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This is a Bill, not an Act. For current law, see the Acts databases.
Queensland
REVENUE LAWS
AMENDMENT BILL (No. 2)
1995
Queensland
REVENUE LAWS AMENDMENT BILL
(No. 2) 1995
TABLE OF PROVISIONS
Section Page
PART 1--PRELIMINARY
1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
PART 2--AMENDMENT OF STAMP ACT 1894
3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
4 Insertion of new s 31BA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
31BA Options--marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
5 Amendment of s 49 (Meaning of "conveyance or transfer" and
provisions affecting the same) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5
6 Insertion of new s 54AD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
54AD Statutory business licences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
7 Amendment of s 55A (Duty relating to principal place of
residence and first principal place of residence) . . . . . . . . . . . . . . . . . . . . . 8
8 Amendment of s 57A (Motor vehicles) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
9 Insertion of new s 64D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
64D Licence to occupy premises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10
10 Amendment of sch 1 (Stamp duties on instruments) . . . . . . . . . . . . . . . . . . 12
PART 3--AMENDMENT OF PAY-ROLL TAX ACT 1971
11 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
12 Amendment of s 6 (Wages liable to pay-roll tax) . . . . . . . . . . . . . . . . . . . . 13
13 Insertion of new s 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
11 Exemption from pay-roll tax--certain CWA wages . . . . . . . . . . . . . 13
1995
A BILL
FOR
An Act to amend the Stamp Act 1894 and the Pay-roll Tax Act 1971
s1 4 s4
Revenue Laws Amendment (No. 2)
The Parliament of Queensland enacts-- 1
PART 1--PRELIMINARY 2
title 3
Short
Clause 1. This Act may be cited as the Revenue Laws Amendment Act (No. 2) 4
1995. 5
6
Commencement
Clause 2.(1) Section 4 is taken to have commenced on 7 April 1995. 7
(2) Section 11 is taken to have commenced on 1 July 1995. 8
PART 2--AMENDMENT OF STAMP ACT 1894 9
amended in pt 2 10
Act
Clause 3. This part amends the Stamp Act 1894. 11
of new s 31BA 12
Insertion
Clause 4. After section 31B-- 13
insert-- 14
securities 15
`Options--marketable
`31BA.(1) This section applies to a sale or purchase of a marketable 16
security under the exercise of an option. 17
`(2) For section 31B(2), the unencumbered value of the marketable 18
security is taken to be the greater of-- 19
(a) the premium paid on the option; or 20
s5 5 s5
Revenue Laws Amendment (No. 2)
(b) the consideration for the sale or purchase of the marketable 1
security. 2
`(3) Sections 31C to 31F apply to the sale or purchase of the marketable 3
security as if an instruction to a broker to lodge a notice to exercise an 4
option, or the receipt by a broker of the notice, were an order for purchase 5
or sale. 6
'(4) In this section-- 7
"option" means an option over issued marketable securities listed on the 8
Australian Stock Exchange Limited, but does not include an option or 9
a class of options excluded from the operation of sections 31C to 31F 10
under a regulation.'. 11
of s 49 (Meaning of "conveyance or transfer" and 12
Amendment
provisions affecting the same) 13
Clause 5.(1) After section 49(3)-- 14
insert-- 15
`(3A) However, only the true consideration mentioned in subsection (3) 16
need be specified in the instrument of conveyance or transfer if-- 17
(a) the conveyance or transfer of property includes real property 18
situated in Queensland; and 19
(b) the consideration for all of the property (including livestock and 20
movable chattels) included in the transaction to which the 21
conveyance or transfer relates equals, or is more than, the full 22
unencumbered value of all the property.'. 23
(2) Section 49(4), `by declaration made under the Oaths Act 1867,'-- 24
omit. 25
(3) Section 49-- 26
insert-- 27
`(5) The commissioner may refuse to stamp a conveyance or transfer of 28
real property if a combined form, completed in all respects, has not been 29
produced. 30
`(6) In this section-- 31
s6 6 s6
Revenue Laws Amendment (No. 2)
"combined form" means an approved form providing information 1
required under the following Acts-- 2
(a) this Act; 3
(b) the Land Tax Act 1915; 4
(c) the Local Government Act 1993; 5
(d) the Foreign Ownership of Land Register Act 1988; 6
(e) the Valuation of Land Act 1944.'. 7
of new s 54AD 8
Insertion
Clause 6. After section 54AC-- 9
insert-- 10
business licences 11
`Statutory
`54AD.(1) This section applies if a person (the "licence holder") 12
acquires or agrees to acquire a statutory business licence that is property 13
situated in Queensland. 14
`(2) An acquisition of, or agreement to acquire, a statutory business 15
licence is taken to have happened on the grant, extension or renewal of the 16
licence only if the former holder of the licence agreed to surrender or 17
relinquish the licence, or agreed not to apply for an extension or renewal of 18
the licence, so that the licence, an extension or renewal of the licence, or 19
another licence for the same type of activity could be issued or given to the 20
licence holder. 21
`(3) This section does not apply to the acquisition of, or agreement to 22
acquire, a statutory business licence effected or evidenced by an instrument 23
chargeable with duty under schedule 1, CONVEYANCE OR 24
TRANSFER, paragraph (4) on the conveyance or transfer of the licence. 25
`(4) For this section, a statutory business licence is property situated in 26
Queensland if the licence relates to, or is held in connection with-- 27
(a) a business taken to exist in Queensland because of 28
section 54A(10); or 29
(b) Queensland or a part of Queensland. 30
`(5) The licence holder must, within 1 month after acquiring, or agreeing 31
s6 7 s6
Revenue Laws Amendment (No. 2)
to acquire, the statutory business licence (whichever happens first), make a 1
statement to the commissioner in the approved form. 2
Maximum penalty--100 penalty units plus an amount equal to double the 3
amount of the duty that would have been chargeable on the statement if the 4
statement had been made under this section. 5
`(6) If proceedings for an offence are not taken against a licence holder, 6
the commissioner may impose a penalty of-- 7
(a) 3% of the duty chargeable on the statement for the first month, or 8
part of the month, after the end of the period during which the 9
statement was required to be made; and 10
(b) 2% for each subsequent month or part of the month, until the 11
statement is made. 12
`(7) However, if the penalty calculated under subsection (6) would be 13
less than $10, the penalty is $10. 14
`(8) After considering the circumstances, the commissioner may waive 15
or reduce the penalty. 16
`(9) The statement mentioned in subsection (5) is taken to be an 17
instrument under this Act executed by the licence holder and is chargeable 18
with duty as if it were a conveyance or transfer of the statutory business 19
licence to which the statement relates. 20
`(10) However, subsection (11) applies if a statutory business licence 21
mentioned in subsection (4) also relates to, or is also held in connection 22
with-- 23
(a) for a licence mentioned in subsection (4)(a)--a business carried 24
on in, or from, another State or Territory; or 25
(b) for a licence mentioned in subsection (4)(b)--another State or 26
Territory. 27
`(11) If subsection (10) applies, duty chargeable on the statement is to be 28
calculated as if the consideration for, or the full unencumbered value of, the 29
licence were an amount that bears to the full amount of the consideration 30
for, or full unencumbered value of, the licence the same proportion as the 31
part of the full unencumbered value of the licence derived from-- 32
(a) the business undertaking of the licensee conducted in Queensland; 33
or 34
s7 8 s7
Revenue Laws Amendment (No. 2)
(b) the business undertaking of the licensee conducted from 1
Queensland; or 2
(c) the relationship of the licence to Queensland; 3
whichever is the greatest, bears to the full unencumbered value of the 4
licence. 5
`(12) In this section-- 6
"statutory business licence" means a licence, permit or authority issued or 7
given under a law of the Commonwealth or Queensland that is 8
required by the law to be held by a person carrying out an activity for 9
gain or reward.'. 10
of s 55A (Duty relating to principal place of residence 11
Amendment
and first principal place of residence) 12
Clause 7.(1) Section 55A(1), definition "relevant rebate"-- 13
omit, insert-- 14
` "relevant rebate" means-- 15
(a) for property consisting of a prescribed principal place of 16
residence-- 17
(i) if the property is valued at $80 000 or less--$800; 18
(ii) if the property is valued at more than $80 000 but not more 19
than $150 000--$500; 20
(iii) if the property is valued at more than $150 000 but not more 21
than $155 000--$300; 22
(iv) if the property is valued at more than $155 000 but not more 23
than $160 000--$200; and 24
(b) for property including a prescribed principal place of 25
residence--the rebate that would have been available if the 26
property consisted of the residence less an amount that bears to 27
the rebate the same proportion as the value of the property not 28
attributable to the prescribed principal place of residence bears to 29
the value of the property.'. 30
(2) Section 55A(5), `without'-- 31
s8 9 s9
Revenue Laws Amendment (No. 2)
omit, insert-- 1
`with'. 2
of s 57A (Motor vehicles) 3
Amendment
Clause 8.(1) Section 57A(2A), `subsection (2)'-- 4
omit, insert-- 5
`subsections (2AA) and (2AB)'. 6
(2) Section 57A(2A), definition "list price"-- 7
omit, insert-- 8
` "list price", of a motor vehicle, means-- 9
(a) if the applicant for registration of the motor vehicle is not exempt 10
from the payment of sales tax--the recommended retail price (or, 11
if there is more than 1 recommended retail price, the highest 12
recommended retail price) of the manufacturer, importer or 13
principal distributor at Brisbane of-- 14
(i) for a motor vehicle other than a motor truck--the motor 15
vehicle; or 16
(ii) for a motor truck--the relevant make and model of the 17
cab-chassis; or 18
(b) if the applicant for registration is exempt from the payment of 19
sales tax--the recommended retail price (or, if there is more than 20
1 recommended retail price, the highest recommended retail 21
price) of the manufacturer, importer or principal distributor at 22
Brisbane (less sales tax) of-- 23
(i) for a motor vehicle other than a motor truck--the motor 24
vehicle; or 25
(ii) for a motor truck--the relevant make and model of the 26
cab-chassis .'. 27
of new s 64D 28
Insertion
Clause 9. After section 64C-- 29
s9 10 s9
Revenue Laws Amendment (No. 2)
insert-- 1
to occupy premises 2
`Licence
`64D.(1) This section applies if, under a contract or agreement that is in 3
writing or for which there is a written offer-- 4
(a) a person (the "occupier") acquires or agrees to acquire a right to 5
occupy all or part of a building in Queensland (the "premises"); 6
and 7
(b) the occupier uses or will use the premises as a place of business; 8
and 9
(c) the occupier does not obtain exclusive possession of the 10
premises; and 11
(d) it would be reasonable to conclude that the occupier's enjoyment 12
of the premises as a place of business during the term of the 13
contract or agreement is not, or will not be, adversely affected by 14
the absence of the right to exclusive possession having regard 15
to-- 16
(i) the periods during which the occupier's occupation of the 17
premises is not exclusive; and 18
(ii) the times when the occupier's right to have access to, or to 19
occupy, the premises may be interrupted or denied. 20
`(2) This section does not apply to a contract or agreement for the right to 21
occupy premises in any of the following circumstances-- 22
(a) the term of the right of occupation is less than 1 month and it 23
would be reasonable to conclude that there is no arrangement by 24
which the term may be extended or renewed so that the total term 25
will be longer than 1 month; 26
(b) the term of the right of occupation is at least 1 month but less than 27
1 year and the consideration paid or payable by the occupier for 28
the right of occupation (other than reasonable outgoings for the 29
premises) adjusted for a term of 1 year is not more than $10 000; 30
(c) the term of the right of occupation is for at least 1 year and the 31
annual consideration paid or payable by the occupier for the right 32
of occupation (other than reasonable outgoings for the premises) 33
is not more than $10 000. 34
s9 11 s9
Revenue Laws Amendment (No. 2)
`(3) The person (the "grantor") who has given, or agreed to give, the 1
occupier the right to occupy the premises must, within 1 month after the 2
occupier acquires, or agrees to acquire, the right of occupation for a 3
premises (whichever happens first), make a statement to the commissioner 4
in the approved form. 5
Maximum penalty--100 penalty units plus an amount equal to double the 6
amount of the duty that would have been chargeable on the statement if the 7
statement had been made under this section. 8
`(4) If proceedings for an offence are not taken against a grantor, the 9
commissioner may impose a penalty of-- 10
(a) 3% of the duty chargeable on the statement for the first month, or 11
part of the month, after the end of the period during which the 12
statement was required to be made; and 13
(b) 2% for each subsequent month or part of the month, until the 14
statement is made. 15
`(5) However, if the penalty calculated under subsection (4) would be 16
less than $10, the penalty is $10. 17
`(6) After considering the circumstances, the commissioner may waive 18
or reduce the penalty. 19
`(7) A proceeding against a grantor under subsection (3) may not be 20
taken, and the commissioner may not impose a penalty under 21
subsection (4), for the grantor not having made a statement before the 22
consideration for the right of occupation was ascertainable if-- 23
(a) the amount of the annual consideration payable could not be 24
ascertained for the contract or agreement; and 25
(b) within 1 month of acquiring or agreeing to acquire the right of 26
occupation, the grantor reasonably estimated that the annual 27
consideration would be not more than $10 000; and 28
(c) the actual annual consideration paid did not exceed the grantor's 29
estimate by more than 15%. 30
`(8) The statement mentioned in subsection (3) is taken to be an 31
instrument under this Act executed by the grantor and is chargeable with 32
duty as if-- 33
(a) the statement were an instrument of lease of the premises; and 34
s 10 12 s 11
Revenue Laws Amendment (No. 2)
(b) the consideration paid or payable under the contract or agreement 1
(other than reasonable outgoings for the premises) were rental 2
paid or payable by the occupier under the lease; and 3
(c) the term and any conditional term of the right of occupation were 4
the term and conditional term of the lease.'. 5
of sch 1 (Stamp duties on instruments) 6
Amendment
Clause 10. Schedule 1, APPLICATION FOR REGISTRATION OR 7
APPLICATION FOR TRANSFER OF REGISTRATION OF A 8
MOTOR VEHICLE, Exemptions-- 9
insert-- 10
`7.(1) Any application for registration of a heavy motor vehicle that was, 11
immediately before 1 July 1995, registered under the Commonwealth Act 12
if-- 13
(a) the registration is the first registration of the vehicle in 14
Queensland; and 15
(b) the person in whose name the vehicle is registered in Queensland 16
is the person in whose name the vehicle was registered under the 17
Commonwealth Act. 18
`(2) In subsection (1)-- 19
"Commonwealth Act" means the Interstate Road Transport Act 1985 20
(Cwlth). 21
"heavy motor vehicle" means a motor vehicle with a gross vehicle mass 22
of 4.5 tonnes or more.'. 23
ART 3--AMENDMENT OF PAYROLL TAX ACT 24
P
1971 25
amended in pt 3 26
Act
Clause 11. This part amends the Pay-roll Tax Act 1971. 27
s 12 13 s 13
Revenue Laws Amendment (No. 2)
of s 6 (Wages liable to pay-roll tax) 1
Amendment
Clause 12.(1) Section 6(1)(a)-- 2
omit, insert-- 3
`(a) that are paid or payable in Queensland, other than wages so paid 4
or payable to a person for services performed or rendered-- 5
(i) entirely in another State; or 6
(ii) entirely outside Australia for more than 6 months after 7
wages were first paid to the person for the services; or.'. 8
(2) Section 6-- 9
insert-- 10
`(1A) Subsection (1)(a) applies to wages paid or payable after the 11
commencement of this subsection for services performed or rendered by a 12
person entirely outside Australia, even though the first payment for the 13
services was made before the commencement. 14
`(1B) Subsection (1A) is a law to which the Acts Interpretation Act 1954, 15
section 20A applies. 16
`(1C) Subsections (1A), (1B) and this subsection expire on the day they 17
commence.'. 18
of new s 11 19
Insertion
Clause 13. After section 10-- 20
insert-- 21
from pay-roll tax--certain CWA wages 22
`Exemption
`11.(1) CWA is not required to lodge a return. 23
'(2) Sections 9, 11B and 11C apply to CWA as if-- 24
(a) in section 9(1), the words in the definition "prescribed amount" 25
were `means all taxable wages paid or payable by CWA in the 26
return period'; and 27
(b) the words in section 11B(1)(b) were `all taxable wages paid or 28
payable by CWA during the financial year'; and 29
s 13 14 s 13
Revenue Laws Amendment (No. 2)
(c) in section 11C(1), in the definition "total amount of pay-roll tax", 1
the words in paragraph (b) were `all taxable wages paid or 2
payable by CWA during the prescribed period'. 3
`(3) However, CWA is required to lodge a return and subsection (2) 4
does not apply if-- 5
(a) wages are paid or payable by CWA in carrying on a business 6
activity predominantly on a commercial basis ("CWA's 7
commercial wages"); or 8
(b) CWA is a member of a group. 9
`(4) If only subsection (3)(a) applies, tax payable is the amount bearing 10
the same proportion to tax payable on CWA's taxable wages as CWA's 11
commercial wages bear to taxable wages before deducting the prescribed 12
amount. 13
`(5) If subsection (3)(b) applies, the annual amount of tax payable by the 14
members of the group must be reduced by an amount bearing the same 15
proportion to the tax payable as CWA's taxable wages (other than CWA's 16
commercial wages) bear to the taxable wages paid or payable by the 17
members of the group. 18
`(6) For this section, a business activity by CWA is taken to be 19
conducted on a commercial basis if it is conducted in a similar way to 20
similar business activities conducted by anyone else on a commercial basis. 21
`(7) For this section, a business activity does not include-- 22
(a) the conduct of a student hostel; and 23
(b) the conduct of a hostel subsidised under the Aged or Disabled 24
Persons Care Act 1954 (Cwlth); and 25
(c) an activity of a type prescribed under a regulation. 26
`(8) In this section-- 27
"CWA" means Queensland Country Women's Association.'. 28
29
© State of Queensland 1995
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