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TASMANIA
__________
TAXATION AND RELATED LEGISLATION
(MISCELLANEOUS AMENDMENTS) BILL 2013
__________
CONTENTS
PART 1 - PRELIMINARY
1. Short title
2. Commencement
PART 2 - DUTIES ACT 2001 AMENDED
3. Principal Act
4. Section 19 amended (What is the consideration for the transfer
of dutiable property?)
5. Section 26 amended (Partitions)
6. Section 29 amended (General rate)
7. Section 36BA inserted
36BA. Application to put and call options
8. Section 37 amended (Change in trustees)
9. Section 38 amended (Transfers in relation to managed
investment schemes)
10. Section 39 amended (Property vested in an apparent purchaser)
11. Section 40 amended (Transfers back from a nominee)
12. Section 41 amended (Property passing to beneficiaries)
13. Section 42 amended (Establishment of a trust relating to
unidentified property and non-dutiable property)
[Bill 53]-IV
14. Section 43 amended (Instrument relating to managed investment
scheme)
15. Section 44 amended (Instruments relating to superannuation)
16. Section 45 amended (Transfer of property from one
superannuation fund to another)
17. Section 46 amended (Transfers between trustees and custodians
of superannuation funds or trusts)
18. Section 47 amended (Deceased estates)
19. Section 48 amended (Conversion of lots to strata title)
20. Section 49 amended (Duty where no change of beneficial
ownership)
21. Section 50 amended (Adjustment of dutiable value of transfer on
a company wind-up)
22. Section 53 amended (Exemptions relating to various
transactions)
23. Chapter 3, Part 5 repealed
24. Section 174 amended (What duty is payable?)
25. Section 184 amended (Monthly returns and payment of duty)
26. Section 190 amended (What insurance is exempt from duty?)
27. Section 220 amended (Replicas)
28. Section 225 amended (Intergenerational rural transfers)
29. Section 226 amended (Subsequent liability for duty in certain
circumstances)
30. Schedule 1 amended (Savings and transitional provisions)
PART 3 - FIRST HOME OWNER GRANT ACT 2000 AMENDED
31. Principal Act
32. Section 12 amended (Criterion 5 - Residence and ownership
requirement)
PART 4 - LAND TAX ACT 2000 AMENDED
33. Principal Act
34. Section 6 amended (Principal residence land)
35. Section 23 substituted
23. Assessed land value
2
36. Section 37 amended (Land tax rebate)
37. Section 39 amended (Recovery of unpaid land tax)
PART 5 - LAND TAX ACT 2000 AMENDED
38. Principal Act
39. Section 19C inserted
19C. Partially exempt land: flood levees
40. Section 37B inserted
37B. Extension of classification in case of natural
disasters, &c.
PART 6 - TAXATION ADMINISTRATION ACT 1997 AMENDED
41. Principal Act
42. Section 38 substituted
38. Remission of interest
43. Section 45 substituted
45. Remission of penalty tax
PART 7 - REPEAL OF ACT
44. Repeal of Act
3
4
TAXATION AND RELATED LEGISLATION
(MISCELLANEOUS AMENDMENTS) BILL 2013
This Public Bill originated in the House of Assembly, and, having this day passed, is
now ready for presentation to the Legislative Council for its concurrence.
P. R. ALCOCK, Clerk of the House
19 September 2013
(Brought in by the Minister for Finance, the Honourable Scott
Bacon)
A BILL FOR
An Act to amend the Duties Act 2001, the First Home
Owner Grant Act 2000, the Land Tax Act 2000 and the
Taxation Administration Act 1997
Be it enacted by His Excellency the Governor of Tasmania, by
and with the advice and consent of the Legislative Council and
House of Assembly, in Parliament assembled, as follows:
PART 1 - PRELIMINARY
1. Short title
This Act may be cited as the Taxation and
Related Legislation (Miscellaneous
Amendments) Act 2013.
2. Commencement
(1) Except as provided in this section, this Act
commences on the day on which this Act
receives the Royal Assent.
[Bill 53] 5
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 2 Part 1 - Preliminary
(2) Part 5 is taken to have commenced on
1 July 2013.
6
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 2 - Duties Act 2001 Amended s. 3
PART 2 - DUTIES ACT 2001 AMENDED
3. Principal Act
In this Part, the Duties Act 2001* is referred to
as the Principal Act.
4. Section 19 amended (What is the consideration for
the transfer of dutiable property?)
Section 19 of the Principal Act is amended by
inserting after subsection (1) the following
subsection:
(2) If, as part of an arrangement involving a
dutiable transaction over dutiable
property, the transferor or an associated
person of the transferor agrees, expressly
or by implication, with the transferee or
an associated person of the transferee -
(a) to effect improvements to the
dutiable property before or after
the dutiable transaction; and
(b) those improvements are, or will
be, required to comply with the
Building Act 2000 -
the consideration for the dutiable
transaction over the dutiable property
includes the consideration given, or
*No. 15 of 2001
7
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 5 Part 2 - Duties Act 2001 Amended
agreed to be given, to effect those
improvements.
5. Section 26 amended (Partitions)
Section 26(5) of the Principal Act is amended by
omitting "$20" and substituting "$50".
6. Section 29 amended (General rate)
Section 29(1) of the Principal Act is amended by
omitting
Not more than $1 300 $20
from the table and substituting the following
items:
Not more than $3 000 $50
More than $3 000 but not more than $50 plus $1.75 for every $100, or
$25 000 part, by which the dutiable value
exceeds $3 000
7. Section 36BA inserted
After section 36B of the Principal Act, the
following section is inserted in Division 2:
36BA. Application to put and call options
(1) This Division applies to a put and call
option as if -
8
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 2 - Duties Act 2001 Amended s. 7
(a) the put and call option were a sale
agreement under
section 36B(1)(a); and
(b) the person who enters the put and
call option as the person who has
the right to purchase the dutiable
property were the first purchaser
under section 36B(1)(a); and
(c) the person who enters the put and
call option as the person who has
the right to sell the dutiable
property were the vendor under
section 36B(1)(a); and
(d) where a right to acquire dutiable
property, or part of dutiable
property, under a put and call
option is obtained by another
person, that other person were a
subsequent purchaser under
paragraph (b) of section 36B(1)
and that right were a transfer right
under that paragraph.
(2) For the purposes of section 36B(1)(b),
the completion of the put and call option
is upon the transfer of the dutiable
property following the exercise of either
the put or call rights under the option.
(3) For the purposes of section 36D(1)(a),
the consideration given or agreed to be
given under the put and call option
9
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 8 Part 2 - Duties Act 2001 Amended
includes the consideration given or
agreed to be given to obtain the put and
call option and any consideration payable
on the exercise of the put and call option.
(4) For the purposes of section 36D(2)(a),
the consideration given or agreed to be
given to obtain the transfer right includes
any consideration payable on the exercise
of the put and call option.
8. Section 37 amended (Change in trustees)
Section 37 of the Principal Act is amended as
follows:
(a) by omitting from subsection (2) "$20"
and substituting "$50";
(b) by omitting from subsection (3) "$20"
and substituting "$50";
(c) by omitting from subsection (5) "$20"
and substituting "$50";
(d) by omitting from subsection (6) "$20"
and substituting "$50".
9. Section 38 amended (Transfers in relation to
managed investment schemes)
Section 38 of the Principal Act is amended as
follows:
10
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 2 - Duties Act 2001 Amended s. 10
(a) by omitting from subsection (1) "$20"
and substituting "$50";
(b) by omitting from subsection (2) "$20"
and substituting "$50".
10. Section 39 amended (Property vested in an
apparent purchaser)
Section 39(1) of the Principal Act is amended by
omitting "$20" and substituting "$50".
11. Section 40 amended (Transfers back from a
nominee)
Section 40 of the Principal Act is amended as
follows:
(a) by omitting from subsection (1) "$20"
and substituting "$50";
(b) by omitting from subsection (2) "$20"
twice occurring and substituting "$50";
(c) by omitting from subsection (3) "$20"
and substituting "$50".
12. Section 41 amended (Property passing to
beneficiaries)
Section 41 of the Principal Act is amended by
omitting "$20" and substituting "$50".
11
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 13 Part 2 - Duties Act 2001 Amended
13. Section 42 amended (Establishment of a trust
relating to unidentified property and non-dutiable
property)
Section 42 of the Principal Act is amended as
follows:
(a) by omitting from subsection (1) "$20"
and substituting "$50";
(b) by omitting from subsection (2) "$20"
and substituting "$50".
14. Section 43 amended (Instrument relating to
managed investment scheme)
Section 43 of the Principal Act is amended as
follows:
(a) by omitting from subsection (1) "$20"
and substituting "$50";
(b) by omitting from subsection (2) "$20"
and substituting "$50".
15. Section 44 amended (Instruments relating to
superannuation)
Section 44(1) of the Principal Act is amended by
omitting "$20" and substituting "$50".
12
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 2 - Duties Act 2001 Amended s. 16
16. Section 45 amended (Transfer of property from one
superannuation fund to another)
Section 45(2) of the Principal Act is amended by
omitting "$20" and substituting "$50".
17. Section 46 amended (Transfers between trustees
and custodians of superannuation funds or trusts)
Section 46(2) of the Principal Act is amended by
omitting "$20" and substituting "$50".
18. Section 47 amended (Deceased estates)
Section 47(1) of the Principal Act is amended by
omitting "$20" and substituting "$50".
19. Section 48 amended (Conversion of lots to strata
title)
Section 48 of the Principal Act is amended by
omitting "$20" and substituting "$50".
20. Section 49 amended (Duty where no change of
beneficial ownership)
Section 49 of the Principal Act is amended by
omitting "$20" and substituting "$50".
13
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 21 Part 2 - Duties Act 2001 Amended
21. Section 50 amended (Adjustment of dutiable value
of transfer on a company wind-up)
Section 50(2) of the Principal Act is amended by
omitting "$20" and substituting "$50".
22. Section 53 amended (Exemptions relating to various
transactions)
Section 53 of the Principal Act is amended as
follows:
(a) by omitting from paragraph (d) "$1 300"
and substituting "$3 000";
(b) by omitting paragraph (n) and
substituting the following paragraph:
(n) a dutiable transaction for no
consideration that is solely -
(i) in furtherance of any
charitable, religious or
educational purpose; or
(ii) to or in favour of any
corporation or association
that is incorporated or
associated for any such
purpose;
23. Chapter 3, Part 5 repealed
Part 5 of Chapter 3 of the Principal Act is
repealed.
14
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 2 - Duties Act 2001 Amended s. 24
24. Section 174 amended (What duty is payable?)
Section 174(5) of the Principal Act is amended
by omitting "$20" and substituting "$50".
25. Section 184 amended (Monthly returns and
payment of duty)
Section 184(a)(v) of the Principal Act is
amended by omitting "$20" and substituting
"$50".
26. Section 190 amended (What insurance is exempt
from duty?)
Section 190(c) of the Principal Act is amended
by omitting "an organisation registered under
Part VI of the National Health Act 1953" and
substituting "a private health insurer within the
meaning of the Private Health Insurance Act
2007".
27. Section 220 amended (Replicas)
Section 220(1) of the Principal Act is amended
by omitting "$20" and substituting "$50".
28. Section 225 amended (Intergenerational rural
transfers)
Section 225 of the Principal Act is amended as
follows:
15
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 28 Part 2 - Duties Act 2001 Amended
(a) by inserting in subsection (1) "an interest
in" after "a transfer of";
(b) by omitting from subsection (1) "if the
Commissioner is satisfied that the
transfer" and substituting "to the extent
that the Commissioner is satisfied that
the transfer of the interest";
(c) by inserting the following subparagraph
after subparagraph (ii) in subsection
(1)(c):
(iia) a natural person to a company
(other than as trustee) of which
all the shareholders are relatives
of the person at the time of the
transfer; or
(d) by omitting from subsection (1)(c)(v)
"variation." and substituting "variation;
or";
(e) by inserting the following subparagraph
after subparagraph (v) in subsection
(1)(c):
(vi) a trustee of a trust to a company
(other than as trustee) of which
all the shareholders are relatives,
at the time of the transfer, of all
those named beneficiaries of the
trust who are natural persons.
16
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 2 - Duties Act 2001 Amended s. 28
(f) by omitting paragraph (e) from
subsection (3) and substituting the
following paragraphs:
(e) the spouse or caring partner of a
person referred to in
paragraph (a), (b), (ba), (c) or (d);
or
(f) an adopted child, natural child,
step-child or surrogate child of a
person referred to in
paragraph (a), (b), (ba), (c), (d) or
(e) or the spouse or caring partner
of that child.
(g) by omitting subsection (4) and
substituting the following subsection:
(4) For the purposes of this section -
(a) a reference to a relative of
a person is to be taken to
include a reference to the
person himself or herself;
and
(b) a transfer from a deceased
estate may be taken to be
a transfer from the
deceased person; and
(c) the death of a person does
not alter the relationship
between that person and
any other person.
17
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 29 Part 2 - Duties Act 2001 Amended
29. Section 226 amended (Subsequent liability for duty
in certain circumstances)
Section 226(1) of the Principal Act is amended
as follows:
(a) by inserting "of an interest in real
property" after "that a transfer";
(b) by inserting "of an interest" after "not a
transfer".
30. Schedule 1 amended (Savings and transitional
provisions)
Clause 2 of Schedule 1 to the Principal Act is
amended by omitting subclause (3) and
substituting the following subclause:
(3) Without limiting section 255, the
reference in section 41(c) to duty charged
by this Act includes a reference to duty
charged under the former Act.
18
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 3 - First Home Owner Grant Act 2000 Amended s. 31
PART 3 - FIRST HOME OWNER GRANT ACT 2000
AMENDED
31. Principal Act
In this Part, the First Home Owner Grant Act
2000* is referred to as the Principal Act.
32. Section 12 amended (Criterion 5 - Residence and
ownership requirement)
Section 12 of the Principal Act is amended by
inserting after subsection (1A) the following
subsection:
(1B) A decision to approve a lesser period of
occupation, or to approve a longer period
before occupation is commenced, may be
made at any time before a decision on the
application has been reversed or varied
under section 23.
*No. 19 of 2000
19
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 33 Part 4 - Land Tax Act 2000 Amended
PART 4 - LAND TAX ACT 2000 AMENDED
33. Principal Act
In this Part, the Land Tax Act 2000* is referred
to as the Principal Act.
34. Section 6 amended (Principal residence land)
Section 6 of the Principal Act is amended as
follows:
(a) by inserting the following paragraph after
paragraph (a) in subsection (2):
(ab) there is no dwelling on the land
that is used as a place of
residence; and
(b) by omitting from subsection (3)(a)(iii)
"and" and substituting "or";
(c) by inserting the following subparagraph
after subparagraph (iii) in subsection
(3)(a):
(iv) the trustee of a fixed trust in
which all of the beneficiaries are
individually named or are
descendants of individually
named beneficiaries; and
*No. 74 of 2000
20
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 4 - Land Tax Act 2000 Amended s. 35
(d) by inserting the following subsection
after subsection (3):
(3A) For the purposes of
subsection (3)(b), a person is
taken to be a beneficiary of a
fixed trust referred to in
subsection (3)(a)(iv) only if the
person would be entitled, on the
winding up of the trust, to 50% or
more of the value of the income
and capital of the trust.
35. Section 23 substituted
Section 23 of the Principal Act is repealed and
the following section is substituted:
23. Assessed land value
(1) The assessed land value of land is the
land value as determined under the
Valuation of Land Act 2001 on applying
any relevant adjustment factor
determined under Part 9A of that Act.
(2) If a parcel of land is subdivided from
land which has a land value determined
under the Valuation of Land Act 2001
and the value of that subdivided parcel of
land has not been so determined -
(a) the value of the subdivided parcel
of land is to be determined by
multiplying the assessed land
21
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 36 Part 4 - Land Tax Act 2000 Amended
value of the total area of land
before the subdivision (inclusive
of any relevant adjustment factor
determined by the Valuer-
General under Part 9A of that
Act) by the proportion that the
subdivided parcel of land bears to
the total area of land before the
subdivision; and
(b) the value of the remaining land
from which the parcel was
subdivided is the assessed land
value of the total area of land
before the subdivision less the
value calculated under
paragraph (a).
36. Section 37 amended (Land tax rebate)
Section 37 of the Principal Act is amended by
omitting subsection (1A).
37. Section 39 amended (Recovery of unpaid land tax)
Section 39 of the Principal Act is amended as
follows:
(a) by omitting paragraph (c) from
subsection (2) and substituting the
following paragraph:
(c) if the owner owns additional
land -
22
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 4 - Land Tax Act 2000 Amended s. 37
(i) the total amount of land
tax owing in respect of
the land that was sold or
transferred plus any
penalty tax and interest
payable; and
(ii) if a tax default, within the
meaning of the Taxation
Administration Act 1997,
has occurred in respect of
the additional land, the
total amount of land tax to
which the default relates
plus any penalty tax and
interest payable.
(b) by omitting paragraph (b) from
subsection (3) and substituting the
following paragraph:
(b) if the owner owns additional
land -
(i) the amount of land tax
that would be payable had
the land that was sold or
transferred had an
assessed land value equal
to the determined value of
that land plus any penalty
tax and interest payable;
and
23
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 37 Part 4 - Land Tax Act 2000 Amended
(ii) if a tax default, within the
meaning of the Taxation
Administration Act 1997,
has occurred in respect of
the additional land, the
total amount of land tax to
which the default relates
plus any penalty tax and
interest payable.
24
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 5 - Land Tax Act 2000 Amended s. 38
PART 5 - LAND TAX ACT 2000 AMENDED
38. Principal Act
In this Part, the Land Tax Act 2000* is referred
to as the Principal Act.
39. Section 19C inserted
After section 19B of the Principal Act, the
following section is inserted in Division 2:
19C. Partially exempt land: flood levees
(1) Land tax is not payable in respect of land
that contains a flood levee, where the
land is held or owned by a local authority
or other local governing body or
statutory public body (other than an
applicable authority as defined in section
39A of the Local Government Act 1993).
(2) However, for the purposes of
subsection (1), if any part of land is not
used for the purposes of a flood levee,
the Commissioner is to apportion the
land value of the land between exempt
land and general land, for which
purpose -
(a) the apportioned assessed land
value in respect of exempt land is
to be determined by multiplying
*No. 74 of 2000
25
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 40 Part 5 - Land Tax Act 2000 Amended
the assessed land value of the
land by the proportion of the land
used for the purposes of a flood
levee; and
(b) the apportioned assessed land
value in respect of general land is
to be the assessed land value of
the land less the apportioned
assessed land value in respect of
exempt land calculated under
paragraph (a).
(3) In this section -
flood levee means -
(a) an improvement of any
type that is designed and
used to regulate water
levels for the purposes of
flood protection; and
(b) a naturally occurring
ridge or wall that
regulates water levels.
40. Section 37B inserted
After section 37A of the Principal Act, the
following section is inserted in Part 3:
26
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 5 - Land Tax Act 2000 Amended s. 40
37B. Extension of classification in case of natural
disasters, &c.
(1) Where land that is classified as principal
residence land is affected by flood, fire
or other similar disaster so that the land
is not suitable to be occupied as principal
residence land, the owner of the land
may apply to the Commissioner of State
Revenue to extend the classification of
that land as principal residence land for a
period of up to 2 years, notwithstanding
that the land is unsuitable for use as
principal residence land.
(2) If an extension is granted under
subsection (1), the owner of the principal
residence land is not entitled to have any
other land classified as principal
residence land during the period of the
extension.
(3) Where land that is classified as primary
production land is affected by flood, fire
or other similar disaster so that the land
is not suitable to be used as primary
production land, the owner of the land
may apply to the Commissioner of State
Revenue to extend the classification of
that land as primary production land for a
period of up to 2 years, notwithstanding
that the land is unsuitable for use as
primary production land.
27
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 40 Part 5 - Land Tax Act 2000 Amended
(4) The Commissioner of State Revenue is
not to extend the classification of land
under this section unless satisfied that the
flood, fire or other similar disaster was
outside the control of the owner of the
land.
28
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 6 - Taxation Administration Act 1997 Amended s. 41
PART 6 - TAXATION ADMINISTRATION ACT 1997
AMENDED
41. Principal Act
In this Part, the Taxation Administration Act
1997* is referred to as the Principal Act.
42. Section 38 substituted
Section 38 of the Principal Act is repealed and
the following section is substituted:
38. Remission of interest
(1) The Commissioner, in any circumstances
the Commissioner considers appropriate,
may remit interest payable by a taxpayer
by any amount.
(2) If the Commissioner remits any interest
under this section, he or she may, at any
time, reimpose all or part of the interest
in any circumstances that the
Commissioner considers appropriate.
43. Section 45 substituted
Section 45 of the Principal Act is repealed and
the following section is substituted:
*No. 74 of 1997
29
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
s. 43 Part 6 - Taxation Administration Act 1997 Amended
45. Remission of penalty tax
(1) The Commissioner, in any circumstances
the Commissioner considers appropriate,
may remit penalty tax by any amount.
(2) If the Commissioner remits any penalty
tax under this section, he or she may, at
any time, reimpose all or part of the
penalty tax in any circumstances that the
Commissioner considers appropriate.
30
Taxation and Related Legislation (Miscellaneous Amendments)
Act 2013
Act No. of
Part 7 - Repeal of Act s. 44
PART 7 - REPEAL OF ACT
44. Repeal of Act
This Act is repealed on the three hundred and
sixty fifth day from the day on which it
commences.
Government Printer, Tasmania 31