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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia Revenue Laws Amendment (Taxation) Bill 2007 CONTENTS Part 1 -- Preliminary 1. Short title 2 2. Commencement 2 Part 2 -- Land Tax Act 2002 amended 3. The Act amended 3 4. Section 5 amended 3 Part 3 -- Land Tax Assessment Act 2002 amended 5. The Act amended 4 6. Section 38A inserted 4 38A. Land used as an aged care facility 4 Part 4 -- Metropolitan Region Improvement Tax Act 1959 amended 7. The Act amended 5 8. Section 9 amended 5 9. Section 10 inserted 5 10. Rate of tax imposed after 30 June 2007 5 Part 5 -- Stamp Act 1921 amended Division 1 -- The Act amended 10. The Act amended 7 Division 2 -- Amendments relating to first home owners 11. Section 75AG amended 7 12. Second Schedule amended 7 207--1 page i Revenue Laws Amendment (Taxation) Bill 2007 Contents Division 3 -- Amendments relating to motor vehicles 13. Second Schedule amended 8 14. Third Schedule amended 9 Division 4 -- Transitional provisions 15. Schedule 4 amended 10 Division 2 -- Provisions for Revenue Laws Amendment (Taxation) Act 2007 1. Application of Act in relation to certain first home owners 10 2. Application of Act in relation to certain motor vehicles -- 1 July 2007 11 3. Application of Act in relation to certain motor vehicles -- 1 January 2009 11 4. Reassessments 12 page ii Western Australia LEGISLATIVE ASSEMBLY Revenue Laws Amendment (Taxation) Bill 2007 A Bill for An Act to amend -- • the Land Tax Act 2002; and • the Land Tax Assessment Act 2002; and • the Metropolitan Region Improvement Tax Act 1959; and • the Stamp Act 1921. The Parliament of Western Australia enacts as follows: page 1 Revenue Laws Amendment (Taxation) Bill 2007 Part 1 Preliminary s. 1 Part 1 -- Preliminary 1. Short title This is the Revenue Laws Amendment (Taxation) Act 2007. 2. Commencement 5 This Act comes into operation, or is deemed to have come into operation, as follows: (a) Part 1 comes into operation on the day on which this Act receives the Royal Assent ("assent day"); (b) Parts 2 and 4 come into operation on the day after assent 10 day; (c) Part 3 -- (i) comes into operation on 30 June 2007 if assent day is not later than that day; or (ii) is deemed to have come into operation on 15 30 June 2007 if assent day is later than that day; (d) Part 5 (other than section 13(2)) -- (i) comes into operation on 1 July 2007 if assent day is not later than that day; or (ii) is deemed to have come into operation on 20 1 July 2007 if assent day is later than that day; (e) section 13(2) comes into operation on 1 January 2009. page 2 Revenue Laws Amendment (Taxation) Bill 2007 Land Tax Act 2002 amended Part 2 s. 3 Part 2 -- Land Tax Act 2002 amended 3. The Act amended The amendments in this Part are to the Land Tax Act 2002*. [* Reprint 1 as at 4 November 2005. 5 For subsequent amendments see Western Australian Legislation Information Tables for 2006, Table 1.] 4. Section 5 amended Section 5 is amended as follows: (a) in the heading to Table 5 by deleting "and subsequent 10 financial years"; (b) by inserting after Table 5 the following Table -- " Table 6: Land tax rates for 2007/08 and subsequent financial years Unimproved value of the land Exceeding Not exceeding Rate of land tax ($) ($) 0 250 000 Nil 250 000 875 000 0.15 cent for each $1 in excess of $250 000 875 000 2 000 000 $937.50 + 0.75 cent for each $1 in excess of $875 000 2 000 000 5 000 000 $9 375.00 + 1.30 cents for each $1 in excess of $2 000 000 5 000 000 10 000 000 $48 375.00 + 1.55 cents for each $1 in excess of $5 000 000 10 000 000 $125 875.00 + 2.30 cents for each $1 in excess of $10 000 000 15 ". page 3 Revenue Laws Amendment (Taxation) Bill 2007 Part 3 Land Tax Assessment Act 2002 amended s. 5 Part 3 -- Land Tax Assessment Act 2002 amended 5. The Act amended The amendment in this Part is to the Land Tax Assessment Act 2002*. 5 [* Reprint 1 as at 11 August 2006. For subsequent amendments see Western Australian Legislation Information Tables for 2006, Table 1 and Act No. 73 of 2006.] 6. Section 38A inserted 10 After section 38 the following section is inserted -- " 38A. Land used as an aged care facility (1) In this section -- "aged care facility" means any building or any part of 15 a building used for the provision of a residential care service that is certified under the Commonwealth Aged Care Act 1997, if the service has been certified having regard to the building or the part of the building; 20 "residential care" has the meaning given in the Commonwealth Aged Care Act 1997. (2) Land is exempt for an assessment year if, at midnight 30 June in the previous financial year, it is used for the purposes of an aged care facility. 25 ". page 4 Revenue Laws Amendment (Taxation) Bill 2007 Metropolitan Region Improvement Tax Act 1959 amended Part 4 s. 7 Part 4 -- Metropolitan Region Improvement Tax Act 1959 amended 7. The Act amended The amendments in this Part are to the Metropolitan Region 5 Improvement Tax Act 1959*. [* Reprint 3 as at 9 May 2003. For subsequent amendments see Western Australian Legislation Information Tables for 2006, Table 1.] 8. Section 9 amended 10 Section 9 is amended by inserting after "year of assessment" in the second place where it occurs -- " up to and including the year of assessment ending on 30 June 2007 15 ". 9. Section 10 inserted After section 9 the following section is inserted -- " 10. Rate of tax imposed after 30 June 2007 20 The rates of Metropolitan Region Improvement Tax imposed by this Act and payable under the Planning and Development Act 2005 are set out in the Table to this section for the relevant year of assessment according to the unimproved value of the land. page 5 Revenue Laws Amendment (Taxation) Bill 2007 Part 4 Metropolitan Region Improvement Tax Act 1959 amended s. 9 Table 1: Metropolitan Region Improvement Tax rates for 2007/08 and subsequent years of assessment Unimproved value of the land Exceeding Not exceeding Rate of Metropolitan Region ($) ($) Improvement Tax 0 250 000 Nil 250 000 0.18 cent for each $1 in excess of $250 000 ". page 6 Revenue Laws Amendment (Taxation) Bill 2007 Stamp Act 1921 amended Part 5 The Act amended Division 1 s. 10 Part 5 -- Stamp Act 1921 amended Division 1 -- The Act amended 10. The Act amended The amendments in this Part are to the Stamp Act 1921*. 5 [* Reprint 16 as at 12 May 2006. For subsequent amendments see Western Australian Legislation Information Tables for 2006, Table 1.] Division 2 -- Amendments relating to first home owners 11. Section 75AG amended 10 Section 75AG(1a) is amended as follows: (a) in paragraph (a) by deleting "$350 000" and inserting instead -- " $600 000 "; (b) in paragraph (b) by deleting "$200 000" and inserting 15 instead -- " $400 000 ". 12. Second Schedule amended (1) The Second Schedule item 4(2) is amended as follows: (a) by deleting "$250 000" in each place where it occurs 20 and inserting instead -- " $500 000 "; (b) by deleting "$350 000" and inserting instead -- " $600 000 "; (c) by deleting "$13.20" and inserting instead -- 25 " $26.10 ". page 7 Revenue Laws Amendment (Taxation) Bill 2007 Part 5 Stamp Act 1921 amended Division 3 Amendments relating to motor vehicles s. 13 (2) The Second Schedule item 4(3) is amended as follows: (a) by deleting "$150 000" in each place where it occurs and inserting instead -- " $300 000 "; 5 (b) by deleting "$200 000" and inserting instead -- " $400 000 "; (c) by deleting "$12.40" and inserting instead -- " $15.70 ". Division 3 -- Amendments relating to motor vehicles 10 13. Second Schedule amended (1) The Second Schedule item 14(1) is amended as follows: (a) in paragraph (a) by deleting "$15 000" and inserting instead -- " $20 000 "; 15 (b) in paragraph (b) by deleting "$15 000" and inserting instead -- " $20 000 "; (c) in paragraph (b) by deleting "$40 000" and inserting instead -- 20 " $45 000 "; (d) in paragraph (b) by deleting "15000" in the formula and inserting instead -- " 20000 "; (e) in paragraph (c) by deleting "$40 000" and inserting 25 instead -- " $45 000 ". page 8 Revenue Laws Amendment (Taxation) Bill 2007 Stamp Act 1921 amended Part 5 Amendments relating to motor vehicles Division 3 s. 14 (2) The Second Schedule item 14(1) is amended as follows: (a) in paragraph (a) by deleting "$20 000" and inserting instead -- " $25 000 "; 5 (b) in paragraph (b) by deleting "$20 000" and inserting instead -- " $25 000 "; (c) in paragraph (b) by deleting "$45 000" and inserting instead -- 10 " $50 000 "; (d) in paragraph (b) by deleting "20000" in the formula and inserting instead -- " 25000 "; (e) in paragraph (c) by deleting "$45 000" and inserting 15 instead -- " $50 000 ". (3) The Second Schedule item 14(2) is amended as follows: (a) by inserting after "grant" -- " or transfer "; 20 (b) by deleting "that has not previously been used nor licensed or registered under the Road Traffic Act 1974 or a corresponding State law". (4) The Second Schedule item 14(3) is deleted. 14. Third Schedule amended 25 The Third Schedule clause 9 is amended by inserting after subclause (6) the following subclauses -- " (7) A licence granted or transferred to a person for a caravan or camper trailer, that is, a trailer permanently fitted for human 30 habitation in the course of a journey. page 9 Revenue Laws Amendment (Taxation) Bill 2007 Part 5 Stamp Act 1921 amended Division 4 Transitional provisions s. 15 (8) In subclause (7) -- "trailer" means a vehicle designed to be drawn by another vehicle. ". 5 Division 4 -- Transitional provisions 15. Schedule 4 amended After Schedule 4 Division 1 the following Division is inserted -- " 10 Division 2 -- Provisions for Revenue Laws Amendment (Taxation) Act 2007 1. Application of Act in relation to certain first home owners (1) Subject to subclause (3), this Act applies to and in relation 15 to an instrument referred to in section 75AG(1) executed on or after 10 May 2007 as if the amendments in sections 11 and 12 of the Revenue Laws Amendment (Taxation) Act 2007 had come into operation on 10 May 2007. (2) If, in relation to an instrument referred to in 20 section 75AG(1) executed on or after 12 February 2007 and before 10 May 2007, the transferee, or each transferee, is a participant in the scheme known as the First Start Shared Equity Scheme (provided by the State through the Department of Housing and Works), this Act applies to and 25 in relation to the instrument as if the amendments in sections 11 and 12 of the Revenue Laws Amendment (Taxation) Act 2007 had come into operation on 12 February 2007. (3) If an instrument referred to in section 75AG(1) (other than 30 an instrument to which subclause (2) applies) was executed before 10 May 2007, this Act applies to and in relation to -- (a) the instrument; and page 10 Revenue Laws Amendment (Taxation) Bill 2007 Stamp Act 1921 amended Part 5 Transitional provisions Division 4 s. 15 (b) if the instrument is replaced by an instrument executed on or after 10 May 2007 -- the replacement instrument, to the extent to which it is an instrument referred to in section 75AG(1), 5 as if the amendments made by sections 11 and 12 of the Revenue Laws Amendment (Taxation) Act 2007 had not come into operation. (4) In this clause, a reference to an instrument referred to in section 75AG(1) includes a reference to an instrument that 10 would have been referred to in section 75AG(1) but for the amount or value of the consideration exceeding $350 000 or $200 000 (as the case requires). 2. Application of Act in relation to certain motor vehicles -- 1 July 2007 15 (1) This Act as amended by sections 13(1), (3) and (4) and 14 of the Revenue Laws Amendment (Taxation) Act 2007 applies to and in relation to the grant or transfer of a licence the application for which was made on or after 1 July 2007. (2) If -- 20 (a) the application for the grant or transfer of a licence was made before 1 July 2007; or (b) under section 76K, the amount of duty payable in respect of the grant or transfer of a licence was assessed before 1 July 2007, 25 this Act applies to and in relation to the grant or transfer of the licence as if the amendments made by sections 13(1), (3) and (4) and 14 of the Revenue Laws Amendment (Taxation) Act 2007 had not come into operation. 3. Application of Act in relation to certain motor 30 vehicles -- 1 January 2009 (1) This clause has effect on and from 1 January 2009. page 11 Revenue Laws Amendment (Taxation) Bill 2007 Part 5 Stamp Act 1921 amended Division 4 Transitional provisions s. 15 (2) This Act as amended by section 13(2) of the Revenue Laws Amendment (Taxation) Act 2007 applies to and in relation to the grant or transfer of a licence the application for which was made on or after 1 January 2009. 5 (3) If -- (a) the application for the grant or transfer of a licence is made before 1 January 2009; or (b) under section 76K, the amount of duty payable in respect of the grant or transfer of a licence is 10 assessed before 1 January 2009, this Act applies to and in relation to the grant or transfer of the licence as if the amendments made by section 13(2) of the Revenue Laws Amendment (Taxation) Act 2007 had not come into operation. 15 4. Reassessments Subject to section 17 of the Taxation Administration Act 2003, the Commissioner must make any reassessment necessary to give effect to this Division. ". 20
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