14Stamp duty not payable in respect of deposits

14 Stamp duty not payable in respect of deposits

(1) Stamp duty or any similar tax is not payable under a law of the Commonwealth or of a State or Territory in respect of: (a) any document relating to the making or repayment of a deposit or to the transmission of rights existing in respect of a deposit; (b) cheques or drafts drawn by a bank on behalf of the Commonwealth in connexion with the repayment of a deposit; or (c) any document relating to the payment of interest in respect of a deposit including cheques or drafts drawn by a bank on behalf of the Commonwealth for the payment of such interest. (2) In this section:

bank includes, but is not limited to, a body corporate that is an ADI (authorised deposit‑taking institution) for the purposes of the Banking Act 1959.