(1) The amount of duty
payable on the grant or transfer of a licence for a vehicle is worked out
under this section (rounded down to the nearest 5 cents) unless section 250
applies to the grant or transfer of the licence.
(2) For the grant or
transfer of a licence for a vehicle that is not a heavy vehicle, the amount of
duty is —
(a) if
the dutiable value of the vehicle does not exceed $25 000 — 2.75% of the
dutiable value; or
(b) if
the dutiable value of the vehicle exceeds $25 000 but does not exceed $50 000
— R% of the dutiable value, where R is determined in accordance with the
following formula —
(rounded to 2 decimal places);
where —
DV is the dutiable
value;
or
(c) if
the dutiable value of the vehicle exceeds $50 000 — 6.5% of the dutiable
value.
(3) For the grant or
transfer of a licence for a heavy vehicle, the amount of duty is the lesser of
—
(a) 3%
of the dutiable value; and
(b) $12
000.
[Section 236 amended: No. 12 of 2008 s. 24.]