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This is a Bill, not an Act. For current law, see the Acts databases.
PARLIAMENT OF VICTORIA
State Taxation (Amendment) Act 1998
Act No.
TABLE OF PROVISIONS
Clause Page
PART 1--PRELIMINARY 1
1. Purpose 1
2. Commencement 2
PART 2--DEBITS TAX ACT 1990 3
3. Exemption as a consequence of branch closures 3
PART 3--FINANCIAL INSTITUTIONS DUTY ACT 1982 4
4. Update of reference and repeal of spent provisions 4
5. Statute law revision 4
PART 4--PAY-ROLL TAX ACT 1971 5
6. Victoria includes coastal waters 5
7. Definition of wages expanded 5
8. Wages liable to tax 5
9. Reduction in rate of pay-roll tax 6
PART 5--RACING ACT 1958 7
10. Abolition of rebates for bookmakers' turnover tax collected at
metropolitan race meetings 7
PART 6--STAMPS ACT 1958 9
11. Family farm exemption 9
12. Pensioners' and first home buyers' exemptions 10
13. Alteration of thresholds for marginal rates of conveyance duty 13
14. Statute law revision 13
PART 7--TAXATION ADMINISTRATION ACT 1997 14
15. New section 108 substituted 14
108. Must tax be paid before a review or appeal is
determined? 14
i
532061B.I1-21/4/98
Clause Page
PART 8--TAXATION (RECIPROCAL POWERS) ACT 1987 15
16. Definitions 15
17. New section 3A inserted 15
3A. Declared revenue laws 15
NOTES 17
ii
532061B.I1-21/4/98
PARLIAMENT OF VICTORIA
A BILL
to amend the Debits Tax Act 1990, the Financial Institutions Duty
Act 1982, the Pay-roll Tax Act 1971, the Racing Act 1958, the
Stamps Act 1958, the Taxation Administration Act 1997 and the
Taxation (Reciprocal Powers) Act 1987 and for other purposes.
State Taxation (Amendment) Act 1998
The Parliament of Victoria enacts as follows:
PART 1--PRELIMINARY
1. Purpose
The purpose of this Act is to amend the Debits
Tax Act 1990, the Financial Institutions Duty
5 Act 1982, the Pay-roll Tax Act 1971, the Racing
Act 1958, the Stamps Act 1958, the Taxation
Administration Act 1997 and the Taxation
(Reciprocal Powers) Act 1987.
1
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 2
Act No.
2. Commencement
(1) This Act (except sections 3, 6, 8, 10, 12 and 13)
comes into operation on the day on which it
receives the Royal Assent.
5 (2) Sections 6 and 8 are deemed to have come into
operation on 1 January 1998.
(3) Section 13 is deemed to have come into operation
on 21 April 1998.
(4) Section 12 comes into operation on 1 July 1998.
10 (5) Section 3 comes into operation on a day to be
proclaimed.
(6) Subject to sub-section (7), section 10 comes into
operation on a day to be proclaimed.
(7) If section 10 does not come into operation before
15 1 July 1999, it comes into operation on that day.
_______________
2
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 3
Act No.
PART 2--DEBITS TAX ACT 1990
No. 78/1990.
3. Exemption as a consequence of branch closures
Reprint No. 1
In section 3(1) of the Debits Tax Act 1990, in the as at 21 June
1995. Further
definition of "exempt debit" after paragraph (d) amended by
5 insert-- Nos 10/1996,
40/1997 and
86/1997.
"(da) that is made solely because of the closure of
the account as a result of the closure,
amalgamation or re-structure of the branch
of the financial institution at which the
10 account is kept; or".
_______________
3
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 4
Act No.
PART 3--FINANCIAL INSTITUTIONS DUTY ACT 1982
No. 9850. 4. Update of reference and repeal of spent provisions
Reprint No. 3
In the Financial Institutions Duty Act 1982--
as at
22 August
1997. Further (a) in section 3(1), in the definition of "financial
amended by
5 institution", for paragraph (q) substitute--
No. 86/1997.
"(q) Credit Union Services Corporation
(Australia) Limited;";
(b) in section 38 sub-sections (2) and (3) are
repealed.
10 5. Statute law revision
In the Financial Institutions Duty Act 1982--
(a) in section 3(1), in the definition of "approved
superannuation scheme" in paragraph (a) for
"employés" where twice occurring
15 substitute "employees";
(b) in section 23(1)(b) and (c)--
(i) for "employé" (wherever occurring)
substitute "employee";
(ii) for "employés" (wherever occurring)
20 substitute "employees";
(c) in section 24(1)(b) and (c)--
(i) for "employé" (wherever occurring)
substitute "employee";
(ii) for "employés" (wherever occurring)
25 substitute "employees";
(d) in section 25(11)(a) for "bank by which
account is kept" substitute "bank with which
the account is kept".
_______________
30
4
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 6
Act No.
PART 4--PAY-ROLL TAX ACT 1971
No. 8154.
6. Victoria includes coastal waters
Reprint No. 6
In section 3(1) of the Pay-roll Tax Act 1971 as at
22 August
insert the following definitions-- 1997. Further
amended by
5 ' "coastal waters of Victoria" has the same Nos 80/1997
and 86/1997.
meaning as "coastal waters of the State" has
in relation to Victoria in the Coastal Waters
(State Powers) Act 1980 of the
Commonwealth;
10 "Victoria" includes the coastal waters of
Victoria;'.
7. Definition of wages expanded
In section 3(1) of the Pay-roll Tax Act 1971, in
the definition of "wages"--
15 (a) for "employé" (wherever occurring)
substitute "employee";
(b) in paragraph (c) for "to a director" substitute
"to or in relation to a director".
8. Wages liable to tax
20 (1) In section 6(1)(a) of the Pay-roll Tax Act 1971
for sub-paragraph (ii) substitute--
"(ii) subject to sub-section (1AAA), services
performed or rendered by a person wholly in
another country for a continuous period of
25 more than 6 months beginning on the day on
which wages were first paid or payable to
that person for services so performed or
rendered; or".
5
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 9
Act No.
(2) After section 6(1) of the Pay-roll Tax Act 1971
insert--
"(1AAA) Wages referred to in sub-section (1)(a)(ii)
are liable to pay-roll tax under this Act
5 during the period of 6 months beginning on
the day on which wages were first paid or
payable for the relevant services.".
9. Reduction in rate of pay-roll tax
In section 7(1) of the Pay-roll Tax Act 1971--
10 (a) in paragraph (f) after "1997" insert "and
before the month of July 1998";
(b) after paragraph (f) insert--
"; and
(g) at the rate of 6% in respect of such of
15 those wages as are paid or payable after
the month of June 1998 and are not
liable to pay-roll tax at the rate
prescribed in paragraph (c), (d), (e) or
(f).".
20 _______________
6
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 10
Act No.
PART 5--RACING ACT 1958
No. 6353.
10. Abolition of rebates for bookmakers' turnover tax
Reprint No. 10
collected at metropolitan race meetings as at
22 August
(1) In section 119 of the Racing Act 1958-- 1997. Further
amended by
5 (a) paragraphs (a) and (b) are repealed; No. 93/1997.
(b) in paragraph (c) for ", other than harness
race-meetings referred to in paragraph (b)"
substitute "held at a race-course more than
32 kilometres from the General Post Office,
10 Melbourne";
(c) in paragraph (e)--
(i) sub-paragraph (i) is repealed;
(ii) in sub-paragraph (ii) for "other than
those referred to in sub-paragraph (i)"
15 substitute "held at a race-course more
than 32 kilometres from the General
Post Office, Melbourne";
(d) for paragraph (f) substitute--
"(f) to the Victorian Country Racing
20 Council Inc an amount equal to twenty-
nine seventieths of the amount in that
year paid to the Commissioner of State
Revenue by way of stamp duty on
bookmakers' statements in respect of
25 bets made at horse race-meetings held
at a race-course more than 32
kilometres from the General Post
Office, Melbourne.".
(2) At the end of section 119 of the Racing Act 1958
30 insert--
"(2) Despite anything to the contrary in section
10(1) of the State Taxation (Amendment)
7
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 10
Act No.
Act 1998, this section as in force
immediately before the commencement of
that section continues to apply with respect
to amounts paid to the Commissioner of
5 State Revenue by way of stamp duty on
bookmakers' statements in respect of bets
made at race-meetings held before the
commencement of that section.".
_______________
10
8
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 11
Act No.
PART 6--STAMPS ACT 1958
No. 6375.
11. Family farm exemption
Reprint No. 14
In section 71 of the Stamps Act 1958-- as at
1 September
1997. Further
(a) in sub-section (1)--
amended by
No. 86/1997.
5 (i) for "This section applies to an
instrument of conveyance of real
property that is a single farming
enterprise" substitute "This section
applies to an instrument of conveyance
10 executed on or after 2 December 1997
of real property that is land referred to
in section 9(1)(ga), (h) or (ha) of the
Land Tax Act 1958";
(ii) in paragraph (b) for sub-paragraph (iii)
15 substitute--
"(iii) a trustee under a discretionary
trust the terms of which do not
allow the distribution of the whole
or any part of the capital of the
20 trust that comprises land referred
to in section 9(1)(ga), (h) or (ha)
of the Land Tax Act 1958 to any
person or body other than a person
or body referred to in sub-
25 paragraph (ii).";
(b) sub-sections (5), (6), (7), (8), (9), (10), (11),
(12), (13), (14) and (15) are repealed;
(c) in sub-section (16), the definitions of
"business of primary production" and "single
30 farming enterprise" are repealed.
9
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 12
Act No.
12. Pensioners' and first home buyers' exemptions
(1) In section 71A of the Stamps Act 1958--
(a) in sub-section (3B)(c) for "$100 000"
substitute "$130 000";
5 (b) in sub-section (4)(b) for "$70 000"
substitute "$100 000";
(c) in sub-section (5) for paragraph (b)
substitute--
"(b) the value of the real property exceeds
10 $100 000 but does not exceed
$130 000--";
(d) in sub-section (5) for the formula
substitute--
"28 600 22 P
-
3 300";
15 (e) in sub-section (6)(b) for "$70 000"
substitute "$100 000";
(f) in sub-section (7) for paragraph (b)
substitute--
"(b) the aggregate of the value of the real
20 property at the time the conveyance
was made and the cost of the
construction of the dwelling exceeds
$100 000 but does not exceed
$115 000--";
25 (g) in sub-section (7) for the formula
substitute--
22(130 000 - P)
"SD ×
7 2 P - 60 000".
(2) After section 71A(7) of the Stamps Act 1958
insert--
10
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 12
Act No.
"(8) Where, in relation to an instrument of
conveyance of real property on which at the
time the conveyance was made there was not
a dwelling but on which at the date of the
5 application to the Comptroller of Stamps
under this section there is a dwelling--
(a) the transferee is an eligible person for
the purposes of this section; and
(b) the aggregate of the value of the real
10 property at the time the conveyance
was made and the cost of the
construction of the dwelling exceeds
$115 000 but does not exceed
$130 000----
15 the transferee may make application in
writing to the Comptroller of Stamps for an
amount, by way of refund of or exemption
from stamp duty paid or payable on the
conveyance, calculated in accordance with
20 the formula--
11(130 000 - P)
SD ×
3(3 P - 217 000)
where--
(c) SD is the amount of stamp duty paid or
payable (but for this sub-section) on the
25 instrument of conveyance;
(d) P is the amount that is the aggregate of
the value of the real property at the
time the conveyance was made and the
cost of the construction of the
30 dwelling.".
(3) In section 71B of the Stamps Act 1958--
(a) in sub-section (3)(g) for "$150 000"
substitute "$165 000";
11
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 12
Act No.
(b) in sub-section (4)(b) for "$100 000"
substitute "$115 000";
(c) in sub-section (5) for paragraph (b)
substitute--
5 "(b) the value of the real property exceeds
$115 000 but is less than $165 000--";
(d) in sub-section (5) for the formula
substitute--
256 P
"8448 -
5000";
10 (e) in sub-section (6) for paragraph (d)
substitute--
"(d) the value of the real property exceeds
$115 000 but is less than $165 000--";
(f) in sub-section (6) for the formula
15 substitute--
256(165 000 - P)
"SD ×
100(3 P - 217 000)";
(g) in sub-section (7)(b) for "$100 000"
substitute "$115 000";
(h) in sub-section (8) for paragraph (b)
20 substitute--
"(b) the aggregate of the value of the real
property at the time the conveyance
was made and the cost of the
construction of the dwelling exceeds
25 $115 000 but is less than $165 000--";
(i) in sub-section (8) for the formula
substitute--
256(165 000 - P)
"SD ×
100(3 P - 217 000)".
12
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 13
Act No.
13. Alteration of thresholds for marginal rates of
conveyance duty
(1) In the Third Schedule to the Stamps Act 1958, for
the Table under Heading VI substitute--
5 "THE TABLE
Item Column 1 Column 2 Column 3
1 $0 $20 000 1·40% of the value
of the property
2 $20 001 $115 000 $280 and 2·40% of
that part of the
value of the
property that
exceeds $20 000
3 $115 001 $870 000 $2560 and 6·00%
of that part of the
value of the
property that
exceeds $115 000
4 $870 001 5·5% of the value
of the property".
(2) The Table under Heading VI in the Third
Schedule to the Stamps Act 1958, as in force
immediately before the commencement of this
section, continues to apply to a transfer or other
10 instrument executed or made on or after that
commencement as a result of an agreement
entered into before that commencement.
14. Statute law revision
In section 112 of the Stamps Act 1958, in the
15 definition of "bookmaker" for "employé"
substitute "employee".
_______________
13
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 15
Act No.
PART 7--TAXATION ADMINISTRATION ACT 1997
No. 40/1997 15. New section 108 substituted
as amended
by Nos
For section 108 of the Taxation Administration
86/1997 and
Act 1997 substitute--
93/1997.
5 "108. Must tax be paid before a review or appeal
is determined?
(1) A taxpayer may make a request under
section 106(1) for a review or appeal
whether or not the tax to which it relates has
10 been paid.
(2) If a taxpayer makes a request before the tax
has been paid, the Commissioner may apply
to the Supreme Court for an order that the
tax, or a specified part of it, be paid before
15 the review or appeal proceed.
(3) On an application under sub-section (2), the
Supreme Court may order that the review or
appeal not proceed until the tax, or a
specified part of it, is paid.
20 (4) The Supreme Court may make an order
under sub-section (3) only if satisfied that it
is reasonably likely that, unless the order is
made, any tax payable by the taxpayer in
accordance with the determination of the
25 review or appeal would not be paid within
the period within which it is payable.".
_______________
14
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 16
Act No.
PART 8--TAXATION (RECIPROCAL POWERS) ACT 1987
No. 37/1987.
16. Definitions
Reprint No. 1
In section 3(1) of the Taxation (Reciprocal as at
19 September
Powers) Act 1987-- 1996. Further
amended by
5 (a) for the definition of "State Commissioner" Nos 31/1997,
36/1997 and
substitute--
40/1997.
' "State Commissioner" means
Commissioner of State Revenue under
the Taxation Administration Act
10 1997;'.
17. New section 3A inserted
After section 3 of the Taxation (Reciprocal
Powers) Act 1987 insert--
"3A. Declared revenue laws
15 (1) The Governor in Council may, by Order
published in the Government Gazette,
declare--
(a) a law of the Commonwealth or of
another State or a Territory that is a
20 revenue law within the meaning of an
Act of the Commonwealth, the other
State or the Territory corresponding to
this Act to be a declared revenue law
for the purposes of this Act; and
25 (b) an office under a law of the
Commonwealth, the other State or the
Territory to be a declared office in
relation to that revenue law.
(2) This Act has effect in relation to a declared
30 revenue law as if--
(a) a reference in this Act to the State
Commissioner under a State Taxation
15
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
s. 17
Act No.
Act were a reference to the State
Commissioner; and
(b) a reference in this Act to a
Corresponding Commissioner were a
5 reference to the holder of the declared
office in relation to the declared
revenue law; and
(c) a reference in this Act to a
corresponding law were a reference to
10 the declared revenue law.".
16
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
Notes
Act No.
NOTES
By Authority. Government Printer for the State of Victoria.
17
532061B.I1-21/4/98
State Taxation (Amendment) Act 1998
Act No.
18
532061B.I1-21/4/98
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