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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
REVENUE LAWS
AMENDMENT BILL 1995
Queensland
REVENUE LAWS AMENDMENT BILL
1995
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
PART 2--LAND TAX ACT 1915
3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Amendment of s 13(1) (Land exempted from tax) . . . . . . . . . . . . . . . . . . . . 4
5 Amendment of s 16(1) (Taxpayer to furnish returns) . . . . . . . . . . . . . . . . . . 4
PART 3--PAY-ROLL TAX ACT 1971
6 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
7 Amendment of s 9 (Deduction from taxable wages) . . . . . . . . . . . . . . . . . . 5
8 Amendment of s 11A (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
9 Amendment of s 12 (Registration) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
10 Amendment of s 16J (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
PART 4--STAMP ACT 1894
11 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
12 Amendment of s 31D (Returns to be lodged and duty paid) . . . . . . . . . . . . 7
13 Amendment of s 35B (Statements to be lodged by required
persons with the Commissioner) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8
14 Amendment of sch (Stamp duties on instruments) . . . . . . . . . . . . . . . . . . . . 8
1995
A BILL
FOR
An Act to amend certain Acts administered by the Treasurer
s1 4 s5
Revenue Laws Amendment
The Parliament of Queensland enacts-- 1
ART 1--PRELIMINARY 2
P
title 3
Short
Clause 1. This Act may be cited as the Revenue Laws Amendment Act 1995. 4
5
Commencement
Clause 2.(1) This Act (other than part 2) commences on 1 July 1995. 6
(2) Part 2 commences on 29 June 1995. 7
PART 2--LAND TAX ACT 1915 8
amended 9
Act
Clause 3. This part amends the Land Tax Act 1915. 10
of s 13(1) (Land exempted from tax) 11
Amendment
Clause 4. Section 13(1)(x) and (xii), `$40 000'-- 12
omit, insert-- 13
`$60 000'. 14
of s 16(1) (Taxpayer to furnish returns) 15
Amendment
Clause 5.(1) Section 16(1)(a) `or a company'-- 16
omit. 17
(2) Section 16(1)-- 18
s6 5 s8
Revenue Laws Amendment
insert-- 1
`(ab) for an owner who is a company--$60 000 or upwards;'. 2
(3) Section 16(1)(aa), `$40 000'-- 3
omit, insert-- 4
`$60 000'. 5
(4) Section 16(1)(b), `(a) or (aa) of this subsection'-- 6
omit, insert-- 7
`(a), (aa) or (ab)'. 8
ART 3--PAY-ROLL TAX ACT 1971 9
P
amended 10
Act
Clause 6. This part amends the Pay-roll Tax Act 1971. 11
of s 9 (Deduction from taxable wages) 12
Amendment
Clause 7.(1) Section 9(1), definition "prescribed amount", formula, 13
definition "E"-- 14
omit, insert-- 15
` "E" (maximum deduction per month) means-- 16
(a) in the period starting on 1 July 1995 and ending on 30 June 17
1996--60 417; and 18
(b) in a period starting on or after 1 July 1996--62 500.'. 19
(2) Section 9(4)-- 20
omit. 21
of s 11A (Interpretation) 22
Amendment
Clause 8.(1) Section 11A(2)(a), `1992'-- 23
s9 6 s 10
Revenue Laws Amendment
omit, insert-- 1
`1995'. 2
(2) Section 11A(2)(a), formula, `JA+KB'-- 3
omit, insert-- 4
`$725 000 A'. 5
(3) Section 11A(2)(b), `1993'-- 6
omit, insert-- 7
`1996'. 8
(4) Section 11A(2)(b), `700 000 C'-- 9
omit, insert-- 10
`750 000 A'. 11
(5) Section 11A(2)(c), definitions "A", "B", "C", "J" and "K"-- 12
omit, insert-- 13
` "A" represents the number of days in the financial year for 14
which an employer pays or is liable to pay wages 15
(disregarding foreign wages).'. 16
of s 12 (Registration) 17
Amendment
Clause 9. Section 12(1)(a)-- 18
omit, insert-- 19
`(a) pays or is liable to pay anywhere wages of more than-- 20
(i) if the month is a month after June 1995 and before July 21
1996--$13 942 per week; or 22
(ii) if the month is July 1996 or a subsequent month--$14 423 23
per week;'. 24
of s 16J (Interpretation) 25
Amendment
Clause 10.(1) Section 16J(1)(a), `1992'-- 26
omit, insert-- 27
s 11 7 s 12
Revenue Laws Amendment
`1995'. 1
(2) Section 16J(1)(a), formula, `JA+KB'-- 2
omit, insert-- 3
`$725 000 A'. 4
(3) Section 16J(1)(b), `1993'-- 5
omit, insert-- 6
`1996'. 7
(4) Section 16J(1)(b), `700 000 C'-- 8
omit, insert-- 9
`750 000 A'. 10
(5) Section 16J(1)(c), definitions "A", "B", "C", "J" and "K"-- 11
omit, insert-- 12
` "A" represents the number of days in the financial year for 13
which 1 or more members of the group pays or pay, or is 14
or are liable to pay, taxable wages or interstate wages or 15
taxable wages and interstate wages.'. 16
ART 4--STAMP ACT 1894 17
P
amended 18
Act
Clause 11. This part amends the Stamp Act 1894. 19
of s 31D (Returns to be lodged and duty paid) 20
Amendment
Clause 12. Section 31D(1)(b), `30'-- 21
omit, insert-- 22
`15'. 23
s 13 8 s 14
Revenue Laws Amendment
of s 35B (Statements to be lodged by required persons 1
Amendment
with the Commissioner) 2
Clause 13. Section 35B(1)(b), first and second provisos, paragraph (b), 3
`$10 000'-- 4
omit, insert-- 5
`$100 000'. 6
of sch (Stamp duties on instruments) 7
Amendment
Clause 14. Schedule, CONVEYANCE OR TRANSFER, paragraph (3), up to 8
the first proviso-- 9
omit, insert-- 10
`(3) Of a stock, marketable security or right in respect of 11
shares mentioned in paragraph (2A)--
(a) on sale for a consideration in money or money's 12
worth of at least the full unencumbered value of the 13
stock, marketable security or right in respect of 14
shares--
(i) if the stock, marketable security or right is 15
listed on the Australian Stock Exchange--for 16
every $100 (or part of $100) of the 17
$0.30
consideration
(ii) if the stock, marketable security or right is not 18
listed on the Australian Stock Exchange--for 19
every $100 (or part of $100) of the 20
$0.60
consideration
21
(b) for no consideration in money or money's worth, 22
for a consideration in money or money's worth of 23
less than the full unencumbered value of the stock, 24
marketable security or right in respect of shares, by 25
way of division or exchange, or under sections 701 26
and 702 of the Corporations Law--
s 14 9 s 14
Revenue Laws Amendment
(i) if the stock, marketable security or right is 1
listed on the Australian Stock Exchange--for 2
every $100 (or part of $100) of the full 3
$0.30
unencumbered value
(ii) if the stock, marketable security or right is not 4
listed on the Australian Stock Exchange--for 5
every $100 (or part of $100) of the full 6
$0.60'.
unencumbered value
7
8
© State of Queensland 1995
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