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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
Duties Amendment Bill (No. 2)
2004
Queensland
Duties Amendment Bill (No. 2) 2004
Contents
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement. . . . . . . . . . . . . . . . . . . . . . . . . 4
3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Amendment of s 91 (Concession for transfer
duty--home) . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Amendment of s 93 (Concession for transfer
duty--mixed and multiple claims for homes and
first homes for individuals) . . . . . . . . . . . . . . . . . 4
6 Omission of ch 6, pt 2 . . . . . . . . . . . . . . . . . . . . 5
7 Amendment of s 362 (Rate of insurance
duty--general and accident insurance) . . . . . . . 5
8 Insertion of new ch 17, pt 4 . . . . . . . . . . . . . . . . 5
Part 4 Transitional provisions for Duties
Amendment Act (No. 2) 2004
552 Application of amendments about
concession for transfer duty for home . . 5
553 Application of amendments about credit
card duty . . . . . . . . . . . . . . . . . . . . . . . . 6
Schedule Consequential amendments . . . . . . . . . . . . . . . 7
2004
A BILL
FOR
An Act to amend the Duties Act 2001
s1 4 s5
Duties Amendment Bill (No. 2) 2004
The Parliament of Queensland enacts-- 1
1 Short title 2
This Act may be cited as the Duties Amendment Act (No. 2) 3
2004. 4
2 Commencement 5
This Act commences on 1 August 2004. 6
3 Act amended 7
This Act amends the Duties Act 2001. 8
4 Amendment of s 91 (Concession for transfer 9
duty--home) 10
(1) Section 91(3), (5) and (6), `$250 000'-- 11
omit, insert-- 12
`$300 000'. 13
(2) Section 91(5)(a), `$2 500'-- 14
omit, insert-- 15
`$3 000'. 16
5 Amendment of s 93 (Concession for transfer duty--mixed 17
and multiple claims for homes and first homes for 18
individuals) 19
Section 93(4)(b)(ii) and (5)(b)(ii), `$250 000'-- 20
omit, insert-- 21
`$300 000'. 22
s6 5 s8
Duties Amendment Bill (No. 2) 2004
6 Omission of ch 6, pt 2 1
Chapter 6, part 2-- 2
omit. 3
7 Amendment of s 362 (Rate of insurance 4
duty--general and accident insurance) 5
Section 362(1)(a), `8.5%'-- 6
omit, insert-- 7
`7.5%'. 8
8 Insertion of new ch 17, pt 4 9
Chapter 17-- 10
insert-- 11
`Part 4 Transitional provisions for 12
Duties Amendment Act (No. 2) 13
2004 14
`552 Application of amendments about concession for 15
transfer duty for home 16
`(1) Chapter 2, part 9, division 31 as in force on 1 August 2004 17
applies to dutiable transactions only if liability for transfer 18
duty arises on or after 1 August 2004. 19
`(2) However, the division as in force immediately before 20
1 August 2004 applies to a dutiable transaction that is the 21
transfer, or agreement for the transfer, of residential land 22
made on or after 1 August 2004 if-- 23
(a) the transfer or agreement replaces a transfer, or an 24
agreement for the transfer, that included the residential 25
land and was made before 1 August 2004; or 26
1 Chapter 2 (Transfer duty), part 9 (Concessions for homes), division 3 (Concessions
for homes and first homes)
s8 6 s8
Duties Amendment Bill (No. 2) 2004
(b) the transferee had an option to purchase the residential 1
land, or the transferor had an option to require the 2
transferee to purchase the residential land, granted 3
before 1 August 2004 and exercised on or after 1 August 4
2004; or 5
(c) another arrangement was made before 1 August 2004 6
the sole or main purpose of which was to defer the 7
making of the transfer or agreement until 1 August 2004 8
or later so the concession for transfer duty under the 9
division, as in force on or after 1 August 2004, would 10
apply in relation to the dutiable transaction. 11
`553 Application of amendments about credit card duty 12
`(1) Chapter 6, part 2 as in force immediately before 1 August 13
2004 applies in relation to credit card transactions in a partial 14
period. 15
`(2) For subsection (1), a partial period is taken to be a billing 16
period. 17
`(3) A term used in this section and defined in chapter 6, part 2 as 18
in force immediately before 1 August 2004 has the meaning 19
given by the part as in force immediately before 1 August 20
2004. 21
`(4) In this section-- 22
partial period for a billing period that starts, but has not 23
ended, before 1 August 2004 means the period from the start 24
to 31 July 2004.'. 25
7
Duties Amendment Bill (No. 2) 2004
Schedule Consequential amendments 1
section 3 2
1 Section 130E-- 3
insert-- 4
`(2) In this section-- 5
credit card account means an account kept by a credit card 6
provider for a credit card holder recording the balance of 7
account between the provider and the holder for credit card 8
transactions for the holder's credit card. 9
credit card transaction means a debit or adjustment to a credit 10
card holder's credit card account that-- 11
(a) is for-- 12
(i) a payment by a credit card provider to a merchant 13
to whom the holder's credit card is produced; or 14
(ii) a cash advance made by a credit card provider to, 15
or at the direction of, the holder; and 16
(b) involves the giving of credit by the provider or an 17
adjustment of credit previously given by the provider.'. 18
2 Chapter 6, heading, `AND CREDIT CARD DUTY'-- 19
omit. 20
3 Chapter 6, part 1, heading-- 21
omit, insert-- 22
`Part 1 Preliminary'. 23
4 Chapter 6, part 1, division 1, heading-- 24
omit. 25
8
Duties Amendment Bill (No. 2) 2004
Schedule (continued)
5 Section 293(1), `part'-- 1
omit, insert-- 2
`chapter'. 3
6 Section 293(1), note, `division'-- 4
omit, insert-- 5
`part'. 6
7 Section 294, heading, `pt 1'-- 7
omit, insert-- 8
`ch 6'. 9
8 Section 294(1) and (3), `part'-- 10
omit, insert-- 11
`chapter'. 12
9 Chapter 6, part 1, division 2, heading-- 13
omit, insert-- 14
`Part 2 Some basic concepts for credit 15
business duty'. 16
10 Section 296, heading, `pt 1'-- 17
omit, insert-- 18
`ch 6'. 19
11 Section 296(1), `this part'-- 20
omit, insert-- 21
`this chapter'. 22
9
Duties Amendment Bill (No. 2) 2004
Schedule (continued)
12 Chapter 6, part 1, division 3, heading-- 1
omit, insert-- 2
`Part 3 Liability for credit business 3
duty'. 4
13 Chapter 6, part 1, division 4, heading-- 5
omit, insert-- 6
`Part 4 Arrangements applying to 7
credit providers'. 8
14 Chapter 6, part 1, division 5, heading-- 9
omit, insert-- 10
`Part 5 Exemptions'. 11
15 Section 437(1), `credit card provider,'-- 12
omit. 13
16 Section 542-- 14
omit. 15
17 Schedule 6, definitions "billing period", "credit card", 16
"credit card account", "credit card duty", "credit card 17
holder", "credit card provider", "credit card transaction", 18
"merchant", "prescribed credit card provider" and 19
"registered credit card provider"-- 20
omit. 21
18 Schedule 6-- 22
insert-- 23
10
Duties Amendment Bill (No. 2) 2004
Schedule (continued)
`credit card means a card, or other thing, for which the credit 1
card provider agrees, whether or not on conditions, to-- 2
(a) make payment to a merchant to whom the card is 3
produced; or 4
(b) provide a cash advance to the credit card holder. 5
credit card holder means a person-- 6
(a) to whom a credit card has been issued; and 7
(b) whose address last known to the credit card provider, or 8
at the person's direction, is in Queensland. 9
credit card provider means-- 10
(a) a person who has issued a credit card and, in the 11
ordinary course of business, may make a payment or 12
provide credit under an obligation accepted by the 13
person on the issue of the credit card; or 14
(b) a prescribed credit card provider. 15
merchant means a person who-- 16
(a) supplies goods, services, money or money's worth; and 17
(b) relies, partly or wholly, on a credit card for payment or 18
recoupment for the supply. 19
prescribed credit card provider means a corporation that-- 20
(a) is principally engaged in supplying goods or services or 21
is a related body corporate of a corporation (the related 22
corporation) that is principally engaged in supplying 23
goods or services; and 24
(b) issues a credit card principally for use in connection 25
with transactions between the credit card holder and the 26
corporation or the related corporation for the supply of 27
goods or services by the corporation or the related 28
corporation; and 29
(c) is prescribed under a regulation to be a corporation to 30
which this paragraph applies.'. 31
11
Duties Amendment Bill (No. 2) 2004
Schedule (continued)
19 Schedule 6, definition "goods", `chapter 6, part 1, and 1
chapter 7'-- 2
omit, insert-- 3
`chapters 6 and 7'. 4
© State of Queensland 2004
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