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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Revenue Laws Amendment (Taxation) Bill
(No. 2) 2001
CONTENTS
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
Part 2 -- Land Tax Act 1976
3. The Act amended 3
4. Section 12 amended 3
5. Section 13 inserted 3
6. Schedule 9 inserted 4
Part 3 -- Pay-roll Tax Act 1971
7. The Act amended 5
8. Section 5 amended 5
9. Section 6 amended 9
10 . Section 7 amended 14
11 . Existing rates and liabilities not affected 21
12 . The Revenue Laws Amendment (Taxation) Act 2001
amended 21
Part 4 -- Stamp Act 1921
13 . The Act amended 22
14 . Section 31D inserted 22
15 . Section 63AF inserted 22
page i
62--1
Western Australia
LEGISLATIVE ASSEMBLY
Revenue Laws Amendment (Taxation) Bill
(No. 2) 2001
A Bill for
An Act to amend the --
· Land Tax Act 1976;
· Pay-roll Tax Act 1971; and
· Stamp Act 1921.
The Parliament of Western Australia enacts as follows:
page 1
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 1 Preliminary
s. 1
Part 1 -- Preliminary
1. Short title
This Act may be cited as the Revenue Laws Amendment
(Taxation) Act (No. 2) 2001.
5 2. Commencement
(1) Subject to this section, this Act comes into operation on the day
on which it receives the Royal Assent.
(2) Part 3, other than section 12, comes into operation on
1 January 2002.
10 (3) Section 12 is deemed to have come into operation on
1 July 2001.
(4) Section 14 comes into operation, or is taken to have come into
operation, at the same time as Part 5 of the Revenue Laws
Amendment (Assessment) Act (No. 2) 2001.
15 (5) Section 15 comes into operation, or is taken to have come into
operation, at the same time as Part 6 of the Revenue Laws
Amendment (Assessment) Act (No. 2) 2001.
page 2
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Land Tax Act 1976 Part 2
s. 3
Part 2 -- Land Tax Act 1976
3. The Act amended
The amendments in this Part are to the Land Tax Act 1976*.
[* Act No. 13 of 1976.
5 For subsequent amendments see 2000 Index to Legislation of
Western Australia, Table 1, p. 237.]
4. Section 12 amended
Section 12 is amended by inserting after "thereafter" --
"
10 to and including the year of assessment commencing
on 1 July 2001
".
5. Section 13 inserted
After section 12 the following section is inserted --
15 "
13. Land tax rate from 2002
For the year of assessment commencing on
1 July 2002, and for each subsequent year of
assessment, land tax is imposed, and shall be payable
20 pursuant to the Land Tax Assessment Act 1976, at the
rate shown in Schedule 9.
".
page 3
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 2 Land Tax Act 1976
s. 6
6. Schedule 9 inserted
After Schedule 8 the following Schedule is inserted --
"
Schedule 9
5 [s. 13]
Unimproved value of
the land under the Rate
Land Tax Assessment
Act 1976
Exceeding Not
exceeding
$ $
0 50 000 Nil
50 000 100 000 $75.00 + 0.15 cent for each $1 in excess of $50 000
100 000 190 000 $150.00 + 0.25 cent for each $1 in excess of $100 000
190 000 325 000 $375.00 + 0.45 cent for each $1 in excess of $190 000
325 000 550 000 $982.50 + 0.80 cent for each $1 in excess of $325 000
550 000 850 000 $2 782.50 + 1.20 cents for each $1 in excess of $550 000
850 000 1 250 000 $6 382.50 + 1.60 cents for each $1 in excess of $850 000
1 250 000 2 000 000 $12 782.50 + 2.00 cents for each $1 in excess of $1 250 000
2 000 000 5 000 000 $27 782.50 + 2.30 cents for each $1 in excess of $2 000 000
5 000 000 $96 782.50 + 2.50 cents for each $1 in excess of $5 000 000
".
page 4
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 7
Part 3 -- Pay-roll Tax Act 1971
7. The Act amended
The amendments in this Part, other than those in section 12, are
to the Pay-roll Tax Act 1971*.
5 [* Reprinted as at 10 November 2000.
For subsequent amendments see Act No. 4 of 2001.]
8. Section 5 amended
(1) Section 5(1) is amended by inserting after "rate" in the first
place where it occurs --
10 " or rates ".
(2) Section 5(2), (3) and (4) are repealed and the following
subsections are inserted instead --
"
(2) If the amount of taxable wages paid or payable by an
15 employer for a month, or a part of a month (the
"part-month"), after the month of December 2001
is --
(a) not more than $225 000 × M, the rate of
pay-roll tax payable for the month or
20 part-month is 3.65%;
(b) more than $225 000 × M but less than
$375 000 × M, the rate of pay-roll tax payable
for the month or part-month is R%, where --
8 212.50 M + 0.06025 (W - 225 000 M )
R= × 100
W
25 (calculated to 4 decimal points)
W = amount of taxable wages paid or payable
for the month or part-month;
page 5
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 8
(c) not less than $375 000 × M but less than
$468 750 × M, the rate of pay-roll tax payable
for the month or part-month is R%, where --
17 250.00 M + 0.1160 (W - 375 000 M )
R= ×100
W
5 (calculated to 4 decimal points)
W = amount of taxable wages paid or payable
for the month or part-month;
(d) $468 750 × M or more, the rate of pay-roll tax
payable for the month or part-month is 6.00%.
10 (3) If the amount of taxable wages paid or payable by an
employer for the financial year commencing on
1 July 2001, or a part of that financial year (the
"part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
15 pay-roll tax for the year or part-year is 3.65%;
(b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
98 550 Y + 0.06025 (W - 2 700 000 Y )
R= × 100
W
20 (calculated to 4 decimal points)
W = amount of taxable wages paid or payable
for the year or part-year;
page 6
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 8
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax for --
(i) the half-year commencing on
1 July 2001 and ending on
5 31 December 2001, or a part of the
half-year, is R%, where --
207 000 Y + 0.0940 (W - 4 500 000 Y )
R= × 100
W
(calculated to 4 decimal points)
W = amount of taxable wages paid or
10 payable for the year or part-year;
(ii) the half-year commencing on
1 January 2002 and ending on
30 June 2002, or a part of the half-year,
is R%, where --
207 000 Y + 0.1160 (W - 4 500 000 Y )
15 R= × 100
W
(calculated to 4 decimal points)
W = amount of taxable wages paid or
payable for the year or part-year;
(d) $5 625 000 × Y or more, the rate of pay-roll tax
20 for --
(i) the half-year commencing on
1 July 2001 and ending on
31 December 2001, or a part of the
half-year, is 5.56%;
25 (ii) the half-year commencing on
1 January 2002 and ending on
30 June 2002, or a part of the half-year,
is 6.00%.
(4) If the amount of taxable wages paid or payable by an
30 employer for a financial year commencing on
page 7
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 8
1 July 2002 or 1 July of a subsequent year, or a part of
such a financial year (the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax for the year or part-year is 3.65%;
5 (b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
98 550 Y + 0.06025 (W - 2 700 000 Y )
R= × 100
W
(calculated to 4 decimal points)
10 W = amount of taxable wages paid or payable
for the year or part-year;
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
207 000 Y + 0.1160 (W - 4 500 000 Y )
15 R= × 100
W
(calculated to 4 decimal points)
W = amount of taxable wages paid or payable
for the year or part-year;
(d) $5 625 000 × Y or more, the rate of pay-roll tax
20 for the year or part-year is 6.00%.
(5) In this section --
M= the number of days in the month, or part-month,
for which taxable wages were paid or payable
divided by the number of days in the month;
25 Y= the number of days in the financial year, or
part-year, for which taxable wages were paid or
payable divided by the number of days in the
financial year.
".
page 8
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 9
9. Section 6 amended
(1) Section 6(1) is amended by inserting after "rate" in the first
place where it occurs --
" or rates ".
5 (2) Section 6(2) and (3) are amended by deleting "5.56%" and
inserting instead --
" 6.00% ".
(3) Section 6(5) is amended by deleting "subsection (6)" and
inserting instead --
10 " subsection (6) or (8) ".
(4) Section 6(6), (7) and (8) are repealed and the following
subsections are inserted instead --
"
(6) If the estimated total interstate wages and taxable
15 wages paid or payable by an employer for the financial
year commencing on 1 July 2001, or a part of that
financial year (the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax payable each month for the year or
20 part-year is to be determined as 3.65%;
(b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax payable
each month for the year or part-year is to be
determined as R%, where --
98 550 Y + 0.06025 (E - 2 700 000 Y )
25 R= × 100
E
(calculated to 2 decimal points)
E= amount of total interstate wages and taxable
wages estimated to be paid or payable for
the year or part-year;
page 9
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 9
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax payable
each month for --
(i) the half-year commencing on
5 1 July 2001 and ending on
31 December 2001, or a part of the
half-year, is to be determined as R%,
where --
207 000 Y + 0.0940 (E - 4 500 000 Y )
R= × 100
E
10 (calculated to 2 decimal points)
E = amount of total interstate wages and
taxable wages estimated to be paid or
payable for the year or part-year;
(ii) the half-year commencing on
15 1 January 2002 and ending on
30 June 2002, or a part of the half-year,
is to be determined as R%, where --
207 000 Y + 0.1160 (E - 4 500 000 Y )
R= × 100
E
(calculated to 2 decimal points)
20 E = amount of total interstate wages and
taxable wages estimated to be paid or
payable for the year or part-year;
(d) $5 625 000 × Y or more, no determination is to
be made under this subsection.
25 (7) Subject to subsection (11), if the amount of total
interstate wages and taxable wages paid or payable by
an employer for the financial year commencing on
1 July 2001, or a part of that financial year (the
"part-year"), is --
30 (a) not more than $2 700 000 × Y, the rate of
pay-roll tax for the year or part-year is 3.65%;
page 10
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 9
(b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
98 550 Y + 0.06025 (W - 2 700 000 Y )
R= × 100
W
5 (calculated to 4 decimal points)
W = amount of total interstate wages and taxable
wages paid or payable for the year or
part-year;
(c) not less than $4 500 000 × Y but less than
10 $5 625 000 × Y, the rate of pay-roll tax for --
(i) the half-year commencing on
1 July 2001 and ending on
31 December 2001, or a part of the
half-year, is R%, where --
207 000 Y + 0.0940 (W - 4 500 000 Y )
15 R= × 100
W
(calculated to 4 decimal points)
W = amount of total interstate wages and
taxable wages paid or payable for the
year or part-year;
20 (ii) the half-year commencing on
1 January 2002 and ending on
30 June 2002, or a part of the half-year,
is R%, where --
207 000 Y + 0.1160 (W - 4 500 000 Y )
R= × 100
W
25 (calculated to 4 decimal points)
W = amount of total interstate wages and
taxable wages paid or payable for the
year or part-year;
page 11
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 9
(d) $5 625 000 × Y or more, the rate of pay-roll tax
for --
(i) the half-year commencing on
1 July 2001 and ending on
5 31 December 2001, or a part of the
half-year, is 5.56%;
(ii) the half-year commencing on
1 January 2002 and ending on
30 June 2002, or a part of the half-year,
10 is 6.00%.
(8) If the estimated total interstate wages and taxable
wages paid or payable by an employer for a financial
year commencing on 1 July 2002 or 1 July of a
subsequent year, or a part of such a financial year (the
15 "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax payable each month for the year or
part-year is to be determined as 3.65%;
(b) more than $2 700 000 × Y but less than
20 $4 500 000 × Y, the rate of pay-roll tax payable
each month for the year or part-year is to be
determined as R%, where --
98 550 Y + 0.06025 (E - 2 700 000 Y )
R= × 100
E
(calculated to 2 decimal points)
25 E= amount of total interstate wages and taxable
wages estimated to be paid or payable for
the year or part-year;
page 12
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 9
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax payable
each month for the year or part-year is to be
determined as R%, where --
207 000 Y + 0.1160 (E - 4 500 000 Y )
5 R= × 100
E
(calculated to 2 decimal points)
E= amount of total interstate wages and taxable
wages estimated to be paid or payable for
the year or part-year;
10 (d) $5 625 000 × Y or more, no determination is to
be made under this subsection.
(9) Subject to subsection (11), if the amount of total
interstate wages and taxable wages paid or payable by
an employer for a financial year commencing on
15 1 July 2002 or 1 July of a subsequent year, or a part of
such a financial year (the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax for the year or part-year is 3.65%;
(b) more than $2 700 000 × Y but less than
20 $4 500 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
98 550 Y + 0.06025 (W - 2 700 000 Y )
R= × 100
W
(calculated to 4 decimal points)
W = amount of total interstate wages and taxable
25 wages paid or payable for the year or
part-year;
page 13
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 10
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
207 000 Y + 0.1160 (W - 4 500 000 Y )
R= × 100
W
5 (calculated to 4 decimal points)
W = amount of total interstate wages and taxable
wages paid or payable for the year or
part-year;
(d) $5 625 000 × Y or more, the rate of pay-roll tax
10 for the year or part-year is 6.00%.
(10) In subsections (6) to (9) --
Y= the number of days in the financial year, or
part-year, for which interstate wages or taxable
wages were paid or payable or estimated to be paid
15 or payable divided by the number of days in the
financial year.
".
(5) Section 6(11) is amended as follows:
(a) by deleting "subsection (7)" and inserting instead --
20 " subsections (7) and (9) ";
(b) by deleting "5.56%" and inserting instead --
" 6.00% ".
10. Section 7 amended
(1) Section 7(1) is amended by inserting after "rate" in the first
25 place where it occurs --
" or rates ".
page 14
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 10
(2) Section 7(2) and (3) are amended by deleting "5.56%" and
inserting instead --
" 6.00% ".
(3) Section 7(5)(b) is amended by deleting "5.56%" and inserting
5 instead --
" 6.00% ".
(4) Section 7(6) is amended by deleting "subsection (7)" and
inserting instead --
" subsection (7) or (9) ".
10 (5) Section 7(7), (8) and (9) are repealed and the following
subsections are inserted instead --
"
(7) If the estimated total interstate wages and taxable
wages paid or payable by all members of a group
15 throughout Australia for the financial year
commencing on 1 July 2001, or a part of that financial
year (the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax payable each month by each
20 member of the group for the year or part-year is
to be determined as 3.65%;
(b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax payable
each month by each member of the group for
25 the year or part-year is to be determined as R%,
where --
98 550 Y + 0.06025 (E - 2 700 000 Y )
R= × 100
E
(calculated to 2 decimal points)
E= amount of total interstate wages and taxable
30 wages estimated to be paid or payable for
page 15
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 10
the year or part-year by all members of the
group throughout Australia;
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax payable
5 each month by each member of the group
for --
(i) the half-year commencing on
1 July 2001 and ending on
31 December 2001, or a part of the
10 half-year, is to be determined as R%,
where --
207 000 Y + 0.0940 (E - 4 500 000 Y )
R= × 100
E
(calculated to 2 decimal points)
E = amount of total interstate wages and
15 taxable wages estimated to be paid or
payable for the year or part-year by
all members of the group throughout
Australia;
(ii) the half-year commencing on
20 1 January 2002 and ending on
30 June 2002, or a part of the half-year,
is to be determined as R%, where --
207 000 Y + 0.1160 (E - 4 500 000 Y )
R= × 100
E
(calculated to 2 decimal points)
25 E = amount of total interstate wages and
taxable wages estimated to be paid or
payable for the year or part-year by
all members of the group throughout
Australia;
30 (d) $5 625 000 × Y or more, no determination is to
be made under this subsection.
page 16
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 10
(8) Subject to subsection (12), if the amount of total
interstate wages and taxable wages paid or payable by
all members of a group throughout Australia for the
financial year commencing on 1 July 2001, or a part of
5 that financial year (the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax for the year or part-year is 3.65%;
(b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax for the
10 year or part-year is R%, where --
98 550 Y + 0.06025 (W - 2 700 000 Y )
R= × 100
W
(calculated to 4 decimal points)
W = amount of total interstate wages and taxable
wages paid or payable for the year or
15 part-year by all members of the group
throughout Australia;
(c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax for --
(i) the half-year commencing on
20 1 July 2001 and ending on
31 December 2001, or a part of the
half-year, is R%, where --
207 000 Y + 0.0940 (W - 4 500 000 Y )
R= × 100
W
(calculated to 4 decimal points)
25 W = amount of total interstate wages and
taxable wages paid or payable for the
year or part-year by all members of
the group throughout Australia;
page 17
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 10
(ii) the half-year commencing on
1 January 2002 and ending on
30 June 2002, or a part of the half-year,
is R%, where --
207 000 Y + 0.1160 (W - 4 500 000 Y )
5 R= × 100
W
(calculated to 4 decimal points)
W = amount of total interstate wages and
taxable wages paid or payable for the
year or part-year by all members of
10 the group throughout Australia;
(d) $5 625 000 × Y or more, the rate of pay-roll tax
for --
(i) the half-year commencing on
1 July 2001 and ending on
15 31 December 2001, or a part of the
half-year, is 5.56%;
(ii) the half-year commencing on
1 January 2002 and ending on
30 June 2002, or a part of the half-year,
20 is 6.00%.
(9) If the estimated total interstate wages and taxable
wages paid or payable by all members of a group
throughout Australia for a financial year commencing
on 1 July 2002 or 1 July of a subsequent year, or a part
25 of such a financial year (the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax payable each month by each
member of the group for the year or part-year is
to be determined as 3.65%;
30 (b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax payable
each month by each member of the group for
page 18
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 10
the year or part-year is to be determined as R%,
where --
98 550 Y + 0.06025 (E - 2 700 000 Y )
R= × 100
E
(calculated to 2 decimal points)
5 E= amount of total interstate wages and taxable
wages estimated to be paid or payable for
the year or part-year by all members of the
group throughout Australia;
(c) not less than $4 500 000 × Y but less than
10 $5 625 000 × Y, the rate of pay-roll tax payable
each month by each member of the group for
the year or part-year is to be determined as R%,
where --
207 000 Y + 0.1160 (E - 4 500 000 Y )
R= × 100
E
15 (calculated to 2 decimal points)
E= amount of total interstate wages and taxable
wages estimated to be paid or payable for
the year or part-year by all members of the
group throughout Australia;
20 (d) $5 625 000 × Y or more, no determination is to
be made under this subsection.
(10) Subject to subsection (12), if the amount of total
interstate wages and taxable wages paid or payable by
all members of a group throughout Australia for a
25 financial year commencing on 1 July 2002 or 1 July of
a subsequent year, or a part of such a financial year
(the "part-year"), is --
(a) not more than $2 700 000 × Y, the rate of
pay-roll tax for the year or part-year is 3.65%;
page 19
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 3 Pay-roll Tax Act 1971
s. 10
(b) more than $2 700 000 × Y but less than
$4 500 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
98 550 Y + 0.06025 (W - 2 700 000 Y )
R= × 100
W
5 (calculated to 4 decimal points)
W = amount of total interstate wages and taxable
wages paid or payable for the year or
part-year by all members of the group
throughout Australia;
10 (c) not less than $4 500 000 × Y but less than
$5 625 000 × Y, the rate of pay-roll tax for the
year or part-year is R%, where --
207 000 Y + 0.1160 (W - 4 500 000 Y )
R= × 100
W
(calculated to 4 decimal points)
15 W = amount of total interstate wages and taxable
wages paid or payable for the year or
part-year by all members of the group
throughout Australia;
(d) $5 625 000 × Y or more, the rate of pay-roll tax
20 for the year or part-year is 6.00%.
(11) In subsections (7) to (10) --
Y= the number of days in the financial year, or
part-year, for which interstate wages or taxable
wages were paid or payable by a member of the
25 group or estimated to be so paid or payable divided
by the number of days in the financial year.
".
(6) Section 7(12) is amended as follows:
(a) by deleting "subsection (8)" and inserting instead --
30 " subsections (8) and (10) ";
page 20
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Pay-roll Tax Act 1971 Part 3
s. 11
(b) by deleting "5.56%" and inserting instead --
" 6.00% ".
11. Existing rates and liabilities not affected
(1) Without limiting the operation of the Interpretation Act 1984,
5 the provisions of the Pay-roll Tax Act 1971 as in force
immediately before commencement, to the extent that they
apply to a period before commencement, continue to have effect
in relation to --
(a) the imposition of pay-roll tax under that Act as so in
10 force in respect of wages paid or payable for that period;
and
(b) the assessment, collection and payment of any pay-roll
tax imposed in respect of such wages,
but only to the extent that their application has not been
15 displaced in respect of that period by a provision of that Act as
in force after commencement.
(2) In this section --
"commencement" means the commencement of this section.
12. The Revenue Laws Amendment (Taxation) Act 2001 amended
20 Section 7 of the Revenue Laws Amendment (Taxation)
Act 2001* is amended as follows:
(a) by deleting "the principal Act", in the first place where
it occurs, and inserting instead --
" the Pay-roll Tax Act 1971 ";
25 (b) by deleting "the principal Act", in the second place
where it occurs, and inserting instead --
" that Act as so in force ".
[* Act No. 4 of 2001.]
page 21
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Part 4 Stamp Act 1921
s. 13
Part 4 -- Stamp Act 1921
13. The Act amended
The amendments in this Part are to the Stamp Act 1921*.
[* Reprinted as at 3 August 2001.]
5 14. Section 31D inserted
Before section 32 the following section is inserted --
"
31D. Duty chargeable on the statement
(1) This section applies to assets transferred under Part 3
10 of the Financial Sector (Transfers of Business)
Act 1999 of the Commonwealth that is property of a
kind that, if there was an instrument effecting or
evidencing its transfer, duty would be chargeable on
the instrument.
15 (2) The statement in section 31C(1) is taken to be an
instrument of transfer for the assets and is chargeable
with duty accordingly.
(3) Duty is payable by the receiving body.
(4) Subsection (2) has effect subject to section 31A.
20 ".
15. Section 63AF inserted
Before section 63A the following section is inserted --
"
63AF. Duty chargeable on the statement
25 (1) A statement prepared under section 63AE shall, subject
to section 31A, be deemed to be a transfer of a unit or
an instrument effecting or evidencing the disposition in
relation to a unit in a unit trust scheme to which it
page 22
Revenue Laws Amendment (Taxation) Bill (No. 2) 2001
Stamp Act 1921 Part 4
s. 15
relates, as the case requires, and is chargeable with
duty accordingly.
(2) Duty chargeable under subsection (1) shall be reduced
by the amount of any duty specified in the Second
5 Schedule item 4A(1) that has been paid in respect of a
conveyance or transfer disclosed in the statement.
(3) Duty is payable by the unit trustee.
".
page 23
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