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MPs seek to tighten up Stamp Duty records

Assembly MPs passed a bill to tighten up Stamp Duty records after it was found that Government missed out on $6 million in funds through non-payment last year.

The Registrar General (Recording of Documents) Amendment Act 1999 will allow the Registrar General to determine if stamp duty has been properly paid on the deed of conveyance before registering the details in the notice.

Home Affairs Minister Paula Cox said: "The Government is committed to introducing stringent standards of fiscal responsibility including new standards of revenue management. Stamp duty is a major source of revenue and concern has been expressed by the Accountant General that significant revenues are being lost because of lack of compliance with the Stamp Duties Act 1976.

Last year $16.3 million of stamp duty was expected but the actual figure was down by $6 million.

Ms Cox said: "This Government does not mean to cast any aspersions on the character or honesty of anyone by its actions.

"It's believed that in most cases the errors in the payments are simply miscalculations or reliance on incorrect valuations.'' She told the House: "This bill is about setting standards.''