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


REVENUE LAWS AMENDMENT (TAX RELIEF) BILL (NO. 2) 2004

                    Western Australia


Revenue Laws Amendment (Tax Relief) Bill
              (No. 2) 2004

                         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 -- Pay-roll Tax Act 2002
5.   The Act amended                           5
6.   Section 5 amended                         5
     Part 4 -- Stamp Act 1921 amended
7.   The Act amended                           6
8.   Second Schedule amended -- rate changes    6
9.   Application provision                     7




                          352--1               page i
                           Western Australia


                     LEGISLATIVE ASSEMBLY



   Revenue Laws Amendment (Tax Relief) Bill
                 (No. 2) 2004


                               A Bill for


An Act to amend the --
•  Land Tax Act 2002;
•  Pay-roll Tax Act 2002; and
•  Stamp Act 1921,
and for related purposes.



The Parliament of Western Australia enacts as follows:




                                                         page 1
    Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
    Part 1        Preliminary

    s. 1



                           Part 1 -- Preliminary
    1.       Short title
             This Act may be cited as the Revenue Laws Amendment (Tax
             Relief) Act (No. 2) 2004.

5   2.       Commencement
             This Act comes into operation on the day on which it receives the
             Royal Assent.




    page 2
                   Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
                             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*.
          [* Act No. 51 of 2002.
5            For subsequent amendments see Western Australian
             Legislation Information Tables for 2003, Table 1, p. 208 and
             Act No 11 of 2004.]

     4.   Section 5 amended
          Section 5 is amended as follows:
10          (a) by deleting from the heading to Table 3 "and subsequent
                 financial years";
           (b) by inserting after Table 3 the following Table --
           "
                  Table 4: Land tax rates for 2005/06 and subsequent
                                     financial years
                   Unimproved value of
                          the land
                  Exceeding        Not            Rate of land tax
                      ($)       exceeding
                                   ($)
                  0             100 000     Nil
                  100 000       220 000     0.15 cent for each $1 in
                                            excess of $100 000
                  220 000       570 000     $180.00 + 0.45 cent for
                                            each $1 in excess of
                                            $220 000
                  570 000       2 000 000 $1 755.00 + 1.76 cents for
                                            each $1 in excess of
                                            $570 000




                                                                   page 3
Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
Part 2        Land Tax Act 2002 amended

s. 4



                2 000 000    5 000 000   $26 923.00 + 2.30 cents for
                                         each $1 in excess of
                                         $2 000 000
                5 000 000                $95 923.00 + 2.50 cents for
                                         each $1 in excess of
                                         $5 000 000
                                                                       ".




page 4
                             Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
                                             Pay-roll Tax Act 2002          Part 3

                                                                                    s. 5



                           Part 3 -- Pay-roll Tax Act 2002
     5.             The Act amended
                    The amendments in this Part are to the Pay-roll Tax Act 2002*.
                    [* Act No. 47 of 2002.
5                      For subsequent amendments see Western Australian
                       Legislation Information Tables for 2003, Table 1, p. 281.]

     6.             Section 5 amended
          (1)       Section 5 is amended by deleting "Pay-roll tax" and inserting
                    instead --
10              "
                    (1)   Pay-roll tax on wages paid or payable before
                          1 January 2005
                                                                                     ".
          (2)       At the end of section 5 the following subsection is inserted --
15              "
                    (2)   Pay-roll tax on wages paid or payable on or after
                          1 January 2005 is imposed at the rate of 5.5%.
                                                                                     ".




                                                                              page 5
     Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
     Part 4        Stamp Act 1921 amended

     s. 7



                    Part 4 -- Stamp Act 1921 amended
     7.         The Act amended
                The amendments in this Part are to the Stamp Act 1921*.
                [* Reprint 14 as at 12 September 2003.
5                  For subsequent amendments see Western Australian
                   Legislation Information Tables for 2003, Table 1, p. 365 and
                   Acts Nos. 56, 59 and 66 of 2003 and 11 and 12 of 2004.]

     8.         Second Schedule amended -- rate changes
          (1)   The amendments in this section are to the Second Schedule.
10        (2)   Item 4(1)(a) is amended by deleting "$2.20" and inserting
                instead --
                "   $2.00   ".
          (3)   Item 4(1)(b) is amended by deleting "$1 760 and $3.30" and
                inserting instead --
15              "   $1 600 and $3.00 ".
          (4)   Item 4(1)(c) is amended by deleting "$2 420 and $4.50" and
                inserting instead --
                "   $2 200 and $4.00    ".
          (5)   Item 4(1)(d) is amended by deleting "$9 170 and $5.60" and
20              inserting instead --
                "   $8 200 and $5.00    ".
          (6)   Item 4(1)(e) is amended by deleting "$23 170 and $6.00" and
                inserting instead --
                "   $20 700 and $5.40     ".
25        (7)   Item 4(2)(a) is amended by deleting "$220 000" and inserting
                instead --
                "   $250 000     ".

     page 6
                             Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
                                          Stamp Act 1921 amended            Part 4

                                                                               s. 9



           (8)   Item 4(2)(b) is amended as follows:
                   (a) by deleting "$220 000", in both places where it occurs,
                        and inserting instead --
                        " $250 000 ";
5                  (b) by deleting "$300 000" and inserting instead --
                        " $350 000 ";
                   (c) by deleting "$14.96" and inserting instead --
                        " $13.20 ".
           (9)   Item 4(3)(a) is amended by deleting "$100 000" and inserting
10               instead --
                 "   $150 000      ".
          (10)   Item 4(3)(b) is amended as follows:
                   (a) by deleting "$100 000", in both places where it occurs,
                        and inserting instead --
15                      " $150 000 ";
                   (b) by deleting "$150 000" and inserting instead --
                        " $200 000 ";
                   (c) by deleting "$9.34" and inserting instead --
                        " $12.40 ".
20        (11)   Item 4(5)(b) is amended by deleting "$5.42" and inserting
                 instead --
                 "   $4.70    ".

     9.          Application provision
           (1)   In this section --
25               "conveyance or transfer" of property includes a contract,
                      agreement or other instrument that is chargeable with duty
                      as a conveyance or transfer of property;
                 "duty" means duty payable under the Stamp Act 1921;


                                                                             page 7
     Revenue Laws Amendment (Tax Relief) Bill (No. 2) 2004
     Part 4        Stamp Act 1921 amended

     s. 9



              "existing instrument" means a conveyance or transfer of
                  property (the "dutiable property") that was first executed
                  before 29 October 2004;
              "former provisions" means provisions of the Stamp Act 1921
5                 that are amended by this Part, as those provisions were
                  enacted at any time before 29 October 2004.
        (2)   Despite the amendments made by this Part, former provisions
              that applied in relation to an existing instrument before
              29 October 2004 --
10              (a) continue to apply in relation to the existing instrument;
                      and
                (b) if an instrument first executed on or after 29 October
                      2004 replaces the existing instrument, apply in relation
                      to the replacement instrument to the extent to which it is
15                    a conveyance or transfer of the dutiable property.
        (3)   Subject to subsection (2)(b), the provisions of the Stamp
              Act 1921 as amended by this Part apply in relation to a
              conveyance or transfer of property first executed on or after
              29 October 2004.




 


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