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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
State Revenue Legislation Amendment
Bill 2000
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Debits Tax Act 1990 No 112 2
4 Amendment of Duties Act 1997 No 123 2
5 Amendment of Land Tax Management Act 1956 No 26 2
6 Amendment of Pay-roll Tax Act 1971 No 22 2
7 Amendment of Premium Property Tax Act 1998 No 79 2
8 Amendment of Roads Act 1993 No 33 3
9 Amendment of Taxation Administration Act 1996 No 97 3
Schedules
1 Amendment of Debits Tax Act 1990 4
2 Amendment of Duties Act 1997 5
3 Amendment of Land Tax Management Act 1956 21
4 Amendment of Pay-roll Tax Act 1971 23
5 Amendment of Premium Property Tax Act 1998 25
6 Amendment of Roads Act 1993 26
7 Amendment of Taxation Administration Act 1996 27
I certify that this PUBLIC BILL, which originated in the LEGISLATIVE ASSEMBLY, has
finally passed the LEGISLATIVE COUNCIL and the LEGISLATIVE ASSEMBLY of NEW
SOUTH WALES.
Clerk of the Legislative Assembly.
Legislative Assembly,
Sydney, , 2000
New South Wales
State Revenue Legislation Amendment
Bill 2000
Act No , 2000
An Act to make miscellaneous amendments to certain State revenue legislation;
and for other purposes.
I have examined this Bill, and find it to correspond in all respects with the Bill as
finally passed by both Houses.
Chairman of Committees of the Legislative Assembly.
Clause 1 State Revenue Legislation Amendment Bill 2000
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the State Revenue Legislation Amendment Act 2000.
2 Commencement
(1) This Act commences on the date of assent, except as provided by this
section.
(2) The following provisions commence, or are taken to have
commenced, on the dates indicated:
Schedule 1 on 4 February 2000
Schedule 2 [6][16], [44] and [54] on 1 July 2000
Schedule 2 [17][43], [53] and [55] on 1 March 2000
Schedule 2 [45] on 1 February 2000
Schedule 2 [47] on 11 November 1999
Schedule 2 [48] on 1 December 1999
Schedule 2 [46] and [50] on 23 May 2000
Schedule 2 [51] on 22 September 1999
3 Amendment of Debits Tax Act 1990 No 112
The Debits Tax Act 1990 is amended as set out in Schedule 1.
4 Amendment of Duties Act 1997 No 123
The Duties Act 1997 is amended as set out in Schedule 2.
5 Amendment of Land Tax Management Act 1956 No 26
The Land Tax Management Act 1956 is amended as set out in
Schedule 3.
6 Amendment of Pay-roll Tax Act 1971 No 22
The Pay-roll Tax Act 1971 is amended as set out in Schedule 4.
7 Amendment of Premium Property Tax Act 1998 No 79
The Premium Property Tax Act 1998 is amended as set out in
Schedule 5.
Page 2
State Revenue Legislation Amendment Bill 2000 Clause 8
8 Amendment of Roads Act 1993 No 33
The Roads Act 1993 is amended as set out in Schedule 6.
9 Amendment of Taxation Administration Act 1996 No 97
The Taxation Administration Act 1996 is amended as set out in
Schedule 7.
Page 3
State Revenue Legislation Amendment Bill 2000
Schedule 1 Amendment of Debits Tax Act 1990
Schedule 1 Amendment of Debits Tax Act 1990
(Section 3)
[1] Section 3 Definitions
Insert "or a non-profit organisation having as one of its objects a charitable,
benevolent, philanthropic or patriotic purpose," after "institution," in
paragraph (a) (v) (A) of the definition of excluded debit in section 3 (1).
[2] Section 3 (1)
Insert "organisation," after "institution," where secondly occurring in
paragraph (a) (v) of the definition of excluded debit in section 3 (1).
[3] Section 3 (1)
Insert "organisation," after "institution," where secondly occurring in
paragraph (a) (vi) of the definition of excluded debit in section 3 (1).
[4] Schedule 3 Savings and transitional provisions
Insert "State Revenue Legislation Amendment Act 2000" at the end of
clause 1A (1) of Schedule 3.
Page 4
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
Schedule 2 Amendment of Duties Act 1997
(Section 4)
[1] Section 54 Change in trustees
Omit section 54 (3). Insert instead:
(3) Duty of $10 is chargeable in respect of a transfer of dutiable
property to a person other than a special trustee as a
consequence of the retirement of a trustee or the appointment
of a new trustee, if the Chief Commissioner is satisfied that, as
the case may be:
(a) none of the continuing trustees remaining after the
retirement of a trustee is or can become a beneficiary
under the trust, and
(b) none of the trustees of the trust after the appointment of
a new trustee is or can become a beneficiary under the
trust, and
(c) the transfer is not part of a scheme for conferring an
interest, in relation to the trust property, on a new
trustee or any other person, whether as a beneficiary or
otherwise, to the detriment of the beneficial interest or
potential beneficial interest of any person.
If the Chief Commissioner is not so satisfied, the transfer is
chargeable with the same duty as a transfer to a beneficiary
under and in conformity with the trusts subject to which the
property is held, unless subsection (3A) applies.
(3A) Duty of $10 is chargeable in respect of a transfer of property as
a consequence of the retirement of a responsible entity of a
managed investment scheme or the appointment of a new
responsible entity of a managed investment scheme if the Chief
Commissioner is satisfied that the only beneficial interest
acquired by a person in relation to the property as a result of the
transfer is a beneficial interest acquired by the replacement or
new responsible entity solely because of its appointment as
responsible entity for the scheme.
Page 5
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[2] Section 64 Conversion of lots to strata title
Insert at the end of section 64 (b):
, and
(c) ad valorem duty was paid at the time that the land use
entitlement was acquired by the transferee.
[3] Section 65 Exemptions from duty
Insert "or transfer" after "vesting" wherever occurring in section 65 (7) (b).
[4] Section 65 (7) (b)
Omit "that occurs by or as a consequence of a decision of the Liquor
Administration Board or order of the Licensing Court".
[5] Section 68 Exemptions--break-up of marriages and domestic
relationships
Insert at the end of section 68 (2) (b) (ii):
, or
(iii) a purchase at public auction of property that,
immediately before the auction, was relationship
property where the public auction is held to
comply with any such order or agreement.
[6] Division 1 of Part 8, heading
Omit "First home purchase scheme". Insert instead "First Home Plus".
[7] Sections 69 and 70
Omit the sections. Insert instead:
69 The nature of the scheme
This scheme is intended to help people who are buying their
first home. Under the scheme, the purchase and any mortgage
given to assist the financing of the purchase is subject to a
concession or exemption from duty.
Page 6
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
70 Commencement
The following transactions and instruments are eligible for
consideration under the scheme:
(a) agreements for sale or transfer entered into on or after
1 July 2000,
(b) transfers that occur on or after 1 July 2000,
(c) mortgages over land the subject of those agreements or
transfers.
[8] Section 72 Eligible persons--net taxable income
Omit the section.
[9] Section 74 Eligible agreements or transfers
Omit section 74 (3). Insert instead:
(3) The total consideration payable under the agreement or transfer
(that is, the amount paid for the house or unit, or the land and
the construction of a house or unit on the land, and any
furnishings and other items acquired under the agreement or
transfer or any related document) must be less than:
(a) $300,000 if the property is located in the Metropolitan
Area and has a private dwelling built on it, or
(b) $250,000 if the property is located elsewhere than in the
Metropolitan Area and has a private dwelling built on it,
or
(c) $140,000 if the property is located in the Metropolitan
Area and comprises a vacant block of residential land,
or
(d) $110,000 if the property is located elsewhere than in the
Metropolitan Area and comprises a vacant block of
residential land.
Note. "Metropolitan Area" is defined in the Dictionary.
[10] Section 74 (5) and (6)
Omit the subsections.
Page 7
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[11] Section 76 Other qualifications
Omit section 76 (2).
[12] Section 80
Omit the section. Insert instead:
80 Duty payable if application approved
(1) If an application concerning an eligible agreement or transfer
is approved and the consideration payable under the agreement
or transfer is not more than the following amounts, no duty is
chargeable on the agreement or transfer:
(a) $200,000 if the property is located in the Metropolitan
Area and has a private dwelling built on it, or
(b) $175,000 if the property is located elsewhere than in the
Metropolitan Area and has a private dwelling built on it,
or
(c) $95,000 if the property is located in the Metropolitan
Area and comprises a vacant block of residential land,
or
(d) $80,000 if the property is located elsewhere than in the
Metropolitan Area and comprises a vacant block of
residential land.
(2) If an application concerning an eligible agreement or transfer
is approved and subsection (1) does not apply to the agreement
or transfer, duty is chargeable on the agreement or transfer as
follows:
(a) if the property is located in the Metropolitan Area and
has a private dwelling built on it--at the rate of 8.99%
of the total consideration payable under the agreement
or transfer, less $17,980.00, or
(b) if the property is located elsewhere than in the
Metropolitan Area and has a private dwelling built on
it--at the rate of 9.65% of the total consideration
payable under the agreement or transfer, less
$16,885.00, or
Page 8
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
(c) if the property is located in the Metropolitan Area and
comprises a vacant block of residential land--at the rate
of 7.53% of the total consideration payable under the
agreement or transfer, less $7,152.00, or
(d) if the property is located elsewhere than in the
Metropolitan Area and comprises a vacant block of
residential land--at the rate of 7.8% of the total
consideration payable under the agreement or transfer,
less $6,240.00.
Note. "Metropolitan Area" is defined in the Dictionary.
[13] Section 80A
Insert after section 80:
80A Definitions
In this Subdivision:
couple means any 2 people residing together or who intend to
reside together in the home or on the land the subject of the
application.
group self help scheme means a scheme under which the
participants contribute labour to a housing project instead of a
cash deposit in order to obtain finance to purchase a house and
land at a price that is lower than the current full market value.
single person means a person residing alone (whether or not
with children) or who intends to so reside in the home or on the
land the subject of the application.
[14] Part 8, Division 1, Subdivision 1A
Insert before section 81:
Subdivision 1A Payment of instalments under First Home
Purchase Scheme prior to 1 August 1998
[15] Section 85 Definitions
Omit the section.
Page 9
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[16] Section 92
Omit the section. Insert instead:
92 Other provisions
(1) Sections 76 and 79 apply to this scheme in the same way as
they apply to First Home Plus.
(2) Sections 78 and 8184 apply to this scheme in the same way as
they applied to the First Home Purchase Scheme before 1
August 1998.
[17] Section 145 Imposition of duty
Insert at the end of section 145 (1) (d):
, and
(e) on a sale or purchase of marketable securities on a
RIOT's own account, if the sale or purchase is effected
in New South Wales, and
(f) on an associated transaction with a RIOT (being a
transaction referred to in section 149 (1) (d)).
[18] Section 145 (3AA)
Insert after section 145 (3):
(3AA) For the purposes of subsection (1) (e), a sale or purchase on a
RIOT's own account is effected in New South Wales if:
(a) it arises from a manual RIOT order that an individual,
being the RIOT or an employee or agent of the RIOT,
who is present in New South Wales, instructed a
SEATS operator to put into the market, or
(b) it arises from an automated RIOT order that was put by
the RIOT into SEATS from New South Wales, or
(c) it did not a arise from a manual RIOT order or an
automated RIOT order, and an individual, being the
RIOT or an employee or agent of the RIOT, who is
present in New South Wales, instructed a SEATS
operator to report a trade to the market.
Page 10
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
[19] Section 145 (4)
Insert in alphabetical order:
automated RIOT order means an order that is submitted into
SEATS on a RIOT's own account without being keyed or
rekeyed by an individual.
manual RIOT order means an order that is submitted into
SEATS on a RIOT's own account by being keyed or rekeyed
by an individual.
[20] Section 145
Omit note (3) to section 145.
[21] Section 147 Who is a "broker"?
Omit the note to the section. Insert instead:
Note. The meaning of "broker" in the Business Rules of the Australian
Stock Exchange does not include a RIOT.
[22] Section 148 Presumptions relating to transactions of brokers and
RIOTs
Insert "or RIOT" after "a broker" wherever occurring.
[23] Section 148
Insert "RIOT," after "the broker," wherever occurring.
[24] Section 148
Insert "or RIOT" after "broker" wherever occurring in the note to
section 148.
[25] Section 151 Duty at general rate
Insert "or RIOT" after "broker".
[26] Section 151A Duty at concessional rate--New Zealand and Papua New
Guinea corporations
Insert "or RIOT" after "broker".
Page 11
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[27] Section 153 Marketable securities held on account of RIOTS and
futures brokers
Omit "registered independent options trader" wherever occurring.
Insert instead "RIOT".
[28] Section 153 (1) (a) and (c)
Omit "an options trader" wherever occurring. Insert instead "a RIOT".
[29] Section 153
Omit "the options trader" wherever occurring.
Insert instead "the RIOT".
[30] Section 153A
Insert after section 153:
153A Marketable securities held by RIOT on its own account
Duty is payable by a RIOT at the concessional rate on:
(a) a purchase by a RIOT of marketable securities on its
own account in its capacity as a RIOT if:
(i) it intends to sell marketable securities of the
same type during the period of 3 months after
the purchase, and
(ii) the purchase is made for the purpose of hedging
risk in respect of an options contract over
marketable securities of a type in respect of
which options are traded or the price of which is
included in the calculation of an index in respect
of which options are traded, and
(b) a sale by a RIOT of marketable securities of the same
type as those purchased by it during the period of 3
months before the sale on which duty was payable
under paragraph (a), and
(c) a sale by a RIOT of marketable securities held on its
own account in its capacity as a RIOT if:
(i) it intends to purchase marketable securities of
the same type during the period of 3 months
after the sale, and
Page 12
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
(ii) the sale is made for the purpose of hedging risk
in respect of an options contract over marketable
securities of a type in respect of which options
are traded or the price of which is included in
the calculation of an index in respect of which
options are traded, and
(d) a purchase by a RIOT of marketable securities of the
same type as those sold by it during the period of 3
months before the purchase on which duty was payable
under paragraph (c).
[31] Section 155 Additional duty on marketable securities held otherwise
than for short terms
Omit "registered independent options trader" wherever occurring in section
155 (2).
Insert instead "RIOT".
[32] Section 155 (2A)
Insert after section 155 (2):
(2A) Duty is payable by a RIOT at the differential rate on:
(a) a purchase, on the RIOT's own account, of marketable
securities on which concessional duty was paid under
section 153A (a) if marketable securities of the same
type were not sold by the RIOT during the period of 3
months after the purchase, and
(b) a sale by the RIOT, on the RIOT's own account, of
marketable securities on which concessional duty was
paid under section 153A (c) if marketable securities of
the same type were not purchased by the RIOT during
the period of 3 months after the sale.
[33] Section 155 (4)
Insert ", 153A" after "153".
Page 13
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[34] Section 157 Records of sales, purchases and transactions--generally
Omit ", the broker (pursuant to an order received by the broker or effected
by the broker on the broker's own account)" from section 157 (1).
Insert instead "(on the broker's own account or pursuant to an order
received by the broker), the broker".
[35] Section 157 (3)
Insert after section 157 (2):
(3) Immediately after a sale or purchase of, or a transaction that
transfers, marketable securities that is dutiable under this
Chapter, or that is exempt from duty under this Chapter, is
made by a RIOT on the RIOT's own account, the RIOT must
make a record of the sale, purchase or transaction that shows
the following:
(a) its date,
(b) the name of the broker or RIOT on the other side of the
transaction (if relevant),
(c) the quantity and full description of the marketable
securities,
(d) the selling or purchase price,
(e) the amount of duty chargeable,
(f) in the case of a sale, purchase or transaction that is
dutiable at the concessional rate or that is exempt from
duty, such particulars as are required to establish that the
sale, purchase or transaction is dutiable at the
concessional rate or is exempt from duty.
[36] Section 158 Records of sales, purchases and transactions--RIOTS,
futures brokers and warrant-issuers
Omit "registered independent options trader" wherever occurring.
Insert instead "RIOT".
[37] Section 158 (1)
Omit "the options trader". Insert instead "the RIOT".
Page 14
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
[38] Section 159 Lodgment of returns and payment of duty by brokers and
RIOTS
Insert after section 159 (2):
(3) A RIOT must, not later than Thursday of each week, lodge
with the Chief Commissioner a return in the approved form of
the sales, purchases and transactions required to be recorded
under section 157 that have been made by the RIOT during the
week ending on the preceding Saturday, and pay to the Chief
Commissioner the appropriate amount of duty calculated in
accordance with Part 2 in respect of the sales, purchases and
transactions required to be included in the return (other than
exempt transactions).
(4) Not later than 7 days after the end of a month in which a RIOT
becomes liable to pay duty under section 155, the RIOT must
lodge with the Chief Commissioner a return in the approved
form of the sales, purchases and transactions for which duty is
payable, and pay to the Chief Commissioner the appropriate
amount of duty calculated in accordance with Part 2 in respect
of the sales, purchases and transactions required to be included
in the return (other than exempt transactions).
[39] Section 160 Lodging of returns--RIOTS, futures brokers and warrant-
issuers
Omit "registered independent options trader".
Insert instead "RIOT".
[40] Section 160
Omit "the options trader". Insert instead "the RIOT".
[41] Section 161 Endorsement of transfer as to payment of duty
Insert "or RIOT" after "broker" wherever occurring.
[42] Section 161
Insert "or RIOT's" after "broker's" wherever occurring.
Page 15
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[43] Section 161 (5)
Omit "157 (1)". Insert instead "157".
[44] Section 221 Eligible mortgages under First Home Plus
Omit section 221 (1). Insert instead:
(1) Duty is payable in accordance with the following paragraphs on
an advance secured by an eligible mortgage under Division 1
of Part 8 of Chapter 2 or a mortgage in support of such an
eligible mortgage, but only to the extent that the amount of the
advances qualifies under section 77 (3) or (4):
(a) if the property is located in the Metropolitan Area and
has a private dwelling built on it:
Consideration payable under the Discount on duty
agreement or transfer
Not more than $200,000 100%
More than $200,000 but not more than
$235,000 . . . . . . . . . . . . . . . . . . . . . . . 75%
More than $235,000 but not more than
$265,000 . . . . . . . . . . . . . . . . . . . . . . . 50%
More than $265,000 but less than
$300,000 . . . . . . . . . . . . . . . . . . . . . . . 25%
(b) if the property is located elsewhere than in the
Metropolitan Area and has a private dwelling built on it:
Consideration payable under the Discount on duty
agreement or transfer
Not more than $175,000 . . . . . . . . . . . 100%
More than $175,000 but not more than
$200,000 . . . . . . . . . . . . . . . . . . . . . . . 75%
More than $200,000 but not more than
$225,000 . . . . . . . . . . . . . . . . . . . . . . . 50%
More than $225,000 but less than
$250,000 . . . . . . . . . . . . . . . . . . . . . . . 25%
Page 16
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
(c) if the property is located in the Metropolitan Area and
comprises a vacant block of residential land:
Consideration payable under the Discount on duty
agreement or transfer
Not more than $95,000 . . . . . . . . . . . . 100%
More than $95,000 but not more than
$110,00 . . . . . . . . . . . . . . . . . . . . . . . . 75%
More than $110,000 but not more than
$125,000 . . . . . . . . . . . . . . . . . . . . . . . 50%
More than $125,000 but less than
$140,000 . . . . . . . . . . . . . . . . . . . . . . . 25%
(d) if the property is located elsewhere than in the
Metropolitan Area and comprises a vacant block of
land:
Consideration payable under the Discount on duty
agreement or transfer
Not more than $80,000 . . . . . . . . . . . . 100%
More than $80,000 but not more than
$90,000 . . . . . . . . . . . . . . . . . . . . . . . . 75%
More than $90,000 but not more than
$100,000 . . . . . . . . . . . . . . . . . . . . . . . 50%
More than $100,000 but less than
$110,000 . . . . . . . . . . . . . . . . . . . . . . . 25%
Note. "Metropolitan Area" is defined in the Dictionary.
[45] Section 233 Classes of general insurance
Insert at the end of section 233 (4) (b):
, or
(c) until 1 February 2005, insurance under the Debtor
Insurance Scheme of the Stock and Station Agents
Association.
Page 17
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
[46] Section 234 What duty is payable?
Omit "11.5%" from section 234 (1). Insert instead "10%".
[47] Section 267 Exemptions
Omit section 267 (7A). Insert instead:
(7A) Vehicles purchased by war veterans
Duty under this Chapter is not chargeable in respect of an
application to register a motor vehicle in the name of a veteran
who is:
(a) eligible for 70 % or more of the general rate of pension
specified in section 22 (3) of the Commonwealth
Veterans' Entitlements Act 1986, or
(b) eligible for the rate of pension determined in accordance
with section 22 (4) of that Act, or
(c) eligible for the rate of pension determined in accordance
with section 23 of that Act, or
(d) eligible for the rate of pension under section 24 of that
Act.
Note. The rates of pension referred to in subsection (7A) (b), (c) and (d)
are known, respectively, as the extreme disablement adjustment rate of
pension, the intermediate rate of pension and the special rate of pension
for total and permanent incapacity.
[48] Section 278 Department of Housing and Aboriginal Housing Office
tenants
Omit section 278 (a). Insert instead:
(a) is a tenant:
(i) of the Department of Housing, or
(ii) under the Community Tenancy Scheme
administered within that Department, or
(iii) of the Aboriginal Housing Office,
at the date of the transaction or the date of the first
execution of the instrument, and
Page 18
State Revenue Legislation Amendment Bill 2000
Amendment of Duties Act 1997 Schedule 2
[49] Schedule 1 Savings, transitional and other provisions
Insert at the end of clause 1 (1):
State Revenue Legislation Amendment Act 2000
[50] Schedule 1
Insert at the end of Schedule 1 (with appropriate Part and clause numbers):
Part Provisions consequent on enactment of State
Revenue Legislation Amendment Act 2000
Insurance duty
The amendments made to section 234 (1) by the State Revenue
Legislation Amendment Act 2000 have effect only in relation to
premiums paid on or after 23 May 2000 for contracts of
insurance and renewals of contracts of insurance that take effect
after 1 October 2000.
[51] Dictionary, definition of "index trust"
Insert after paragraph (g) of the definition of index trust:
(h) Barclays Investment Funds Australian Equity Index
Fund.
[52] Dictionary, definition of "mortgage"
Insert "sections 282 and 284 and" after "purposes of".
[53] Dictionary, definition of "registered independent options trader"
Omit the definition.
[54] Dictionary
Insert in alphabetical order:
Metropolitan Area means the following:
County of Cumberland
local government area of Wollondilly
Page 19
State Revenue Legislation Amendment Bill 2000
Schedule 2 Amendment of Duties Act 1997
City of Wollongong
City of Shellharbour
City of Gosford
local government area of Wyong
City of Blue Mountains.
[55] Dictionary
Insert in alphabetical order:
RIOT has the same meaning as a registered independent
options trader has in the Business Rules of the Australian
Stock Exchange.
Page 20
State Revenue Legislation Amendment Bill 2000
Amendment of Land Tax Management Act 1956 Schedule 3
Schedule 3 Amendment of Land Tax Management Act
1956
(Section 5)
[1] Section 10 Land exempted from tax
Omit "Education Reform Act" from section 10 (1) (g) (ii).
Insert instead "Education Act".
[2] Section 10 (1) (q)
Insert after section 10 (1) (p1):
(q) land used solely as a police station,
[3] Section 21A Company title units taken to be strata lots
Insert "or one of 2 or more buildings on the land" after "on the land" in
section 21A (1) (a).
[4] Section 21A (1) (b)
Insert "or buildings" after "building".
[5] Section 21A (2) (a)
Insert "or that building" after "building".
[6] Section 21A (2) (b)
Insert ", or each such building," after "building".
[7] Section 21A (3)
Insert ", or a building," after "building".
Page 21
State Revenue Legislation Amendment Bill 2000
Schedule 3 Amendment of Land Tax Management Act 1956
[8] Section 21A (4)
Omit the subsection. Insert instead:
(4) The Chief Commissioner's redetermination is to be by
reference to:
(a) the proportion that the floor area of the deemed lot
bears to the total floor area that is separately occupied,
or capable of being used for separate occupation, in the
building, or
(b) in the case of an entitlement to occupy one of 2 or more
buildings, the proportion that the floor area of the
deemed lot bears to the total floor area that is separately
occupied, or capable of being used for separate
occupation, in all of those buildings.
[9] Section 47 Land tax to be first charge on land
Omit "of $15" from section 47 (1A) (b).
Insert instead "determined by the Chief Commissioner".
[10] Section 65A Alteration of strata unit entitlements
Omit section 65A (6). Insert instead:
(6) For that purpose, the Chief Commissioner may make an
assessment, reassessment or compromise assessment of land
tax in accordance with Part 3 of the Taxation Administration
Act 1996.
[11] Schedule 2 Savings and transitional provisions
Insert "State Revenue Legislation Amendment Act 2000" at the end of
clause 1A (1) of Schedule 2.
Page 22
State Revenue Legislation Amendment Bill 2000
Amendment of Pay-roll Tax Act 1971 Schedule 4
Schedule 4 Amendment of Pay-roll Tax Act 1971
(Section 6)
[1] Section 3 Definitions
Omit the definition of corporation from section 3 (1). Insert instead:
corporation has the same meaning as in the Corporations Law.
[2] Section 3 (1)
Omit the definition of voting share. Insert instead:
voting share has the same meaning as in section 9 of the
Corporations Law.
[3] Section 10 Exemption from pay-roll tax
Omit "Department of Training and Education" from section 10 (1) (m).
Insert instead "Department of Education and Training".
[4] Section 16D Grouping of commonly controlled businesses
Omit "section 7 (5) of the Companies (New South Wales) Code" from
section 16D (4).
Insert instead "section 50 of the Corporations Law".
[5] Section 16D (4)
Omit "that Code". Insert instead "that Law".
[6] Section 25 Liquidator to give notice
Omit "Companies (New South Wales) Code" from section 25 (7) (b).
Insert instead "Corporations Law".
Page 23
State Revenue Legislation Amendment Bill 2000
Schedule 4 Amendment of Pay-roll Tax Act 1971
[7] Schedule 2 Calculation of pay-roll tax liability from 1 July 1996
Omit paragraph (b) (i) of the definition of R in clause 13 (1) of Part 4.
Insert instead:
(i) commencing on 1 July 1999--6.4, or
(ia) commencing on 1 July 2000--6.4 for the first 2
quarters of the financial year and 6.2 for the last
2 quarters of the financial year, or
[8] Schedule 6 Savings, transitional and other provisions
Insert "State Revenue Legislation Amendment Act 2000" at the end of clause
1 (1) of Schedule 6.
Page 24
State Revenue Legislation Amendment Bill 2000
Amendment of Premium Property Tax Act 1998 Schedule 5
Schedule 5 Amendment of Premium Property Tax Act
1998
(Section 7)
Section 5 Definitions
Omit "Valuation of Land Act 1916" wherever occurring in the definition of
land value.
Insert instead "Part 7 of the Land Tax Management Act 1956".
Page 25
State Revenue Legislation Amendment Bill 2000
Schedule 6 Amendment of Roads Act 1993
Schedule 6 Amendment of Roads Act 1993
(Section 8)
Section 196 Compensation provided in form of land
Omit "No stamp duty is payable under the Stamp Duties Act 1920" from
section 196 (2).
Insert instead "No duty is payable under the Duties Act 1997".
Page 26
State Revenue Legislation Amendment Bill 2000
Amendment of Taxation Administration Act 1996 Schedule 7
Schedule 7 Amendment of Taxation Administration
Act 1996
(Section 9)
[1] Section 9 Reassessment
Insert "and, as a result, the tax liability was assessed at a lower amount than
the Chief Commissioner would otherwise have assessed it" after "Chief
Commissioner" in section 9 (3) (b).
[2] Section 37 Approval of special tax return arrangements
Insert after section 37 (3):
(4) The calculation of tax by a person other than the Chief
Commissioner in accordance with a special arrangement
approved under this section is not an assessment.
[3] Section 42 Stamping of instruments
Insert after section 42 (2):
(3) Despite subsection (1), the endorsing of an instrument as
referred to in subsection (1) (b) is not evidence of an
assessment of the duty payable under the Duties Act 1997 in
respect of the instrument.
[4] Section 82 Permitted disclosures--to particular persons
Insert after section 82 (e) (viiib):
(viiic) the Commissioner for the New South Wales
Crime Commission, or
[5] Schedule 1 Savings, transitional and other provisions
Insert "State Revenue Legislation Amendment Act 2000" at the end of
clause 1 (1) of Schedule 1.
Page 27
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