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This is a Bill, not an Act. For current law, see the Acts databases.


REVENUE LAWS AMENDMENT (TAXATION) BILL 2007

                       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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