several classes of transaction documents, primarily focused on securities, under the Indian Stamp Act, 1899. [5]
Colonial governments also raised money from fees on wills and stamp duty, which is a tax imposed on certain kinds of documents. In 1880, the Colony of Tasmania imposed a tax on earnings received from the profits of public companies. [citation needed] Income taxes were introduced in the late 19th century in a few of the colonies before Federation.
The tax was introduced by the Howard government and commenced on 1 July 2000, replacing the previous federal wholesale sales tax system and designed to phase out a number of various State and Territory Government taxes, duties and levies such as banking taxes and stamp duty.
A block of four £2 "Roo" stamps showing the printer's imprint in the selvedge 1d King George V, used at Sydney in 1916. The six self-governing Australian colonies that formed the Commonwealth of Australia on 1 January 1901 had operated their own postal service and issued their own stamps – see articles on the systems on New South Wales (first stamps issued 1850), Victoria (1850), Tasmania ...
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It was introduced by the Howard Government on 1 July 2000, replacing the previous federal wholesale sales tax system and designed to phase out the various state and territory taxes such as banking taxes, stamp duty and land value tax. While this was the stated intent at the time, the States still charge duty on a various transactions, including ...
A government report [16] in 1986 for Brisbane, Queensland advocated a land tax. The Henry Tax Review of 2010 commissioned by the federal government recommended that state governments replace stamp duty with land value tax.