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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
State Revenue Legislation Amendment Bill
2016
Explanatory note
This explanatory note relates to this Bill as introduced into Parliament.
Overview of Bill
The objects of this Bill are as follows:
(a) to amend the Duties Act 1997:
(i) to make further provision relating to exemptions from duty for corporate
reconstruction transactions, and
(ii) to provide for a reduction in duty on agreements for the sale or transfer of securities
where a transfer to which the agreement applies is a corporate consolidation
transaction, and
(iii) to make other amendments in the nature of statute law revision,
(b) to amend the First Home Owner Grant (New Homes) Act 2000 to extend the availability of
the first home owner grant in cases where the new home being purchased or built is a
substantially renovated home or a home built to replace demolished premises,
(c) to amend the Land Tax Management Act 1956 to make further provision in relation to the
application of the principal place of residence exemption to unoccupied land intended to be
the owner's principal place of residence,
(d) to amend the Payroll Tax Act 2007:
(i) to extend an exemption from payroll tax applying to wages paid by a wholly-owned
subsidiary of a local council to wages paid by a body corporate wholly owned by 2 or
more local councils, and
(ii) to make other amendments in the nature of statute law revision,
b2016-049.d09a
State Revenue Legislation Amendment Bill 2016 [NSW]
Explanatory note
(e) to amend the Taxation Administration Act 1996 to extend a requirement for the Chief
Commissioner of State Revenue (the Chief Commissioner) to pay interest on a refund made
to a taxpayer (following a successful objection or review) to members of a group to which
the taxpayer belongs under the Land Tax Management Act 1956 or the Payroll Tax Act
2007,
(f) to amend the Unclaimed Money Act 1995:
(i) to enable the Chief Commissioner to accept payment of amounts that are not
unclaimed money for the purposes of that Act (because they are $100 or less) and to
enable owners to recover those amounts, and
(ii) to enable the owner of unclaimed money that has been paid to the Chief
Commissioner to apply for that money to be repaid even though the right to the
money has been extinguished, and
(iii) to make other amendments in the nature of statute law revision.
Outline of provisions
Clause 1 sets out the name (also called the short title) of the proposed Act.
Clause 2 provides for the commencement of the proposed Act.
Clause 3 provides that explanatory notes in the Schedules do not form part of the proposed Act.
Schedules 1-6 make the amendments outlined in the Overview. The amendments are explained
in detail in the explanatory notes set out in the Schedules.
Page 2
First print
New South Wales
State Revenue Legislation Amendment Bill
2016
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Explanatory notes 2
Schedule 1 Amendment of Duties Act 1997 No 123 3
Schedule 2 Amendment of First Home Owner Grant (New Homes) Act 2000
No 21 5
Schedule 3 Amendment of Land Tax Management Act 1956 No 26 6
Schedule 4 Amendment of Payroll Tax Act 2007 No 21 8
Schedule 5 Amendment of Taxation Administration Act 1996 No 97 10
Schedule 6 Amendment of Unclaimed Money Act 1995 No 75 11
b2016-049.d09a
New South Wales
State Revenue Legislation Amendment Bill
2016
No , 2016
A Bill for
An Act to make miscellaneous changes to certain State revenue legislation.
State Revenue Legislation Amendment Bill 2016 [NSW]
The Legislature of New South Wales enacts: 1
1 Name of Act 2
This Act is the State Revenue Legislation Amendment Act 2016. 3
2 Commencement 4
(1) This Act commences on the date of assent to this Act, except as provided by 5
subsections (2) and (3). 6
(2) Schedule 1 (other than Schedule 1 [1]) is taken to have commenced on the day on 7
which the Bill for this Act was first introduced into Parliament. 8
(3) Schedules 1 [1] and 2 commence, or are taken to have commenced, on 1 July 2016. 9
3 Explanatory notes 10
The matter appearing under the heading "Explanatory note" in any of the Schedules 11
does not form part of this Act. 12
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State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 1 Amendment of Duties Act 1997 No 123
Schedule 1 Amendment of Duties Act 1997 No 123 1
[1] Section 80A Definitions 2
Omit the definition of substantially renovated home. Insert instead: 3
substantially renovated home has the same meaning as in the First Home 4
Owner Grant (New Homes) Act 2000. 5
[2] Chapter 11, heading 6
Omit "from duty". Insert instead "and concessions". 7
[3] Section 273A Definitions 8
Omit section 273A (2). Insert instead: 9
(2) A reference in this Part to anything done by or held by a unit trust scheme 10
(including any voting control held by a unit trust scheme): 11
(a) is a reference to anything done by or held by a trustee of the unit trust 12
scheme as trustee of that unit trust scheme, and 13
(b) in the case of a unit trust scheme that is a managed investment scheme-- 14
includes a reference to anything done by or held by a custodian of the 15
trustee of the managed investment scheme as custodian of the trustee of 16
that scheme. 17
[4] Section 273BA 18
Insert after section 273B: 19
273BA Concession for agreements connected to corporate consolidation 20
transactions 21
(1) Duty chargeable under this Act on an agreement for the sale or transfer of 22
securities is to be reduced if the Chief Commissioner is satisfied that any 23
transfer to which the agreement applies is a corporate consolidation 24
transaction. 25
(2) The dutiable value of the agreement is, for the purposes of charging duty under 26
this Act, to be reduced by the dutiable value of the transfer that the Chief 27
Commissioner is satisfied is a corporate consolidation transaction. 28
(3) Section 273 does not apply to the agreement. 29
[5] Section 273D Corporate consolidation transaction 30
Omit "dutiable transaction or an acquisition of an interest in a landholder (within the 31
meaning of Chapter 4)" from section 273D (1). 32
Insert instead "transfer, or an acquisition of an interest in a landholder (within the meaning 33
of Chapter 4),". 34
[6] Section 273D (1) (b) 35
Omit the paragraph. Insert instead: 36
(b) is any of the following: 37
(i) a transfer of securities of the affected corporation to, or an 38
acquisition of those securities by, the head corporation for which 39
the only consideration given by the head corporation is the issue 40
or transfer of its securities to the person from whom the affected 41
corporation's securities were transferred or acquired, 42
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State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 1 Amendment of Duties Act 1997 No 123
(ii) a transfer of securities of the head corporation to, or an 1
acquisition of those securities by, a holder of securities of the 2
affected corporation. 3
[7] Section 273D (2) and (3) 4
Omit "dutiable transaction or an acquisition of an interest in a landholder" wherever 5
occurring. 6
Insert instead "transfer, or an acquisition of an interest in a landholder,". 7
[8] Section 273D (2) 8
Omit "the transaction or acquisition". Insert instead "the transfer or acquisition". 9
[9] Section 273E Meaning of "corporate group" 10
Omit section 273E (5). Insert instead: 11
(5) A transaction between: 12
(a) the trustee of a corporation that is a unit trust scheme, acting as trustee 13
of the scheme, and 14
(b) another corporation that is a member of the same corporate group as the 15
unit trust scheme (including, if that other corporation is a unit trust 16
scheme, a trustee acting as trustee of that scheme), 17
is taken, for the purposes of a corporate reconstruction transaction, to be a 18
transaction between the corporations as members of the same group. 19
(5A) A reference in subsection (5) to a trustee includes, in the case of a trustee of a 20
unit trust scheme that is a managed investment scheme, a reference to a 21
custodian of the trustee of the scheme acting as custodian of the trustee of that 22
scheme. 23
Explanatory note 24
Item [1] of the proposed amendments to the Duties Act 1997 makes an amendment that is 25
consequential on item [1] of the proposed amendments to the First Home Owner Grant (New Homes) 26
Act 2000 in Schedule 2. 27
Part 1 of Chapter 11 of the Duties Act 1997 provides for exemptions from duty for corporate 28
reconstruction transactions and corporate consolidation transactions, including transactions involving 29
unit trust schemes. References in the Part to anything done by or held by a unit trust scheme are 30
references to anything done by or held by a trustee of the unit trust scheme as trustee. Items [3] and 31
[9] extend those references, in the case of a unit trust scheme that is a managed investment scheme, 32
to ensure that they include a custodian of the trustee of the managed investment scheme. 33
Item [4] provides for a new duty concession on an agreement for the sale or transfer of securities if 34
the Chief Commissioner of State Revenue is satisfied that any transfer to which the agreement 35
applies is a corporate consolidation transaction. Item [2] makes a consequential amendment. 36
Items [5]-[8] make amendments in the nature of statute law revision. 37
Page 4
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 2 Amendment of First Home Owner Grant (New Homes) Act 2000 No 21
Schedule 2 Amendment of First Home Owner Grant (New 1
Homes) Act 2000 No 21 2
[1] Section 4A New homes 3
Omit section 4A (2) and (3). Insert instead: 4
(2) A substantially renovated home is a home that: 5
(a) has been created through renovations in which all, or substantially all, 6
of a building is removed or replaced (whether or not the renovations 7
involve the removal or replacement of foundations, external walls, 8
interior supporting walls, floors or staircases), and 9
(b) as renovated, has not been previously occupied or sold as a place of 10
residence. 11
(3) A home is a home built to replace demolished premises if: 12
(a) the home has been built to replace demolished premises on the same 13
land, and 14
(b) the home, as built to replace the demolished premises, has not been 15
previously occupied or sold as a place of residence, and 16
(c) the owner of the home did not occupy the demolished premises as a 17
place of residence before they were demolished. 18
[2] Schedule 1 Savings, transitional and other provisions 19
Insert after Part 12: 20
Part 13 Provisions consequent on enactment of State 21
Revenue Legislation Amendment Act 2016 22
21 Application of amendment 23
(1) The amendment to section 4A made by the State Revenue Legislation 24
Amendment Act 2016 extends to an application for a first home owner grant 25
made before the commencement of that amendment that, immediately before 26
that commencement, had not been finally determined. 27
(2) For the purposes of this clause, an application is not finally determined if: 28
(a) any period for bringing an appeal as of right against a decision in respect 29
of the application has not expired (ignoring any period that may be 30
available by way of extension of time to appeal), or 31
(b) any appeal against the decision is pending (whether or not it is an appeal 32
brought as of right). 33
(3) In this clause, a reference to an appeal includes a reference to an administrative 34
review by the Civil and Administrative Tribunal under the Administrative 35
Decisions Review Act 1997. 36
Explanatory note 37
The first home owner grant scheme under the First Home Owner Grant (New Homes) Act 2000 38
applies in relation to new homes, including substantially renovated homes and homes built to replace 39
demolished premises. Item [1] of the proposed amendments to that Act replaces the definitions of 40
substantially renovated home and home built to replace demolished premises, removing the 41
current requirement for the sale of the home to be a taxable supply under the A New Tax System 42
(Goods and Services Tax) Act 1999 of the Commonwealth. Item [1] of the proposed amendments to 43
the Duties Act 1997 in Schedule 1 makes a consequential amendment to that Act. 44
Item [2] makes an amendment of a transitional nature consequent on the enactment of the 45
amendment proposed to be made by item [1]. 46
Page 5
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 3 Amendment of Land Tax Management Act 1956 No 26
Schedule 3 Amendment of Land Tax Management Act 1956 1
No 26 2
[1] Schedule 1A Principal place of residence exemption 3
Omit clause 6 (3) (b). Insert instead: 4
(b) if, after the person became owner and before the building or other works 5
physically commence, the land is used and occupied for residential 6
purposes by another person--4 tax years immediately following the tax 7
year in which the other person ceases to use and occupy the land for 8
those purposes. 9
[2] Schedule 1A, clause 6 (4) 10
Insert after clause 6 (3): 11
(4) Without limiting subclause (3) (a): 12
(a) this clause does not apply in respect of the assessment of a person's 13
ownership of land in a period referred to in subclause (3) (b) unless the 14
Chief Commissioner is satisfied that, by the end of the first of the 4 tax 15
years concerned: 16
(i) the building or other works will be, or have been, physically 17
commenced, or 18
(ii) significant steps will be, or have been, taken to enable those 19
works to physically commence, and 20
(b) if the building or other works are not physically commenced by the end 21
of that tax year (or the Chief Commissioner is not satisfied that, by the 22
end of that tax year, significant steps have been taken to enable those 23
works to physically commence): 24
(i) the principal place of residence exemption applying by operation 25
of this clause to the land is taken not to have applied to the land 26
in respect of that tax year (unless subclause (3) (a) applied to the 27
assessment in that tax year), and 28
(ii) land tax liability is to be assessed or reassessed accordingly. 29
[3] Schedule 1A, clause 6 (6A) 30
Insert after clause 6 (6): 31
(6A) For the purposes of section 9 (3) (c) of the Taxation Administration Act 1996, 32
any reassessment under this clause is authorised to be made more than 5 years 33
after the initial assessment. 34
[4] Schedule 2 Savings and transitional provisions 35
Insert after Part 28: 36
Part 29 Provisions consequent on enactment of State 37
Revenue Legislation Amendment Act 2016 38
59 General application of amendments 39
The amendments made to this Act by the State Revenue Legislation 40
Amendment Act 2016 apply to the assessment of land tax liability in respect of 41
the 2017 land tax year and subsequent land tax years. 42
Page 6
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 3 Amendment of Land Tax Management Act 1956 No 26
Explanatory note 1
Clause 6 of Schedule 1A to the Land Tax Management Act 1956 (the LTM Act) enables the owner 2
of unoccupied land to claim the land as his or her principal place of residence (PPR), for the purposes 3
of the PPR exemption, if the owner intends to use and occupy the land as his or her PPR and intends 4
to carry out, or is carrying out, building or other works necessary to facilitate that use and occupation. 5
The period during which unoccupied land may be assessed as a PPR under clause 6 is limited to: 6
(a) 4 tax years immediately following the year in which the owner became owner of the land, or 7
(b) if the land is used and occupied for residential purposes by a person other than the owner (for 8
example, a tenant) at any time after the owner became the owner--4 tax years immediately 9
following the tax year in which the works are physically commenced on the land. 10
Item [1] of the proposed amendments to the LTM Act changes the period applying if the land is used 11
and occupied by a person other than the owner to a period of 4 tax years immediately following the 12
tax year in which the person ceases to use and occupy the land for residential purposes. 13
Item [2] ensures that, if the land is used and occupied by a person other than the owner after the 14
owner became the owner, the owner is only entitled to claim the unoccupied land as his or her PPR 15
if the Chief Commissioner of State Revenue is satisfied that, by the end of the first of the 4 tax years 16
concerned, the works will be, or have been, physically commenced (or significant steps will be, or 17
have been, taken to enable those works to physically commence). 18
Item [2] also ensures that, if the works have not physically commenced by the end of that first tax year 19
(or the Chief Commissioner is not satisfied that, by the end of that first tax year, significant steps 20
enabling the works to physically commence have been taken), the PPR exemption can be taken not 21
to have applied. Land tax liability is to be assessed or reassessed accordingly. 22
Item [3] authorises any reassessment under clause 6 of Schedule 1A to the LTM Act to be made more 23
than 5 years after the initial assessment of liability to pay land tax. Generally, the Taxation 24
Administration Act 1996 prevents the Chief Commissioner from making a reassessment of a tax 25
liability more than 5 years after the initial assessment of the liability. Item [3] will particularly assist in 26
ensuring land tax is recovered in the case of a PPR exemption that is revoked under clause 6 (5) of 27
Schedule 1A to the LTM Act. Clause 6 (5) revokes any PPR exemption applying because a person 28
has claimed unoccupied land as his or her PPR if the person fails to actually use and occupy the land 29
as his or her PPR by the end of the applicable 4 tax years (and to continue to do so for a period of at 30
least 6 months). 31
Item [4] makes an amendment of a transitional nature consequent on the enactment of the other 32
amendments proposed to be made by Schedule 3. 33
Page 7
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 4 Amendment of Payroll Tax Act 2007 No 21
Schedule 4 Amendment of Payroll Tax Act 2007 No 21 1
[1] Section 59 Local government business entities 2
Omit section 59 (1) (a). Insert instead: 3
(a) by a wholly-owned subsidiary of a council or of 2 or more councils, and 4
[2] Section 59 (1) (b) and (2) 5
Insert "or councils" after "the council" wherever occurring. 6
[3] Section 59 (3) and (4) 7
Insert after section 59 (2): 8
(3) In this section: 9
council has the same meaning as in the Local Government Act 1993. 10
wholly-owned subsidiary has the same meaning as in the Corporations Act 11
2001 of the Commonwealth. 12
(4) In this section, a reference to a wholly-owned subsidiary of 2 or more councils 13
is a reference to a body corporate that, if the councils were a single council, 14
would be a wholly-owned subsidiary of the single council. 15
[4] Schedule 2 NSW specific provisions 16
Omit "Director-General of the Department of Education and Training" wherever occurring 17
in clauses 5 (5) (c) and 6 (1) (a) and (b). 18
Insert instead "Secretary of the Department of Education". 19
[5] Schedule 2, clause 9 20
Omit "staff employed under Chapter 1A of the Public Sector Employment and Management 21
Act 2002 in the Government Service to enable the Home Care Service to exercise its 22
functions". 23
Insert instead "members of staff of the Home Care Service". 24
[6] Schedule 2, clause 10 25
Omit "Director-General of the Department of Health". Insert instead "Health Secretary". 26
[7] Schedule 2, clause 10 (2) 27
Insert at the end of clause 10: 28
(2) In this clause: 29
Health Secretary has the same meaning as in the Health Services Act 1997. 30
[8] Schedule 2, clause 14 31
Omit the clause. Insert instead: 32
14 Application of Act to certain Public Service agencies 33
(1) This clause applies in relation to any Public Service agency in which staff are 34
employed under Part 4 of the Government Sector Employment Act 2013 to 35
enable a statutory body to exercise its functions. 36
(2) For the purposes of this Act, each Public Service agency to which this clause 37
applies is taken to be a separate employer with respect to the matters specified 38
in subclause (3). If the agency concerned comprises separate parts each of 39
Page 8
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 4 Amendment of Payroll Tax Act 2007 No 21
which is assigned to a different statutory body, each such part of the agency is 1
taken to be a separate employer with respect to the matters specified in 2
subclause (3) in so far as they relate to that part. 3
(3) The matters that are specified for the purposes of subclause (2) are as follows: 4
(a) the wages paid or payable to the staff of the agency or part of the 5
agency, 6
(b) any fees or other remuneration paid or payable to the members of the 7
board or other governing body of the statutory body to which the staff 8
of the agency (or part of the agency) are assigned, 9
(c) any amount paid or payable under a relevant contract (within the 10
meaning of Division 7 of Part 3 of this Act) entered into by the statutory 11
body concerned. 12
(4) In this clause: 13
Public Service agency has the same meaning as in the Government Sector 14
Employment Act 2013. 15
Explanatory note 16
Section 59 of the Payroll Tax Act 2007 exempts a wholly-owned subsidiary of a local council from 17
liability to pay payroll tax on wages that are paid or payable to a person for an activity conducted for 18
the council. Items [1]-[3] of the proposed amendments to that Act extend that exemption to a body 19
corporate wholly owned by 2 or more local councils if the wages are paid or payable to a person for 20
an activity conducted for those councils. 21
Items [4]-[8] make amendments in the nature of statute law revision that are consequent on the 22
enactment of the Government Sector Employment Act 2013. 23
Page 9
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 5 Amendment of Taxation Administration Act 1996 No 97
Schedule 5 Amendment of Taxation Administration Act 1996 1
No 97 2
[1] Section 105 Payment of interest 3
Insert at the end of the section: 4
(2) The requirement under this section to pay interest on an amount refunded to 5
the taxpayer extends, subject to section 19, to an amount of land tax or payroll 6
tax paid by and refunded to any other member of a group to which the taxpayer 7
belongs if: 8
(a) (as a consequence of the objection of the taxpayer being allowed in 9
whole or in part or the review being successful) the Chief 10
Commissioner makes a reassessment of the amount of land tax or 11
payroll tax the other member of the group is liable to pay, and 12
(b) the reassessment shows that the other member of the group is entitled to 13
the refund. 14
(3) In this section: 15
group has the same meaning as in: 16
(a) section 29 (7) of the Land Tax Management Act 1956, in the case of land 17
tax, or 18
(b) the Payroll Tax Act 2007, in the case of payroll tax. 19
land tax has the same meaning as in the Land Tax Management Act 1956. 20
payroll tax has the same meaning as in the Payroll Tax Act 2007. 21
[2] Schedule 1 Savings, transitional and other provisions 22
Insert after Part 13: 23
Part 14 Provisions arising from enactment of State 24
Revenue Legislation Amendment Act 2016 25
43 Requirement to pay interest on refund to member of group 26
Section 105 (2) and (3), as inserted by the State Revenue Legislation 27
Amendment Act 2016, extend to an amount of land tax or payroll tax paid by a 28
taxpayer before the commencement of those provisions (but do not apply in 29
relation to a reassessment that is made before the commencement of those 30
provisions of the amount of land tax or payroll tax the taxpayer is liable to 31
pay). 32
Explanatory note 33
The Taxation Administration Act 1996 requires the Chief Commissioner of State Revenue to pay 34
interest on an amount refunded to a taxpayer following a successful objection or review. Item [1] of 35
the proposed amendments to that Act extends that requirement to any other member of a group to 36
which the taxpayer belongs under the Land Tax Management Act 1956 or the Payroll Tax Act 2007 37
if, as a result of that successful objection or review, the Chief Commissioner makes a reassessment 38
to refund land tax or payroll tax to the other member of the group. 39
Item [2] makes an amendment of a savings and transitional nature consequent on the enactment of 40
the amendment proposed to be made by item [1]. 41
Page 10
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 6 Amendment of Unclaimed Money Act 1995 No 75
Schedule 6 Amendment of Unclaimed Money Act 1995 No 75 1
[1] Section 3 Definitions 2
Omit ", 13B or 13BA" from the definition of return. Insert instead "or 13B". 3
[2] Section 10 Return and payment of unclaimed money to Chief Commissioner 4
Insert after section 10 (1A): 5
(1AA) An enterprise may include, in any return that it is required to lodge under this 6
section, particulars of money that is not unclaimed money because it does not 7
exceed $100 and section 9 (3) (c) applies to it. In any such case, the money is 8
to be treated as unclaimed money for the purposes of this Part (other than 9
subsections (1) and (1A) and section 12 (1)) and Parts 4 and 5. 10
[3] Section 12 Publication of information relating to unclaimed money 11
Omit section 12 (1A) (a). Insert instead: 12
(a) the existence of each sum of unclaimed money that: 13
(i) does not exceed $100 and is specified in a return under 14
section 10 (1AA) and paid to the Chief Commissioner, or 15
(ii) is paid to the Treasurer under section 14 of the Legal Profession 16
Uniform Law Application Act 2014 or section 26 of the Trustee 17
Companies Act 1964 (which relate to unclaimed money), 18
[4] Section 18 Time for application 19
Insert at the end of the section: 20
(2) The Chief Commissioner may permit an application in accordance with 21
section 17 to be lodged after the owner's right to the money has been 22
extinguished. 23
[5] Section 26A Recovery of money wrongly paid 24
Omit "Limitation Act 1969.)" from section 26A (1). Insert instead "Limitation Act 1969).". 25
[6] Schedule 2 Savings, transitional and other provisions 26
Insert after Part 9: 27
Part 10 Provisions consequent on enactment of State 28
Revenue Legislation Amendment Act 2016 29
18 Time for application 30
Section 18 (2), as inserted by the State Revenue Legislation Amendment Act 31
2016, extends to money paid to the Chief Commissioner before the 32
commencement of that provision. 33
Explanatory note 34
The Unclaimed Money Act 1995 (the Act) requires enterprises holding unclaimed money on 30 June 35
of each year to lodge a return relating to that money with the Chief Commissioner of State Revenue. 36
Item [2] of the proposed amendments to the Act enables an enterprise to voluntarily report, in any 37
such return, amounts that are not unclaimed money for the purposes of the Act because they are $100 38
or less. Item [2] also ensures that, if an enterprise chooses to report any such amount in a return, the 39
amount must be paid to the Chief Commissioner for payment into the Consolidated Fund and that 40
other provisions applying to unclaimed money under the Act apply to the amount (including 41
record-keeping requirements and provisions allowing owners to recover unclaimed money that has 42
been paid to the Chief Commissioner). Item [3] makes a consequential amendment. 43
Page 11
State Revenue Legislation Amendment Bill 2016 [NSW]
Schedule 6 Amendment of Unclaimed Money Act 1995 No 75
Item [4] enables the Chief Commissioner to permit the owner of unclaimed money that has been paid 1
to the Chief Commissioner to apply for that money to be repaid to the owner even though the owner's 2
right to the money has been extinguished. 3
Items [1] and [5] make amendments in the nature of statute law revision. 4
Item [6] makes an amendment of a transitional nature consequent on the enactment of the 5
amendment proposed to be made by item [4]. 6
Page 12
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