REVENUE LEGISLATION AMENDMENT ACT 2017 - As at 22 June 2017 - Act 20 of 2017

Table of Provisions

PART 1 - PRELIMINARY

• 1 Short title
• 2 Commencement

PART 2 - AMENDMENT OF DUTIES ACT 2001

• 3 Act amended
• 4 Amendment of s 116 (Exemption—particular agreements entered into before registration of company)
• 5 Amendment of s 232 (What is AFAD residential land)
• 6 Amendment of s 237 (What is a foreign trust)
• 7 Amendment of s 240 (Conditions for imposing AFAD)
• 8 Amendment of s 241 (Property condition for imposing AFAD)
• 9 Insertion of new s 241A
• 10 Amendment of s 242 (Definitions for pt 4)
• 11 Amendment of s 244 (AFAD for transfer duty)
• 12 Insertion of new ch 4, pt 5, div 1, hdg
• 13 Amendment of s 246A (Reassessment if corporation or trust becomes foreign)
• 14 Insertion of new ch 4, pt 5, divs 2–3
• 15 Amendment of s 246B (Charge over interest in land for unpaid transfer duty)
• 16 Replacement of s 246I (Recovery of transfer duty payment from foreign persons)
• 17 Insertion of new ch 17, pt 23
• 18 Amendment of sch 6 (Dictionary)

PART 3 - AMENDMENT OF FIRST HOME OWNER GRANT ACT 2000

• 19 Act amended
• 20 Amendment of pt 3, div 6, hdg (Particular eligible transactions—2016–2017 financial year)
• 21 Amendment of s 25D (Meaning of particular eligible transaction for div 6)

PART 4 - AMENDMENT OF LAND TAX ACT 2010

• 22 Act amended
• 23 Insertion of new s 22A
• 24 Amendment of s 32 (Rate of land tax generally)
• 25 Amendment of s 78 (Notice of change of ownership of land)
• 26 Insertion of new s 83A
• 27 Insertion of new pt 10, div 7
• 28 Amendment of sch 2 (Rate of land tax—companies, absentees and trustees)
• 29 Insertion of new sch 3

PART 5 - AMENDMENT OF TAXATION ADMINISTRATION ACT 2001

• 30 Act amended
• 31 Replacement of pt 8, hdg (Confidentiality)
• 32 Insertion of new pt 8, div 2
• 33 Amendment of sch 2 (Dictionary)