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This is a Bill, not an Act. For current law, see the Acts databases.
South Australia
Statutes Amendment and Repeal (Budget 2015)
Bill 2015
A BILL FOR
An Act to amend various Acts, and to repeal the
Hindmarsh
Island Bridge Act 1999
, for the purposes of the 2015 State Budget.
Contents
Part 2—Amendment
of Gaming Machines Act 1992
Part 3—Amendment
of Land Tax Act 1936
6Amendment of section 5—Exemption or
partial exemption of certain land from land tax
7Amendment of section
5A—Waiver or refund of land tax for residential land in certain
cases
8Amendment of section 13A—Commissioner may
determine that minor interest is to be disregarded
9Amendment of section 19—Time for payment
of tax
Part 4—Amendment
of Local Government Act 1999
11Amendment of section 294—Power to
enter and occupy land in connection with an activity
Part 5—Amendment
of Motor Vehicles Act 1959
12Amendment of section 38B—Registration
fees for certain incapacitated persons or carers
Part 6—Amendment
of Rates and Land Tax Remission Act 1986
14Amendment of section 1—Short
title
3Entitlement to payment of
concession
16Amendment of section 4—Remission of
rates
17Amendment of section 7—No interest etc
payable
18Amendment of section 8—Offences
etc
Part 7—Amendment
of Stamp Duties Act 1923 that is taken to have effect on
1 July 2011
20Amendment of
section 91—Interpretation
21Amendment of section 102—Value of
notional interest acquired as a result of dutiable transaction
22Amendment of section 102B—Acquisition
statement
23Amendment of section 102G—Multiple
incidences of duty
Part
4AA—Corporate group exemptions
102IDirect and indirect
interests
102JParent corporations and
corporate groups
102KTransactions to which this
Part applies
102PDuty payable if transaction
ceases to be exempt
25Amendment of section
2—Interpretation
26Amendment of section 14—Instruments to
be separately charged
27Amendment of section
31—Certain contracts to be chargeable as conveyances on sale
29Amendment of
section 60A—Value of property conveyed or transferred
31Amendment of section
67—Computation of duty where instruments are interrelated
71CAASpecial
disability trusts
34Amendment of section 71D—Concessional
duty to encourage exploration activity
35Amendment of section 71E—Transactions
otherwise than by dutiable instrument
36Amendment of section
91—Interpretation
37Amendment of section 92—Land
assets
38Insertion of Part 4A Divisions 3, 4 and
5
Division 3—Abolition of duty on
conveyance or transfer of certain property
104CAbolition of duty on
conveyance or transfer of certain property
Division 4—Abolition of gaming machine
surcharge
104FAbolition of
gaming machine surcharge
Division 5—Abolition of duty relating to
financial products
105Abolition of duty relating
to financial products
Part 10—Amendment of Stamp Duties
Act 1923 that takes effect on assent
41Amendment of section
60—Interpretation
42Amendment of section
60A—Value of property conveyed or transferred
43Amendment of section
65—Where consideration consists of real or personal property
44Amendment of section 71—Instruments
chargeable as conveyances
45Amendment of section 71CC—Interfamilial
transfer of farming property
46Amendment of section 71DB—Concessional
duty on purchases of off-the-plan apartments
47Amendment of section
71EA—Interpretation
Part 11—Amendment
of Stamp Duties Act 1923 that takes effect on
1 July 2016
71DCConcessional duty on designated
real property transfers
Part 12—Amendment
of Stamp Duties Act 1923 that takes effect on
1 July 2018
51Amendment of section 71—Instruments
chargeable as conveyances
52Amendment of section 98—Land holding
entity
53Insertion of Part 4A Division 6
Division 6—Abolition of duty on
designated real property transfers
105AAbolition of
duty on designated real property transfers
Part 13—Amendment of Supreme Court
Act 1935
54Amendment of section 130—Court
fees
Part 14—Amendment
of Taxation Administration Act 1996
55Amendment of section 93—Appeal
prohibited unless tax is paid
Part 15—Amendment of Water Industry
Act 2012
58Amendment of section
115—Regulations
Part 16—Repeal of
Hindmarsh Island Bridge Act 1999
60Repeal of Hindmarsh Island Bridge
Act 1999
The Parliament of South Australia enacts as
follows:
This Act may be cited as the Statutes Amendment and Repeal (Budget 2015)
Act 2015.
(1) Subject to this section, this Act will come into operation on the day
on which it is assented to by the Governor.
(2)
Part 2
will come into operation on a day to be fixed by proclamation.
(3)
Part 3
will be taken to have come into operation at midnight on
30 June 2015.
(4)
Part 4
will be taken to have come into operation on
1 July 2015.
(5)
Part 6
will be taken to have come into operation on
1 July 2015.
(6)
Part 7
will be taken to have come into operation on 1 July 2011
immediately after the
Statutes
Amendment (Land Holding Entities and Tax Avoidance Schemes)
Act 2011
is taken to have come into operation.
(7)
Part 8
and
Part 9
will be taken to have come into operation on
18 June 2015.
(8)
Part 11
will come into operation on 1 July 2016.
(9)
Part 12
will come into operation on 1 July 2018.
(10)
Sections 56
and
59(1)
and
(2)
will be taken to have come into operation on
1 July 2015.
(11)
Sections 57
and
59(3)
will come into operation on 1 July 2016.
(12)
Section 58
will come into operation on a day to be fixed by proclamation.
(13)
Part 16
will be taken to have come into operation on
1 July 2015.
(14) Section 7(5) of the
Acts
Interpretation Act 1915
does not apply to this Act.
In this Act, a provision under a heading referring to the amendment of a
specified Act amends the Act so specified.
Part 2—Amendment
of Gaming Machines
Act 1992
Section 28A—delete the section
Section 38A—delete the section
Part 3—Amendment
of Land Tax
Act 1936
6—Amendment
of section 5—Exemption or partial exemption of certain land from land
tax
(1) Section 5(10)—after paragraph (g) insert:
(h) land may be wholly exempted from land tax if—
(i) the land is owned by the trustee of a special disability trust;
and
(ii) the Commissioner is satisfied that the land constitutes the principal
place of residence of the principal beneficiary of the special disability
trust.
(2) Section 5—after subsection (12) insert:
(12a) The Commissioner may, on application under this subsection,
grant—
(a) a waiver or refund of land tax paid or payable by or on behalf of a
trustee of a special disability trust on land for a particular financial year;
or
(b) a refund of an amount paid by or on behalf of a trustee of a special
disability trust as a transferee of land to the transferor of land as an
adjustment of land tax paid or payable on the land for the financial year in
which settlement takes place,
if the following criteria are satisfied:
(c) the land was acquired by the trustee during the course of the
financial year;
(d) the Commissioner is satisfied that the land constitutes or will
constitute the principal place of residence of the principal beneficiary of the
special disability trust during the course of the financial year;
(e) the application is made not more than 5 years after the
assessment of the liability to the tax to which the application
relates.
(3) Section 5(13)—after the definition of domestic
partner insert:
principal beneficiary—
(a) has the meaning given in section 1209M(1) of the Social Security
Act, in the case of a special disability trust within the meaning of
section 1209L of that Act; or
(b) has the meaning given in section 52ZZZWA(1) of the Veterans'
Entitlements Act, in the case of a special disability trust within the meaning
of section 52ZZZW of that Act;
(4) Section 5(13)—after the definition of retired persons'
relocatable home park insert:
Social Security Act means the Social Security Act 1991
of the Commonwealth;
special disability trust means—
(a) a special disability trust within the meaning of section 1209L of
the Social Security Act; or
(b) a special disability trust within the meaning of section 52ZZZW
of the Veterans' Entitlements Act;
(5) Section 5(13)—after the definition of spouse
insert:
Veterans' Entitlements Act means the Veterans'
Entitlements Act 1986 of the Commonwealth.
7—Amendment
of section 5A—Waiver or refund of land tax for residential land in certain
cases
(1) Section 5A(1)—delete "if the following criteria are
satisfied:" and paragraphs (c) to (g) (inclusive) and
substitute:
if—
(c) the following criteria are satisfied:
(i) the land became the applicant's principal place of residence during
the course of the financial year;
(ii) proper grounds for exempting the land from land tax under
section 5 came into existence when the land became the applicant's
principal place of residence;
(iii) the applicant must have divested himself or herself, before the end
of the financial year, of any other land in respect of which the applicant has
had the benefit of a relevant concession for the financial year;
(iv) unless the Commissioner allows otherwise in a particular case, no
rent or other consideration has been paid or is payable for occupation, during
the financial year, of the land or any other land in respect of which the
applicant has had the benefit of a relevant concession for the financial year,
while the applicant owned both the land and other such land;
(v) the criteria for the time being determined by regulation; or
(d) in the case of a waiver or refund under paragraph (a), the
following criteria are satisfied:
(i) the land ceased to be the applicant's principal place of residence
during the course of the previous financial year;
(ii) proper grounds for exempting the land from land tax under
section 5 existed immediately before the land ceased to be the applicant's
principal place of residence;
(iii) the applicant must have divested himself or herself of the land
before the end of the financial year;
(iv) unless the Commissioner allows otherwise in a particular case, no
rent or other consideration has been paid or is payable for occupation, during
the financial year or the previous financial year, of the land or any other land
in respect of which the applicant has had the benefit of a relevant concession
for the financial year or the previous financial year, while the applicant owned
both the land and other such land;
(v) the criteria for the time being determined by regulation.
(2) Section 5A(4)(c)—delete paragraph (c) and
substitute:
(c) in the case of an application for a refund—must be made not more
than 5 years after the assessment of the liability to the tax.
8—Amendment
of section 13A—Commissioner may determine that minor interest is to be
disregarded
(1) Section 13A(1), definition of prescribed
land—delete the definition and substitute:
prescribed land means land where—
(a) 2 or more persons are the owners of the land; or
(b) the land is held on trust (other than a trust arising because of a
contract to purchase or acquire an estate or interest in the land);
(2) Section 13A—after subsection (3) insert:
(3a) If the Commissioner forms the opinion for the purposes of
subsection (3) that the purpose, or 1 of the purposes, for the
creation of an interest was to reduce the amount of land tax payable in respect
of land—
(a) subsection (5) will be taken to have applied in relation to the
interest from the date on which the interest was created; and
(b) if—
(i) the land was wholly or partially exempted from land tax for a
particular financial year; and
(ii) the Commissioner is satisfied, on the basis of having formed the
opinion, that there were not, in respect of that financial year, proper grounds
for exempting the land from land tax,
the Commissioner may withdraw the exemption in respect of that financial
year.
(3) Section 13A(4)(a)—after "pieces of land" insert:
and, if relevant, the relationship between a trustee and a beneficiary or
beneficiaries or between 2 or more trustees or 2 or more
beneficiaries
(4) Section 13A(5)(a) and (b)—delete paragraphs (a)
and (b) and substitute:
(a) the person holding the prescribed interest is taken not to
be—
(i) an owner of land for the purposes of this Act to the extent of the
prescribed interest; or
(ii) in a case in which subsection (9)(a)(ii) applies in relation to
a beneficiary, a beneficiary under a relevant trust for the purposes of this
Act; and
(b) the land tax payable in respect of the land is to be assessed, and is
payable—
(i) as if the land were wholly owned by the owner or owners of the land
who do not hold the prescribed interest (or, if relevant, any such prescribed
interest); and
(ii) in a case in which subsection (9)(a)(ii) applies in relation to
a beneficiary, as if the interest of the beneficiary did not exist.
(5) Section 13A(9)(a)—delete paragraph (a) and
substitute:
(a) a reference to an interest in land is a reference—
(i) to an estate, interest or other circumstance that makes a person an
owner of land under this Act (but does not include an interest consisting only
of a right of occupation); or
(ii) to an interest that a person has in land that arises by virtue of a
trust, either as trustee or beneficiary, other than—
(A) a trust arising because of a contract to purchase or acquire an estate
or interest in the land; or
(B) an interest arising in any other circumstances prescribed by the
regulations; and
9—Amendment
of section 19—Time for payment of tax
Section 19—after its present contents (now to be designated as
subsection (1)) insert:
(a) a person who otherwise would have been served with an assessment for
the payment of land tax has not been served with such an assessment on account
of—
(i) gaining an exemption (or partial exemption) from land tax that should
not have applied under this Act (including by an exemption continuing after it
should have come to an end); or
(ii) receiving a waiver or refund that should not have been given;
and
(b) the failure to serve the assessment is attributable (wholly or in
part) to—
(i) false, misleading or incomplete information that has been provided to
the Commissioner; or
(ii) information that should have been provided to the Commissioner not
being so provided,
then the provision, or non-provision, of that information (as the case may
be) will be taken to constitute a tax default by the person for the purposes of
the
Taxation
Administration Act 1996
.
(3) In connection with the operation of
subsection (2)
—
(a) the tax default
will be taken to have occurred on the day on which the exemption applied from,
or the waiver or refund was given (as the case may be); and
(b) an assessment under subsection (1) may specify any interest
accrued or penalty tax payable under the
Taxation
Administration Act 1996
in respect of a preceding financial year, including where an assessment of
land tax has not been previously served with respect to that financial year, or
where an assessment served with respect to that financial year did not identify
the tax default; and
(c) a liability to pay interest under the
Taxation
Administration Act 1996
will accrue from the day applying under
paragraph (a)
(and not a day determined under section 25(1) of that Act).
(1) In this section—
principal Act means the
Land
Tax Act 1936
.
(2) Paragraph (c) of section 5A(4) of the principal Act as inserted by
section 7
of this Act applies in relation to an application under section 5A
for a refund of land tax or an amount representing land tax if the liability to
the tax was assessed for the 2014/2015 financial year or a subsequent
financial year (and paragraph (c) of section 5A(4) of the principal
Act as in force immediately before the commencement of
section 7
of this Act continues to apply in relation to an application under
section 5A for a refund of land tax or an amount representing land tax if
the liability to the tax was assessed for an earlier financial year).
(3) An interest may be or become subject to the operation of
section 13A of the principal Act, as amended by this Part, in respect of a
financial year commencing after the commencement of this Part no matter when the
interest was created, including in a case where the interest was created before
the commencement of this Part.
Part 4—Amendment
of Local Government
Act 1999
11—Amendment
of section 294—Power to enter and occupy land in connection with an
activity
(1) Section 294(7)—delete subsection (7) and
substitute:
(7) A council does not
require a mining tenement or other authorisation under the
Mining
Act 1971
with respect to the exercise of powers under this section but, to the
extent to which a council recovers extractive minerals under this
section—
(a) the council will be required to pay royalty on the extractive minerals
at the rate set out in section 17(4)(a) of the
Mining
Act 1971
and as if this requirement to pay such royalty were a requirement imposed
under that Act (and on the basis that this requirement will apply even if the
extractive minerals are not to be sold or used by the council as envisaged by
section 17(1) of the
Mining
Act 1971
); and
(b) the provisions
of the
Mining
Act 1971
designated by
subsection (7a)
will apply to and in relation to the council as if, in recovering the
extractive minerals, the council is—
(i) carrying out operations under that Act (and required to comply with
the provisions of that Act); and
(ii) the holder of a mining tenement under that Act for the recovery of
extractive minerals.
(7a) The following
provisions of the
Mining
Act 1971
are designated for the purposes of
subsection (7)(b)
:
(a) sections 14B to 14F (inclusive);
(b) section 17(10), (11) and (12);
(c) sections 17B to 17D (inclusive);
(d) section 17E;
(e) sections 17G and 18;
(f) sections 76 to 77D (inclusive);
(g) section 89A;
(h) section 91;
(i) section 92.
(7b) In connection with
subsections (7)
and
(7a)
—
(a) to the extent that there is an inconsistency between section 7(2)
of the
Mining
Act 1971
and
subsections (7)
and
(7a)
of this section, those subsections will apply to the extent of the
inconsistency (so as to allow the
Mining
Act 1971
to regulate the operations of a council to the extent envisaged by those
subsections); and
(b) royalty received or recovered under this section will not be payable
into the Extractive Areas Rehabilitation Fund.
(2) Section 294(8)—before the definition of minerals
insert:
extractive minerals means extractive minerals as defined by
the
Mining
Act 1971
;
Part 5—Amendment
of Motor Vehicles
Act 1959
12—Amendment
of section 38B—Registration fees for certain incapacitated persons or
carers
Section 38B(1)—delete subsection (1) and
substitute:
(1) If the Registrar is satisfied by such evidence as the Registrar
requires—
(a) that—
(i) the owner of a motor vehicle, in consequence of the loss of the use of
1 or both legs, is permanently unable to use public transport;
and
(ii) the motor vehicle will, during the period for which it is sought to
be registered, be wholly or mainly used for the transport of the owner;
or
(b) that—
(i) the owner of a motor vehicle is the parent or legal guardian of a
child who, in consequence of the loss by the child of the use of 1 or both
of his or her legs, is permanently unable to use public transport; and
(ii) the motor vehicle will, during the period for which it is sought to
be registered, be wholly or mainly used for transporting the child,
the prescribed registration fee for that motor vehicle must be reduced by
the prescribed amount.
Part 6—Amendment
of Rates and Land Tax Remission
Act 1986
Long title—delete "rates and land tax payable by certain persons" and
substitute:
certain rates payable by certain persons; for the payment of an amount to
certain persons as a concession to assist with cost of living
pressures
14—Amendment
of section 1—Short title
Section 1—delete "
Rates
and Land Tax Remission
" and substitute:
Cost of Living Concessions
Section 3—delete the section and substitute:
2—Interpretation
(1) In this Act, unless the contrary intention appears—
approved aged persons housing scheme means a scheme,
administered by an organisation or body approved by the
Minister—
(a) under which
houses or residential units in a residential complex are made available for
occupation predominantly by persons of or over a fixed qualifying age of at
least 50 years; and
(b) under which the occupiers of houses or residential units in the scheme
are entitled to continue in occupation of those houses or residential units for
life, subject only to conditions providing or allowing for termination of that
entitlement approved by the Minister;
eligible person—see
section 3(1)
;
rates means rates payable under the Acts set out in Schedule
1 and includes—
(a) any rates or charges payable under the
Local
Government Act 1999
for the provision or treatment of water or the removal of sewage;
and
(b) charges payable to an irrigation authority under Part 7 of the
Irrigation
Act 1994
; and
(c) charges payable to a water industry entity under Part 4 of the
Water
Industry Act 2012
;
rating authority means the authority to whom rates are
payable under the Acts set out in Schedule 4;
residential premises means premises occupied solely or
primarily for residential purposes;
residential tenancy agreement has the same meaning as in the
Residential
Tenancies Act 1995
.
(2) For the
purposes of this Act, a person occupies residential premises as an
owner if the person occupies the premises—
(a) as his or her principal place of residence; and
(b) as—
(i) a sole or joint
proprietor of an estate in freehold in possession; or
(ii) a sole or joint proprietor of a Crown lease or Crown under lease;
or
(iii) a purchaser of an estate in fee simple under an agreement for sale
and purchase where the purchase price is payable in more than
2 instalments; or
(iv) the occupier under an agreement to occupy provided
that—
(A) no rent is payable; and
(B) the tenure is for the life of the occupier and not subject to earlier
determination except by the occupier; and
(C) the occupier is liable for all rates and taxes; or
(v) —
(A) joint proprietor with other persons who own; or
(B) a shareholder in a body corporate that owns,
a block of home units or other group residential premises (the person to be
regarded for the purposes of this subparagraph as being the sole or joint
proprietor of the home unit or residential premises he or she occupies);
or
(vi) a lessee or licensee of land other than Crown land under a lease or
licence that extends for 5 or more years and under which the premises occupied
by the person on that land remains the property of that person; or
(vii) the occupier
of a house or residential unit in an approved aged persons housing scheme;
or
(viii) a beneficiary under an estate entitling the person to occupy the
premises in 1 of the capacities referred to in
subparagraphs
(i)
to
(vii)
; or
(ix) a person of a class prescribed by the regulations.
(3) For the
purposes of this Act, a person occupies residential premises as a
tenant if the person occupies the premises—
(a) as his or her principal place of residence; and
(b) as—
(i) a tenant specified in a residential tenancy agreement relating to the
premises; or
(ii) a person of a class prescribed by the regulations.
3—Entitlement to payment of
concession
(1) A person is an
eligible person for a financial year if, on 1 July of that
financial year, the person—
(a) occupied residential premises as an owner or tenant of the premises;
and
(b) was of a class prescribed by the regulations for the purposes of this
subsection.
(2) A person who—
(a) is an eligible person for a financial year; and
(b) satisfies the eligibility requirements prescribed by the
regulations,
is entitled to payment by the Minister of an amount determined in
accordance with the regulations in respect of that financial year.
16—Amendment
of section 4—Remission of rates
Section 4(2)—delete subsection (2)
17—Amendment
of section 7—No interest etc payable
Section 7—after its present contents (now to be designated as
subsection (1)) insert:
(2) No interest is payable by the Minister in respect of an amount to
which a person is entitled under this Act.
18—Amendment
of section 8—Offences etc
(1) Section 8(1)—delete "for the remission of rates"
(2) Section 8(2), penalty provision—delete the penalty provision and
substitute:
Maximum penalty: $2 500.
(3) Section 8(3)—delete subsection (3) and substitute:
(3) A person who has received a payment under this Act that the person is
not entitled to receive must—
(a) inform the Minister, in writing, of that fact; and
(b) refund the amount of the payment to the Minister in accordance with
any directions of the Minister.
Maximum penalty: $2 500.
(4) If a person has received a payment under this Act that the person is
not entitled to receive, the amount of the payment is recoverable as a debt due
to the Minister.
After section 8 insert:
9—Regulations
(1) The Governor
may make such regulations as are contemplated by this Act, or as are necessary
or desirable for the purposes of this Act.
(2) A regulation under this Act may be of general, limited or varied
application according to—
(a) the classes of person; or
(b) the circumstances; or
(c) any other specified factor,
to which the regulation is expressed to apply.
(3) A regulation under this Act may—
(a) provide that a matter or thing in respect of which regulations may be
made is to be determined according to the discretion of the Minister or some
other person; and
(b) be brought into operation on a date specified in the regulations that
is earlier than the date of its publication in the Gazette.
Part 7—Amendment
of Stamp Duties Act 1923 that is taken
to have effect on 1 July 2011
20—Amendment
of section 91—Interpretation
Section 91(1), definition of private unit trust
scheme—after "widely held trust" insert:
, but does not include a unit trust scheme that is an approved deposit fund
or a pooled superannuation trust within the meaning of the Superannuation
Industry (Supervision) Act 1993 of the Commonwealth
Part 8—Amendment
of Stamp Duties Act 1923 that is taken
to have effect on 18 June 2015 (Corporate
reconstructions)
21—Amendment
of section 102—Value of notional interest acquired as a result of dutiable
transaction
Section 102(2)—delete subsection (2)
22—Amendment
of section 102B—Acquisition statement
Section 102B(1)—after "the dutiable transaction" insert:
, or, if the transaction was an exempted transaction under Part 4AA
but the exemption has been revoked by the Commissioner, within 2 months
after receiving notification of the revocation
23—Amendment
of section 102G—Multiple incidences of duty
Section 102G(3) and (4)—delete subsections (3)
and (4)
After Part 4 insert:
Part 4AA—Corporate group
exemptions
102H—Interpretation
(1) In this Part—
corporate group—see
section 102J
;
corporation has the same meaning as in section 9 of the
Corporations Act 2001 of the Commonwealth and includes a unit trust
scheme;
direct interest—see
section 102I
;
exempted transaction means a transaction that is exempted
from duty under
section 102L
;
exemption application means an application to the
Commissioner under
section 102M
;
hold—a person holds property (including a security of a
corporation) if the person—
(a) is registered as the holder; or
(b) is beneficially entitled to the property; or
(c) controls the exercise of rights attached to the property;
indirect interest—see
section 102I
;
ineligible trust means a discretionary trust that is not a
unit trust;
security, of a corporation, includes—
(a) an issued share of the corporation; and
(b) if the corporation is a unit trust scheme—a unit issued under
the scheme.
(2) For the
purposes of this Part—
(a) a reference to anything done by or held by a unit trust scheme is to
be taken to refer to the thing being done by or held by a trustee or custodian
of the unit trust scheme as trustee or custodian of that unit trust scheme;
and
(b) a corporation that is a unit trust scheme is taken to be a party to a
transaction if the trustee or custodian of the unit trust scheme enters into the
transaction as trustee or custodian of the scheme; and
(c) subject to
subsection (3)
, a corporation that is a partner in a partnership is to be regarded as
beneficially entitled to a proportionate share in each and every asset of the
partnership; and
(d) a transfer of the registration of a motor vehicle will be taken to be
a conveyance of the vehicle from the transferor to the transferee.
does not apply in relation to a corporation in a particular case if the
Commissioner considers, having regard to the circumstances of the corporation
and any relevant corporate group of which the corporation is a member, that the
provision would operate unfairly in that case.
102I—Direct and indirect
interests
(1) If a corporation (A) holds securities of another
corporation (B), A has a direct interest
in B.
(2) The direct interest that A has in B is to be expressed as a
proportionate interest calculated by determining the percentage of B's
total securities held by A.
Example—
Corporation A holds 75% of corporation B's securities. In this case
the proportionate interest of corporation A in corporation B
is 75%.
(3) Two corporations are related corporations
if—
(a) 1 has a direct interest in the other; or
(b) a series of such relationships can be traced between them through
another or other related corporations.
(4) If a corporation (A) has a direct interest in a corporation (B)
which is related to another corporation (C), A has an
indirect interest in C.
(5) The indirect interest that a corporation has in another corporation is
to be expressed as a proportionate interest calculated by multiplying
together—
(a) a percentage representing the proportionate interest of A
in B; and
(b) a percentage representing B's proportionate interest
in C,
and expressing the result as a percentage.
Example—
Corporation X holds a proportionate interest of 33⅓% in
corporation A which in turn holds a 75% proportionate interest in
corporation B which in turn holds a 50% proportionate interest in
corporation C. In this case corporation X's indirect interest in
corporation C is to be expressed as a proportionate interest
of 12.5%.
102J—Parent corporations and corporate
groups
(a) a direct or indirect interest in another corporation (B) that is
a proportionate interest of 90% or more; or
(b) a direct and indirect interest in another corporation (B) that,
in combination, constitutes a proportionate interest of 90% or
more,
then, subject to
subsection (2)
—
(c) A is the parent corporation of B; and
(d) B is a subsidiary of A.
(2) If, under
subsection (1)
, corporation A is not entitled (whether directly or indirectly) to
cast, or control the casting of, 90% or more of the maximum number of
votes at a general meeting of corporation B, B is not a subsidiary
of A.
(3) A corporate group is comprised of—
(a) a parent corporation; and
(b) the subsidiaries of the parent corporation.
102K—Transactions to which this Part
applies
This Part applies to—
(a) a transaction involving a conveyance of property, or an agreement to
convey property, from a member of a corporate group to another member, or
to other members, of the corporate group; and
(b) a transaction whereby, under Part 4, a member of a corporate
group notionally acquires from another member of the same corporate group an
interest in the underlying local land assets of a land holding entity,
if—
(c) the corporate group's interest in the property the subject of the
transaction is not diminished as a result of the transaction; and
(d) the purpose, or 1 of the purposes, of the transaction
is—
(i) to change the structure of the corporate group; or
(ii) to change the holding of assets within the corporate group;
and
(e) the transaction does not result in property of the corporate group
being held by a member of the corporate group as trustee of an ineligible trust;
and
(f) the transaction is not part of a tax avoidance scheme within the
meaning of Part 6A of the
Taxation
Administration Act 1996
.
102L—Exemption from duty
(1) If the
Commissioner is satisfied that this Part applies to a transaction, the
Commissioner must exempt the transaction from duty.
(2) If the Commissioner exempts a transaction from duty under
subsection (1)
, the Commissioner must assess the transaction, and any instrument that
gives effect to, acknowledges, evidences or records the transaction, as exempt
from duty.
102M—Application for exemption
(1) A member of a corporate group may apply to the Commissioner, in a
manner and form determined by the Commissioner, for an exemption under
section 102L
at any time before, or within 1 year after, the completion of
the transaction to which the application relates.
(2) An application for an exemption under
section 102L
in relation to a proposed transaction must be accompanied by draft copies
of all instruments that it is intended will give effect to, or acknowledge,
evidence or record, the transaction.
(3) The Commissioner may require a member of the corporate group applying
for an exemption for a transaction under
section 102L
to provide such additional information or evidence as the Commissioner may
require for the purpose of determining whether the transaction, or any
instrument connected to the transaction, is exempt from duty under this
Part.
(4) The Commissioner may require the information or evidence to be given
on oath or verified by statutory declaration.
(5) If the Commissioner determines to exempt from duty a transaction, or a
proposed transaction, in relation to which an application has been made under
this section, the Commissioner must advise the applicant in writing that the
transaction, and any instruments giving effect to, or acknowledging, evidencing
or recording, the transaction, are exempt from duty.
102N—Conditions of exemption
An exemption granted under
section 102L
in relation to a proposed transaction is subject to a condition that the
applicant will, within 2 months after the transaction occurs, advise the
Commissioner in writing if—
(a) the actual transaction, or any circumstances relating to it, differs
materially from the proposed transaction, or any circumstances of the proposed
transaction, as specified in the exemption application; or
(b) any information relevant to the transaction, or to any circumstances
relating to it, differs materially from the information specified in the
exemption application.
102O—Revocation of exemption
The Commissioner may revoke an exemption granted under
section 102L
if—
(a) the Commissioner ceases to be satisfied that this Part applies to the
exempted transaction; or
(b) a party to the exempted transaction fails to comply with a condition
under
section 102N
; or
(c) the Commissioner becomes aware that—
(i) any draft copies of instruments accompanying the application for the
exemption differ in a material particular from the corresponding instruments
submitted for assessment by the Commissioner; or
(ii) the applicant for the exemption provided false or misleading
information, or failed to provide relevant information, in support of the
application.
102P—Duty payable if transaction ceases to be
exempt
If the Commissioner determines to revoke an exemption granted under
section 102L
in relation to a transaction, the following provisions apply:
(a) the
Commissioner must give written notice of the determination to the parties to the
transaction or to the parent corporation of the corporate group to which the
parties belong;
(b) if the exemption is revoked after the transaction takes
place—
(i) duty is payable
in relation to the transaction from the date of the transaction; and
(ii) the liability of the parties to pay duty is to be assessed in
relation to the circumstances applying at the date of the transaction as if the
transaction had not been an exempted transaction; and
(iii) the duty chargeable on an instrument is to be calculated according
to the rates in force as at the date of the instrument; and
(iv) for the purposes of section 20, the duty is to be regarded as
having become chargeable on any relevant instrument in consequence of the
Commissioner's determination to revoke the exemption; and
(v) the parties to the transaction may, at the discretion of the
Commissioner, be liable to pay interest and penalty tax as if the failure to pay
duty at the date of the transaction were a tax default under the
Taxation
Administration Act 1996
; and
(vi) the members of the corporate group to which the parties to the
transaction belong are jointly and severally liable for payment of the
duty.
Part 9—Amendment
of Stamp Duties Act 1923 that is taken
to have effect on 18 June 2015 (General tax
reforms)
25—Amendment
of section 2—Interpretation
Section 2—after subsection (3) insert:
(4) For the
purposes of the application of this Act to and in relation to land (whether
referred to as land, real property (or property when it is constituted by land)
or a land asset under this Act), the following will be taken to be within the
concept of land:
(a) an estate or
interest in land (including land covered by water);
(b) without
limiting
paragraph (a)
, a right in relation to land brought within the ambit of this paragraph by
subsection (5)
;
(c) without
limiting
paragraph (a)
or
(b)
, any of the following or an estate or interest in any of the
following:
(ii) without limiting
subparagraph (i)
, a pipeline constructed under the authority of a pipeline licence under
the
Petroleum
and Geothermal Energy Act 2000
;
(iii) an interest conferred by a forestry property (vegetation) agreement
(within the meaning of the
Forest
Property Act 2000
).
(5) For the
purposes of
paragraph (b)
, the following are brought within the ambit of that paragraph by this
subsection:
(a) an option to acquire land;
(b) subject to section 31, a right to acquire an estate or interest in
land;
(c) any other right or interest prescribed by the regulations.
(6)
Subsections (4)
and
(5)
do not extend to—
(a) a carbon right under the
Forest
Property Act 2000
; or
(b) any other interest excluded from the application of either subsection
by the regulations.
(7) For the
purposes of this Act (other than Part 4), land will be taken to include
anything fixed to land, including anything—
(a) separately owned from the land; or
(b) fixed to the land but notionally severed or considered to be legally
separate to the land by virtue of or as a result of another Act or law (so that
a separation by another Act for the purposes of that Act will not affect the
operation of this paragraph for the purposes of the imposition and calculation
of duty).
(8) In connection
with the operation of
subsection (7)
—
(a) the subsection applies to all items fixed to the land whether or not
they constitute fixtures at law; and
(b) all fixtures at law will be taken to be within the application of the
subsection.
(9) However, if an
item is separately owned from land or notionally severed or considered to be
legally separate to land—
(a) the item will not be taken to form part of a conveyance of the land
unless the item is also conveyed; and
(b) if the item
remains fixed to the land (in the manner contemplated by the preceding
subsections)—a conveyance of the item without a conveyance of the land is
subject to duty as if it were a conveyance of land.
(10)
Subsection (9)(b)
does not extend to a transportable home.
(11) In this section—
Mining Act means—
(a) the
Mining
Act 1971
; or
(b) the
Offshore
Minerals Act 2000
; or
(c) the
Opal
Mining Act 1995
; or
(d) the
Petroleum
and Geothermal Energy Act 2000
;
mining tenement means a lease or licence
granted—
(a) under a Mining Act; or
(b) under or on account of any other Act that confers, or that ratifies an
indenture or other arrangement that confers, a right to explore for, or to
recover, any minerals, resources or other materials or substances that would,
but for that other Act, be subject to the operation of a Mining Act;
transportable home means a structure that—
(a) has the character of a dwelling; and
(b) is designed—
(i) to be fixed to the land when being used as a dwelling; but
(ii) to be able to be moved in a state that would allow the structure to
be reused as a dwelling at another place,
but does not include, in any event, a caravan, campervan or other item that
is capable of being registered under the
Motor
Vehicles Act 1959
.
26—Amendment
of section 14—Instruments to be separately charged
(1) Section 14(b)—delete paragraph (b)
(2) Section 14—after its present contents as amended by this
section (now to be designated as subsection (1)) insert:
(2) Without
limiting the effect of subsection (1), an instrument relating to types of
property that are chargeable with different rates of duty, or relating to a type
of property chargeable with duty and a type of property not chargeable with
duty, is to be treated for the purposes of this Act as if the provisions of the
instrument relating to each of the different types of property were a separate
instrument and related only to that type of property.
(3) A person liable to pay duty on an instrument of a kind referred to in
subsection (2)
must provide the Commissioner with evidence of the value of each of the
different types of property conveyed or transferred by the instrument.
27—Amendment
of section 31—Certain contracts to be chargeable as conveyances on
sale
(1) Section 31(1)—after paragraph (a) insert:
(b) stock, implements and other chattels if the contract or agreement
provides for the sale as a going concern of land used wholly or mainly for the
business of primary production together with such stock, implements and other
chattels held or used in connection with the business; or
(2) Section 31(2)—delete subsection (2) and
substitute:
(1a) For the purpose of calculating ad valorem duty payable on a
contract or agreement under subsection (1), the value of the estate or
interest contracted or agreed to be sold is to be determined on the basis that
the consideration specified as being payable for the estate or interest
represents the value of the estate or interest.
(1b) However, if it
appears to the Commissioner that the consideration specified as being payable
for the estate or interest may be less than the value of the estate or interest
and—
(a) no evidence of the value of the estate or interest is furnished to the
Commissioner; or
(b) evidence of the value of the estate or interest furnished to the
Commissioner is, in the Commissioner's opinion, unsatisfactory,
the Commissioner may cause a valuation of the estate or interest to be made
by a person appointed by the Commissioner and may assess the duty payable by
reference to the valuation.
(1c) The Commissioner may, having regard to the merits of the case, charge
the whole or a part of the expenses of, or incidental to, the making of a
valuation under
subsection (1b)
to the person liable to pay the duty and may recover the amount so charged
from the person as a debt due to the Crown.
(2) If duty has been duly paid on a contract or agreement in accordance
with subsection (1), the following provisions apply:
(a) any conveyance
made to the purchaser under the contract or agreement is chargeable with duty
only if the value of the estate or interest on the date of the conveyance is
greater than the consideration specified in the contract or agreement;
(b) if the conveyance is chargeable with duty under
paragraph (a)
, the amount of duty paid on the contract or agreement is to be deducted
from the duty payable on the conveyance;
(c) if the conveyance is not chargeable with duty under
paragraph (a)
, the Commissioner, on application and on the production of the contract or
agreement duly stamped, must stamp the conveyance with a particular stamp
denoting that it is duly stamped.
Section 31A—delete the section
29—Amendment
of section 60A—Value of property conveyed or
transferred
Section 60A—after subsection (8) insert:
(9) In addition to the preceding subsections, when determining the value
of property—
(a) it is to be assumed that a hypothetical purchaser would, when
negotiating the price for the property, have knowledge of all existing
information relating to the property; and
(b) no account is to be taken of any amount that a hypothetical purchaser
would have to expend to reproduce, or otherwise acquire a permanent right of
access to and use of, existing information relating to the property.
Section 62—delete the section and substitute:
62—Land use entitlements
(1) This section applies to—
(a) a transaction under which a person acquires a share in a company or an
interest under a trust that confers a right to the possession of a dwelling that
is owned and administered by the company or the trustees of the trust;
or
(b) a transaction under which a person acquires a right to the possession
of land as a result of becoming or being the owner of a share in a company or an
interest under a trust.
(2) This section does not apply to—
(a) a transaction under which a person acquires a share in a company or an
interest under a trust that confers a right to the possession of a dwelling that
is part of a retirement village scheme under the
Retirement
Villages Act 1987
; or
(b) a transaction exempted by the regulations from this section.
(3) An instrument that gives effect to, or acknowledges, evidences or
records, a transaction to which this section applies is dutiable under this Act
as if—
(a) it were a conveyance of an interest in the dwelling or land;
and
(b) the value of the interest in the dwelling or land
were—
(i) if the person acquires a right to exclusive possession of the dwelling
or land—the value of an unencumbered estate in fee simple in the dwelling
or land; or
(ii) in any other case—a proportion of the value of an unencumbered
estate in fee simple in the dwelling or land reflecting the more limited extent
of the possessory right.
(4) If a lease is conveyed, assigned or transferred as part of a
transaction to which this section applies, duty payable under this section on
account of the transaction will be reduced to the extent that duty is paid on
the conveyance, assignment or transfer of the lease.
31—Amendment
of section 67—Computation of duty where instruments are
interrelated
(1) Section 67(2)(b)—delete
"section 31A" and substitute:
section 31(1)(b)
(2) Section 67—after subsection (4) insert:
(5) If 2 or more instruments to which this section applies together form
or arise from substantially 1 series of transactions, the instruments are
to be taken for the purposes of the calculation of duty to form or arise from a
single transaction made when the earlier or earliest of the transactions was
made.
Section 71B—delete the section
After section 71C insert:
71CAA—Special disability
trusts
(1) In this section—
immediate family member of a principal beneficiary, means a
person—
(a) who is a natural parent, adoptive parent or step-parent of the
principal beneficiary; or
(b) who is, or was when the principal beneficiary was under 18 years
of age, a legal guardian of the principal beneficiary; or
(c) who is a grandparent or step-grandparent of the principal beneficiary;
or
(d) who is a sibling or step-sibling of the principal
beneficiary;
principal beneficiary—
(a) has the meaning given in section 1209M(1) of the Social Security
Act, in the case of a special disability trust within the meaning of
section 1209L of that Act; or
(b) has the meaning given in section 52ZZZWA(1) of the Veterans'
Entitlements Act, in the case of a special disability trust within the meaning
of section 52ZZZW of that Act;
Social Security Act means the Social Security
Act 1991 of the Commonwealth;
special disability trust means—
(a) a special disability trust within the meaning of section 1209L of
the Social Security Act; or
(b) a special disability trust within the meaning of section 52ZZZW
of the Veterans' Entitlements Act;
Veterans' Entitlements Act means the Veterans'
Entitlements Act 1986 of the Commonwealth.
(2) The following
instruments are exempt from stamp duty in the circumstances set out in
subsections (3)
to
(6)
(inclusive):
(a) a declaration
of trust that establishes a special disability trust;
(b) a transfer of
an interest in land to the trustee of a special disability trust.
(3) The person
declaring the trust, or the transferor of the interest in the land (as the case
may be), must be an immediate family member of the principal beneficiary of the
special disability trust.
(4) In the case of
a declaration of trust under
subsection (2)(a)
, the trust must hold land that constitutes the principal place of
residence of the principal beneficiary of the special disability trust, or must
hold land that will so constitute the principal place of residence of the
principal beneficiary of the special disability trust within 12 months of
the declaration of trust.
(5) In the case of a transfer of an interest in land under
subsection (2)(b)
, land in respect of which an interest is being transferred to the trustee
of the special disability trust must constitute the principal place of residence
of the principal beneficiary of the special disability trust, or the relevant
land must so constitute the principal place of residence of the principal
beneficiary of the special disability trust within 12 months of the
transfer.
(6) There must be
no consideration provided for the declaration or transfer.
34—Amendment
of section 71D—Concessional duty to encourage exploration
activity
(1) Section 71D(1)(a)—delete "an exploration tenement" wherever
occurring and substitute in each case:
a prescribed tenement
(2) Section 71D(3)(b)—delete paragraph (b) and
substitute:
(b) an exploration licence granted under the
Petroleum
and Geothermal Energy Act 2000
; or
(3) Section 71D(3)—after the definition of exploration
tenement insert:
prescribed tenement means—
(a) an exploration tenement; or
(b) a retention tenement;
retention tenement means—
(a) a retention lease under the
Mining
Act 1971
; or
(b) a retention licence under the
Petroleum
and Geothermal Energy Act 2000
; or
(c) a retention lease under the
Petroleum
(Submerged Lands) Act 1982
; or
(d) a retention licence under the
Offshore
Minerals Act 2000
.
(4) Section 71D(4)—delete "an exploration tenement" wherever
occurring and substitute in each case:
a prescribed tenement
35—Amendment
of section 71E—Transactions otherwise than by dutiable
instrument
(1) Section 71E(1)(a)(ii)—delete subparagraph (ii)
(2) Section 71E(1a)—delete subsection (1a)
36—Amendment
of section 91—Interpretation
(1) Section 91(1), definition of
goods (d)—delete "the business of" and
substitute:
land used for
(2) Section 91(1) definition of goods (f)—delete
paragraph (f) and substitute:
(f) a motor vehicle or trailer; or
(3) Section 91(1), definition of goods—after
paragraph (g) insert:
or
(h) without limiting a preceding paragraph, goods that do not have a
significant connection with an entity's underlying local land assets.
(4) Section 91(1), definition of interest in
land—delete the definition
37—Amendment
of section 92—Land assets
(1) Section 92(1)—delete "an interest in land" and
substitute:
land
(2) Section 92(2)—delete "consisting of an interest in" and
substitute:
constituted by
38—Insertion
of Part 4A Divisions 3, 4 and 5
Part 4A—after Division 2 insert:
Division 3—Abolition of duty on conveyance or
transfer of certain property
104A—Interpretation
In this Division—
dutiable land transaction means a transaction that results in
duty being payable on a conveyance or transfer of land or as if there were a
conveyance or transfer of land.
104B—Application of Division
(1) Subject to this
section, this Division applies to all property other than—
(a) land; or
(b) prescribed goods.
(2) In connection
with
subsection (1)
, this Division does not affect the operation of any other provision of
this Act that is relevant to the determination, calculation or imposition of
duty in relation to land or prescribed goods, or that is relevant to an
instrument, financial product, unit trust scheme, asset, right, entitlement,
interest, conveyance or transaction that relates (either directly or indirectly)
to land or any prescribed goods.
(3)
Subsection (2)
expires on 1 July 2018.
(4) In this section—
prescribed goods means goods the subject of an arrangement
that includes a dutiable land transaction and the term includes goods that have
a significant connection with the land, but does not include the
following:
(a) goods that are stock-in-trade;
(b) materials held for use in manufacture;
(c) goods under manufacture;
(d) goods held or used in connection with land used for primary
production;
(e) livestock;
(f) a motor vehicle or trailer;
(g) a ship or vessel.
(5) The Commissioner may, if the Commissioner considers it to be fair and
reasonable to do so, in the circumstances of a particular case, determine that
specified goods, or specified classes of goods, the subject of an arrangement
that includes a dutiable land transaction are to be taken not to be prescribed
goods for the purposes of this Division.
104C—Abolition of duty on conveyance or transfer of
certain property
(1) No liability to
duty arises in relation to a conveyance or transfer of property to which this
Division applies executed on or after 18 June 2015.
(2)
Subsection (1)
does not apply to a conveyance or transfer of property that arises from a
contract of sale or other transaction entered into before 18 June 2015
(and the duty chargeable in relation to such a conveyance or transfer will be
calculated according to the rates in force as at the date on which the contract
of sale or other transaction was entered into as if the conveyance or transfer
had been executed on that date).
104D—Relevant rates
Despite section 16, the duty chargeable in relation to a conveyance,
transfer of property or instrument to which this Division applies executed
before 18 June 2015 but produced to the Commissioner for the purposes
of being stamped on or after that date will be calculated according to the rates
in force as at the date on which the conveyance or transfer was
executed.
104E—Non-derogation provision
(1) Nothing in this Division affects the operation of Part 3
Division 4.
(2) Nothing in this Division affects the operation of
Part 4.
Division 4—Abolition of gaming machine
surcharge
104F—Abolition of gaming machine
surcharge
(1) No liability to
gaming machine surcharge (within the meaning of Part 3 Division 7)
arises in relation to a transaction to which Part 3 Division 7 applies
if the date of the transaction is 18 June 2015 or later.
(2)
Subsection (1)
does not apply to a transaction that arises from a contract of sale or
other transaction entered into before 18 June 2015.
(3) Despite section 71EI, the parties to a transaction to which
Part 3 Division 7 applies are not required to lodge a return with the
Commissioner under that section if no liability to gaming machine surcharge
arises in relation to the transaction by virtue of this section.
Division 5—Abolition of duty relating to financial
products
105—Abolition of duty relating to financial
products
(1) No liability to
duty arises in relation to a conveyance or instrument under Part 3A
executed on or after 18 June 2015.
(2)
Subsection
(1)
does not apply to a conveyance or instrument that arises from a contract
of sale or other transaction entered into before 18 June 2015 (and the
duty chargeable in relation to such a conveyance or instrument will be
calculated according to the rates in force as at the date on which the contract
of sale or other transaction was entered into as if the conveyance or instrument
had been executed on that date).
(3) Section 88 does not apply to a financial product if no liability
to duty arises in relation to the financial product by virtue of this
section.
(4) Despite section 16, the duty chargeable in relation to a
conveyance or instrument to which this section applies executed before
18 June 2015 but produced to the Commissioner for the purposes of
being stamped on or after that date will be calculated according to the rates in
force as at the date on which the conveyance or instrument was
executed.
After section 108 insert:
109—Anti-avoidance provision
(1) In this section—
prescribed date, in relation to a prescribed instrument,
means the date that duty would have been payable in the ordinary course of
events, as determined by the Commissioner, rather than on account of the scheme,
contract, agreement, arrangement or undertaking that has been entered into (in
the opinion of the Commissioner) in order, wholly or in part, to avoid or reduce
a liability to duty;
prescribed instrument or transaction means an instrument or
transaction that—
(a) has been entered into in connection with, or as part of; or
(b) has been made pursuant to or in relation to; or
(c) is in any other way connected with,
a scheme, contract, agreement, arrangement or undertaking entered into,
wholly or in part, to avoid or reduce a liability to duty on account
of—
(d) a change in the amount of duty payable on or after
1 July 2016 on account of the operation of section 71DC as to be
inserted (or as inserted) into this Act by the
Statutes
Amendment and Repeal (Budget 2015) Act 2015
; or
(e) the abolition of duty on qualifying land on or after
1 July 2018 on account of the operation of section 105A, as to be
inserted (or as inserted) into this Act by the
Statutes
Amendment and Repeal (Budget 2015) Act 2015
.
(2) If the
Commissioner forms the opinion that an instrument or transaction executed or
entered into on or after 18 June 2015 is a prescribed instrument or
transaction, the duty chargeable on the instrument or in relation to the
transaction will be calculated according to the rates in force on the prescribed
date.
(3) For the purposes of
subsection (2)
, the Commissioner may have regard to—
(a) the nature of any relationship between the parties to the instrument
or transaction; and
(b) any commercial or other arrangements existing between the parties to
the instrument or transaction before the instrument was entered into, made or
executed or the transaction was entered into; and
(c) any arrangements surrounding or relating to any land that is the
subject of the instrument or transaction before the instrument was entered into,
made or executed or the transaction was entered into; and
(d) any other matter the Commissioner considers relevant.
(4) This section—
(a) operates to the exclusion of section 16; and
(b) operates in addition to Part 6A of the
Taxation
Administration Act 1996
.
(5) In addition, if the Commissioner forms an opinion in relation to an
instrument or transaction under
subsection (2)
—
(a) a deliberate tax default will be taken to have occurred on the
prescribed date for the purposes of the
Taxation
Administration Act 1996
; but
(b) the Commissioner may not—
(i) remit any interest; or
(ii) remit any penalty tax,
payable under Part 5 of that Act.
The amendments made to sections 31 and 67(2)(b) of the
Stamp
Duties Act 1923
, and the repeal of section 31A of that Act, by this Part will be
taken to extend in their operation to and in relation to contracts, agreements
and instruments entered into or executed before 18 June 2015 as if the
Stamp
Duties Act 1923
, as amended by
section 27
,
28
and
31(1)
of this Act, was the Act in force immediately before the contract,
agreement or instrument was entered into or executed (as the case may
be).
Part 10—Amendment
of Stamp Duties Act 1923 that takes
effect on assent
41—Amendment
of section 60—Interpretation
Section 60—after its present contents (now to be designated as
subsection (1)) insert:
(2) If—
(a) an instrument is deemed to be a conveyance operating as a voluntary
disposition inter vivos by operation of a provision of section 71;
but
(b) another provision of section 71 expressly provides that the
instrument is deemed not to be, or taken not to be, a conveyance operating as a
voluntary disposition inter vivos,
the instrument will not be considered to constitute a conveyance on sale
within the meaning of subsection (1).
42—Amendment
of section 60A—Value of property conveyed or
transferred
Section 60A(1)—delete subsection (1) and
substitute:
(1) Subject to
subsection (2), a reference in this Act (other than in Part 4) to the
value of property conveyed or transferred is a reference to the market value of
the property as at the date of the conveyance, assuming that the property had,
at that date, been free from any encumbrances.
43—Amendment
of section 65—Where consideration consists of real or personal
property
Section 65—delete "date of the sale shall" and substitute:
date of the conveyance will
44—Amendment
of section 71—Instruments chargeable as conveyances
(1) Section 71(5)(j)—delete paragraph (j) and
substitute:
(j) a transfer of property to a body established wholly for charitable or
religious purposes where the Commissioner is satisfied that the property will
not be used (wholly or predominantly) for commercial or business purposes
(including on the basis that this paragraph will not apply even if any revenue,
income or other benefit arising from the use of the property for commercial or
business purposes will be applied towards the charitable or religious purposes
of the body);
(2) Section 71(15), definition of family group—after
"affinity" insert:
, including where the relationship of affinity arises from 2 persons being
domestic partners
45—Amendment
of section 71CC—Interfamilial transfer of farming
property
(1) Section 71CC—after subsection (1) insert:
(1aa) Subsection (1) extends to—
(a) a case where natural person (A) or natural person (B) is a
potential beneficiary under a discretionary trust as if a reference to a natural
person were a reference to the natural person as a potential beneficiary under a
discretionary trust with the trustee of that trust being the natural person's
trustee; and
(b) a case where natural person (A) or natural person (B) is a
beneficiary of a trust (including a discretionary trust) with more than
1 beneficiary (or potential beneficiary); and
(c) a case where natural person (A) or natural person (B) is a
unit holder under a unit trust scheme as if—
(i) a reference to a trustee for the natural person included a reference
to the trustee of the unit trust; and
(ii) a reference to a person being a beneficiary of a trust included a
reference to a person being the holder of a unit in a unit trust scheme;
and
(d) a case where natural person (A) or natural person (B) is a
member of a self managed superannuation fund as if—
(i) a reference to a trustee for a natural person included a reference to
the trustee of the self managed superannuation fund; and
(ii) a reference to a person being a beneficiary of a trust included a
reference to a person being a member of a self managed superannuation
fund.
(2) Section 71CC(3)—after "exempt from duty under this section"
insert:
(including so as to clarify which beneficiary or potential beneficiary, or
beneficiaries or potential beneficiaries, under a trust are the natural persons
who have had the relevant business relationship)
(3) Section 71CC(5)—after the definition of relative
insert:
self managed superannuation fund has the same meaning as in
the Superannuation Industry (Supervision) Act 1993 of the
Commonwealth.
46—Amendment
of section 71DB—Concessional duty on purchases of off-the-plan
apartments
Section 71DB(4)—delete "date of the sale" and substitute:
date of the conveyance
47—Amendment
of section 71EA—Interpretation
Section 71EA(1), definition of family group—after
"affinity" insert:
, including where the relationship of affinity arises from 2 persons being
domestic partners
(1) Schedule 2, clause 2(2)—after item 19
insert:
20. Any application to register a motor vehicle in, or to transfer the
registration of a motor vehicle to, the name of a person who satisfies the
Registrar of Motor Vehicles—
(a) that he or she is the owner of the motor vehicle; and
(b) that he or she is the parent or legal guardian of a child who, in
consequence of the loss by the child of the use of 1 or both of his or her
legs, is permanently unable to use public transport; and
(c) that the motor vehicle will be wholly or mainly used for transporting
the child; and
(d) that he or she is not enjoying the benefit of this exemption in
respect of any other motor vehicle currently owned by him or her.
21. Any application to register a motor vehicle in, or to transfer the
registration of a motor vehicle to, the name of an entity which satisfies the
Registrar of Motor Vehicles—
(a) that the entity is a disability services provider endorsed as an
income tax exempt charity under the Income Tax Assessment Act 1997 of the
Commonwealth; and
(b) that the motor vehicle will be wholly or mainly used for transporting
people with disabilities.
(2) Schedule 2, clause 2(4)—after item 8
insert:
9. Policy of insurance where the application for registration is made by a
person who satisfies the Registrar of Motor Vehicles—
(a) that he or she is the owner of the motor vehicle; and
(b) that he or she is the parent or legal guardian of a child who, in
consequence of the loss by the child of the use of 1 or both of his or her
legs, is permanently unable to use public transport; and
(c) that the motor vehicle will be wholly or mainly used for transporting
the child; and
(d) that he or she is not enjoying the benefit of this exemption in
respect of any other motor vehicle currently owned by him or her.
10. Policy of insurance where the application for registration is made by
an entity which satisfies the Registrar of Motor Vehicles—
(a) that the entity is a disability services provider endorsed as an
income tax exempt charity under the Income Tax Assessment Act 1997 of the
Commonwealth; and
(b) that the motor vehicle will be wholly or mainly used for transporting
people with disabilities.
(1) A reference in
section 60A(1) of the
Stamp
Duties Act 1923
, as in force before the commencement of
section 42
of this Act and at any previous time, to the date of the sale of property
conveyed or transferred is to be taken to have been (and to always have been) a
reference to the date of the conveyance of the property.
(2) A reference in
section 65 of the
Stamp
Duties Act 1923
, as in force before the commencement of
43
of this Act and at any previous time, to the date of the sale of property
is to be taken to have been (and to always have been) a reference to the date of
the conveyance of the property.
(3) Despite
subclauses (1)
and
(2)
, an amendment made by
section 42
or
43
does not operate to impose duty in respect of an instrument or transaction
if, before 17 December 2013—
(a) an assessment of duty was made in respect of the instrument or
transaction; and
(b) an objection to the assessment was lodged with the Minister not later
than 60 days after the date of service of the assessment on the person
assessed as liable to pay duty.
Part 11—Amendment
of Stamp Duties Act 1923 that takes
effect on 1 July 2016
After section 71DB insert:
71DC—Concessional duty on designated real property
transfers
(1) In this section—
qualifying land means land that is being used for any purpose
other than—
(a) land that is taken to be used for residential purposes in accordance
with
subsection (2)(a)
, other than land of a classification excluded by the regulations;
or
(b) land that is taken to be used for primary production in accordance
with
subsection (2)(b)
, other than land of a classification excluded by the
regulations.
(2) For the
purposes of the definition of qualifying land—
(a) land will be
taken to be used for residential purposes if—
(i) the Commissioner, after taking into account information provided by
the Valuer-General, determines that it is being predominantly used for that
purpose; or
(ii) the Commissioner, after taking into account information provided by
the Valuer-General, determines that although the land is not being used for any
particular purpose at the relevant time the land should be taken to be used for
residential purposes due to improvements that are residential in character
having been made to the land; or
(iii) the Commissioner, after taking into account information provided by
the Valuer-General, determines that the land is vacant, or vacant with only
minor improvements, that the land is within a zone established by a Development
Plan under the
Development
Act 1993
that envisages the use, or potential use, of the land as residential, and
that the land should be taken to be used for residential purposes due to that
zoning (subject to the qualification that if the zoning of the land indicates
that the land could, in a manner consistent with the Development Plan, be used
for some other purpose (other than for primary production) then the vacant land
will not be taken to be used for residential purposes); and
(b) land will be
taken to be used for primary production if—
(i) the Commissioner, after taking into account information provided by
the Valuer-General, determines that it is being predominantly used for primary
production purposes; or
(ii) the Commissioner, after taking into account information provided by
the Valuer-General, determines that although the land is not being used at the
relevant time the land should be taken to be used for primary production
purposes due to a classification that has been assigned to the land by the
Valuer-General.
(3) Subject to
subsection (4)
applies to the conveyance or transfer of an interest in qualifying land
executed on or after 1 July 2016 (but before 1 July 2017).
(4)
Subsection (5)
does not apply to a conveyance or transfer of an interest that arises from
a contract of sale or other transaction entered into before
1 July 2016.
(5) The duty
payable on a conveyance or transfer to which this subsection applies (to the
extent to which it provides for the conveyance or transfer of an interest in
qualifying land) will be 66⅔% of the amount of duty payable apart from
this subsection.
(6) Subject to
subsection (7)
applies to the conveyance or transfer of an interest in qualifying land
executed on or after 1 July 2017.
(7)
Subsection (8)
does not apply to a conveyance or transfer of an interest that arises from
a contract of sale or other transaction entered into before
1 July 2017.
(8) The duty
payable on a conveyance or transfer to which this subsection applies (to the
extent to which it provides for the conveyance or transfer of an interest in
qualifying land) will be 33⅓% of the amount of duty payable apart from
subsection (5)
or this subsection.
Part 12—Amendment
of Stamp Duties Act 1923 that takes
effect on 1 July 2018
51—Amendment
of section 71—Instruments chargeable as conveyances
(1) Section 71(3)—delete "to which subsection (4) applies"
(2) Section 71(4), (4a) and (4b)—delete subsections (4), (4a)
and (4b)
(3) Section 71(5)(ia)—delete paragraph (ia)
(4) Section 71—after subsection (14) insert:
(14a) This section does not apply to an instrument that relates to a unit
trust scheme, an interest in a unit trust scheme, a financial product, or an
interest in a financial product, executed on or after
1 July 2018.
52—Amendment
of section 98—Land holding entity
Section 98—delete "if the unencumbered value of the underlying
local land assets of the relevant entity is $1 000 000 or more" and
substitute:
if the relevant entity holds local land assets
53—Insertion
of Part 4A Division 6
Part 4A—after Division 5 insert:
Division 6—Abolition of duty on designated real
property transfers
105A—Abolition of duty on designated real property
transfers
(1) In this section—
qualifying land means land that is being used for any purpose
other than—
(a) land that is taken to be used for residential purposes in accordance
with
subsection (2)(a)
, other than land of a classification excluded by the regulations;
or
(b) land that is taken to be used for primary production in accordance
with
subsection (2)(b)
, other than land of a classification excluded by the
regulations.
(2) For the
purposes of the definition of qualifying land—
(a) land will be
taken to be used for residential purposes if—
(i) the Commissioner, after taking into account information provided by
the Valuer-General, determines that it is being predominantly used for that
purpose; or
(ii) the Commissioner, after taking into account information provided by
the Valuer-General, determines that although the land is not being used for any
particular purpose at the relevant time the land should be taken to be used for
residential purposes due to improvements that are residential in character
having been made to the land; or
(iii) the Commissioner, after taking into account information provided by
the Valuer-General, determines that the land is vacant, or vacant with only
minor improvements, that the land is within a zone established by a Development
Plan under the
Development
Act 1993
that envisages the use, or potential use, of the land as residential, and
that the land should be taken to be used for residential purposes due to that
zoning (subject to the qualification that if the zoning of the land indicates
that the land could, in a manner consistent with the Development Plan, be used
for some other purpose (other than for primary production) then the vacant land
will not be taken to be used for residential purposes); and
(b) land will be
taken to be used for primary production if—
(i) the Commissioner, after taking into account information provided by
the Valuer-General, determines that it is being predominantly used for primary
production purposes; or
(ii) the Commissioner, after taking into account information provided by
the Valuer-General, determines that although the land is not being used at the
relevant time the land should be taken to be used for primary production
purposes due to a classification that has been assigned to the land by the
Valuer-General.
(3) Subject to
subsection (4)
, this section applies to the conveyance or transfer of an interest in
qualifying land executed on or after 1 July 2018.
(4) This section
does not apply to a conveyance or transfer of an interest that arises from a
contract of sale or other transaction entered into before 1 July 2018
(and the duty chargeable in relation to such a conveyance or transfer will be
calculated according to the rates in force as at the date on which the contract
of sale or other transaction was entered into as if the conveyance or transfer
had been executed on that date and, if relevant, according to the provisions of
section 71DC).
(5) No liability to duty arises in relation to a conveyance or transfer of
property to which this section applies (to the extent to which it provides for
the conveyance or transfer of an interest in qualifying land).
(6) Despite section 16, the duty chargeable in relation to a
conveyance or transfer to which this section applies executed before
1 July 2018 but produced to the Commissioner for the purposes of being
stamped on or after that date will be calculated according to the rates in force
as at the date on which the conveyance or transfer was executed (and, if
relevant, according to the provisions of section 71DC).
Part 13—Amendment
of Supreme Court
Act 1935
54—Amendment
of section 130—Court fees
Section 130—after subsection (2) insert:
(3) Fees charged in respect of proceedings, or any step in proceedings, in
the court's probate jurisdiction may be based on the value of the deceased
person's estate or on any other basis, whether or not the fee exceeds the actual
administrative cost incurred.
Part 14—Amendment
of Taxation Administration
Act 1996
55—Amendment
of section 93—Appeal prohibited unless tax is paid
(1) Section 93(1)—delete "the whole of the amount of any tax" and
substitute:
50% of the whole of the tax
(2) Section 93(2)—delete "the tax" and substitute:
the amount of tax required to be paid under subsection (1)
Part 15—Amendment
of Water Industry
Act 2012
Section 93—delete the section
Section 94—delete the section
58—Amendment
of section 115—Regulations
Section 115(2)(h)—delete paragraph (h)
principal Act means the
Water
Industry Act 2012
.
(2) The repeal of
section 93 of the principal Act by this Act does not affect any liability to pay
the Save the River Murray levy for the 2014/2015 financial year, or for any
preceding financial year (and that section will be taken to continue to apply in
relation to such a liability as if it has not been repealed).
(3) The Save the River
Murray Fund is wound up on the commencement of this subsection by force of this
subsection.
Part 16—Repeal
of Hindmarsh Island Bridge
Act 1999
60—Repeal
of Hindmarsh Island Bridge
Act 1999
The
Hindmarsh
Island Bridge Act 1999
is repealed.
(1) The repeal of the
Hindmarsh
Island Bridge Act 1999
does not affect a liability to make a payment in respect of any period
concluding before 1 July 2015 (and that Act will be taken to continue
to apply in relation to such a liability as if it had not been
repealed).
(2) On the repeal of the
Hindmarsh
Island Bridge Act 1999
, the Tripartite Deed under that Act will no longer apply so as to give
rise to liability to make a payment in respect of any period commencing on or
after 1 July 2015 (even though the Term under the Deed has not
expired).