State Taxation Acts (General Amendment) Act 2005

i State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 TABLE OF PROVISIONS Section Page PART 1—PRELIMINARY 1 1. Purposes 1 2. Commencement 3 PART 2—BUSINESS FRANCHISE (PETROLEUM PRODUCTS) ACT 1979 4 3. Better Roads Victoria Trust Account 4 PART 3—DEBITS TAX ACT 1990 5 4. New section 22 inserted 5 22. Liability to debits tax discontinued 5 5. Returns 5 PART 4—DUTIES ACT 2000 6 6. Definition 6 7. Consequential repeals 6 8. Interdependent sale of land and business goods 6 9. Sub sales of land 6 10. New Part 4A inserted in Chapter 2 6 PART 4A—TRANSACTIONS TREATED AS SUB-SALES OF LAND 6 Division 1—Introduction 6 32A. Definitions 6 Division 2—Transfers Involving Additional Consideration 9 32B. Application of Division 9 32C. How duty is charged on transfer 11 32D. Dutiable value of transactions 12 32E. When does the liability to duty arise? 13 32F. Who is liable to pay the duty? 13 32G. Exemptions and concessions 14 32H. No double duty 14 -- 1 of 72 -- Section Page ii Division 3—Transfers Involving Land Development 15 32I. Application of Division 15 32J. How duty is charged on transfer 16 32K. Dutiable value of transactions 17 32L. When does the liability to duty arise? 18 32M. Who is liable to pay the duty? 19 32N. Exemptions and concessions 19 32O. No double duty 20 Division 4—Transfers Resulting from Options 20 32P. Application of Division 20 32Q. How duty is charged on transfer 21 32R. Dutiable value of transactions 22 32S. When does the liability to duty arise? 24 32T. Who is liable to pay the duty? 24 32U. Exemptions and concessions 24 Division 5—Miscellaneous 25 32V. Provisions for determining consideration 25 32W. No duty for transactions between relatives 28 32X. Parties required to provide information to Commissioner 29 11. Repeal of certain exemptions 30 12. Extension of temporary suspension of first home owner exemption or concession 30 13. Land rich provisions 30 14. New section 89PA inserted 31 89PA. Registration of declared wholesale unit trust schemes 31 15. Further provisions for declared wholesale unit trust schemes 31 16. New section 125A inserted 32 125A. Hire of goods duty abolished from January 2007 32 17. Consequential amendments on abolition of hire of goods duty 32 18. Repeal of motor vehicle exemption 33 19. Corporate reconstructions 33 20. New Division 1A inserted in Part 2 of Chapter 11 34 Division 1A—Corporate Consolidation Exemption 34 250DA. Definitions 34 250DB. What is a corporate consolidation? 34 250DC. What is an eligible transaction? 35 250DD. Exemption for certain transactions arising out of corporate consolidation 37 250DE. Conditions of exemption 39 250DF. Revocation of exemption 39 250DG. Special provision in relation to land-rich duty for private unit trust scheme consolidations 41 -- 2 of 72 -- Section Page iii 21. Further corporate reconstruction amendments 42 22. Transitional provisions 42 21. State Taxation Acts (General Amendment) Act 2005 42 PART 5—FIRST HOME OWNER GRANT ACT 2000 45 23. Extension of additional amount of grant 45 PART 6—LAND TAX ACT 1958 46 24. Definitions 46 25. Minimum assessment 47 26. Exemption for residential care facilities and supported residential services (from January 2004) 48 27. Exemption for caravan parks (from January 2005) 48 28. New section 9A inserted (from January 2004) 49 9A. Rooming house exemption 49 29. Special land tax 51 30. Principal place of residence exemption 51 31. New sections 72 and 73 substituted, 73A and 73B inserted 52 72. Power to require information, documents and things, and attendance 52 73. Powers of Supreme Court if non-compliance with section 72 54 73A. Power of entry 55 73B. Self-incrimination 57 32. New tax rates and rebates 57 6A. Rebate of 2005 land tax 57 7. Land tax for 2006 59 8. Land tax for 2007 61 9. Land tax for 2008 and subsequent years 62 PART 7—PAY-ROLL TAX ACT 1971 64 33. Employment agents 64 34. Exemption for wages paid by school councils (from July 2004) 64 PART 8—TAXATION ADMINISTRATION ACT 1997 65 35. Interest rate 65 36. Penalty tax 65 37. Secrecy provisions 66 38. Valuation of foreign currency 66 -- 3 of 72 -- Section Page iv PART 9—TAXATION (INTEREST ON OVERPAYMENTS) ACT 1986 67 39. Interest rate 67 ═══════════════ ENDNOTES 68 -- 4 of 72 -- 1 State Taxation Acts (General Amendment) Act 2005 † [Assented to 28 June 2005] The Parliament of Victoria enacts as follows: PART 1—PRELIMINARY 1. Purposes The purposes of this Act are— (a) to amend the Business Franchise (Petroleum Products) Act 1979 to broaden the purposes of the Better Roads Victoria Trust Account; Victoria No. 36 of 2005 -- 5 of 72 -- Part 1—Preliminary State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 2 (b) to amend the Debits Tax Act 1990 to discontinue debits tax from 1 July 2005; (c) to amend the Duties Act 2000— (i) to discontinue hire of goods duty from 1 January 2007; (ii) to clarify the way certain transactions are chargeable with duty; (iii) to remove certain exemptions; (iv) to clarify the land-rich provisions; (v) to extend the corporate reconstruction exemption to corporate consolidations; (d) to amend the First Home Owner Grant Act 2000 to extend the period of the additional amount of the grant; (e) to amend the Land Tax Act 1958— (i) to revise the rates of land tax from 2006, provide a partial rebate of 2005 land tax and cap increases in land tax for 2006; (ii) to exempt privately-owned caravan parks, residential aged care facilities, supported residential services and certain rooming houses from land tax; (iii) to clarify the way refunds of land tax are calculated for land that becomes a principal place of residence; (iv) to align investigatory powers with those in the Taxation Administration Act 1997; (f) to amend the Pay-roll Tax Act 1971 to exempt wages paid by school councils from pay-roll tax; s. 1 -- 6 of 72 -- Part 1—Preliminary State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 3 (g) to amend the Taxation Administration Act 1997— (i) with respect to interest rates, exchange rates and penalty tax; (ii) to permit disclosure of information to the fire services; (h) to amend the Taxation (Interest on Overpayments) Act 1986 with respect to interest rates. 2. Commencement (1) This Act, except Parts 2, 3, 5 and 7 and sections 12, 13(1), 19, 20, 21, 24(2), 24(3), 26, 27, 28, 29 and 30, comes into operation on the day after the day on which it receives the Royal Assent. (2) Sections 24(3), 26, 28 and 29 (except sub- section (2)) are deemed to have come into operation on 1 January 2004. (3) Section 13(1) is deemed to have come into operation on 13 May 2004. (4) Part 7, except section 33, is deemed to have come into operation on 1 July 2004. (5) Sections 24(2), 27, 29(2), 30 and 33 are deemed to have come into operation on 1 January 2005. (6) Sections 19, 20 and 21 are deemed to have come into operation on 31 March 2005. (7) Parts 2, 3 and 5 and section 12 are deemed to have come into operation on 1 July 2005. __________________ s. 2 -- 7 of 72 -- Part 2—Business Franchise (Petroleum Products) Act 1979 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 4 PART 2—BUSINESS FRANCHISE (PETROLEUM PRODUCTS) ACT 1979 3. Better Roads Victoria Trust Account In section 13(3) of the Business Franchise (Petroleum Products) Act 1979, after "2004" insert ", road safety initiatives and traffic and transport integration programs,". __________________ See: Act No. 9272. Reprint No. 4 as at 19 March 1998 and amending Act Nos 103/1998, 6/2000 and 12/2004. LawToday: www.dms. dpc.vic. gov.au s. 3 -- 8 of 72 -- Part 3—Debits Tax Act 1990 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 5 PART 3—DEBITS TAX ACT 1990 4. New section 22 inserted After the heading to Part 8 of the Debits Tax Act 1990 insert— "22. Liability to debits tax discontinued Liability to pay debits tax on a taxable debit or eligible debit does not arise under this Act if the debit is made on or after 1 July 2005.". 5. Returns (1) After section 28(4) of the Debits Tax Act 1990 insert— "(5) Sub-section (1) does not require a return relating to any month after June 2005 to be lodged.". (2) After section 55(1) of the Debits Tax Act 1990 insert— "(2) Sub-section (1) does not require a return relating to an exempt account kept on or after 1 July 2005 to be lodged.". __________________ See: Act No. 78/1990. Reprint No. 2 as at 18 March 1999 and amending Act Nos 34/1999 and 47/1999. LawToday: www.dms. dpc.vic. gov.au s. 4 -- 9 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 6 PART 4—DUTIES ACT 2000 6. Definition In section 3(1) of the Duties Act 2000, in the definition of "wholesale unit trust scheme", for "or an imminent wholesale unit trust scheme" substitute ", an imminent wholesale unit trust scheme or a declared wholesale unit trust scheme". 7. Consequential repeals Sections 10(1)(f) and 21(2) of the Duties Act 2000 are repealed. 8. Interdependent sale of land and business goods In section 22B(6) of the Duties Act 2000, in the definition of "business goods", for "(iii) or (iv)" substitute "(iii), (iv) or (v)". 9. Sub sales of land Section 31 of the Duties Act 2000 is repealed. 10. New Part 4A inserted in Chapter 2 After Part 4 of Chapter 2 of the Duties Act 2000 insert— 'PART 4A—TRANSACTIONS TREATED AS SUB-SALES OF LAND Division 1—Introduction 32A. Definitions In this Part— "associate" of a person means— (a) an associated person of that person; or See: Act No. 79/2000. Reprint No. 4 as at 1 March 2005. LawToday: www.dms. dpc.vic. gov.au s. 6 -- 10 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 7 (b) a person acting in concert with that person; "consideration" means the amount of a monetary consideration or the value of a non-monetary consideration; "land development" means any one or more of the following in relation to land— (a) preparing a plan of subdivision of the land or taking any steps to have the plan registered under the Subdivision Act 1988; (b) applying for or obtaining a permit under the Planning and Environment Act 1987 in relation to the use or development of the land; (c) applying for or obtaining a permit or approval under the Building Act 1993 in relation to the land; (d) doing anything in relation to the land for which a permit or approval referred to in paragraph (c) would be required; (e) developing or changing the land in any other way that would lead to the enhancement of its value; s. 10 -- 11 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 8 "option" means— (a) a right, granted by an owner of property to another person, that entitles that other person, or a person to whom the right is assigned, to require the owner to— (i) enter into a contract of sale of the property to that other person or a subsequent assignee of that other person; or (ii) transfer the property to that other person or a subsequent assignee of that other person; or (b) a right, granted to an owner of property by another person, that entitles the owner to require that other person, or a person approved by the owner and nominated by that other person, to— (i) enter into a contract to buy the property from the owner; or (ii) accept a transfer of the property from the owner. s. 10 -- 12 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 9 Division 2—Transfers Involving Additional Consideration 32B. Application of Division (1) This Division applies to a transfer of dutiable property referred to in section 10(1)(a) or (d) if— (a) a person ("the vendor") enters into a contract ("the sale contract") to sell or transfer the property to another person ("the first purchaser"); and (b) a person other than the first purchaser ("a subsequent purchaser") obtains the right to have the property or any part of it transferred, on completion of the sale contract, to the subsequent purchaser ("transfer right"); and (c) the subsequent purchaser or an associate of the subsequent purchaser gives or agrees to give additional consideration in order for the subsequent purchaser to obtain the transfer right; and (d) the vendor transfers the property or any part of it to a subsequent purchaser. (2) It is immaterial whether a subsequent purchaser obtains a transfer right— (a) by way of an assignment, nomination, novation or otherwise; and (b) from the first purchaser or from another subsequent purchaser. (3) Each assignment, nomination, novation or other arrangement by which a subsequent purchaser obtains a transfer right is called a "subsequent transaction". s. 10 -- 13 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 10 (4) In this section— "additional consideration" for a transfer right means any consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right (other than reimbursement of excluded costs)— (a) if the subsequent purchaser obtained the transfer right from the first purchaser—that exceeds the consideration given or agreed to be given to the vendor by the first purchaser under the sale contract in respect of the property the subject of the transfer right; (b) if the subsequent purchaser obtained the transfer right from another subsequent purchaser— that exceeds the consideration given or agreed to be given by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right, to the extent that the consideration relates to the first- mentioned transfer right; "excluded costs" means— (a) legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges; (b) survey or valuation payments; s. 10 -- 14 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 11 (c) GST other than in circumstances where an input tax credit or reduced input tax credit is available; (d) any other costs that, in the Commissioner's opinion, were reasonably incurred— (i) if the subsequent purchaser obtained the transfer right from the first purchaser—by the first purchaser as part of the sale contract; (ii) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right. 32C. How duty is charged on transfer (1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on— (a) the dutiable value of the sale contract as if it had been completed by the first purchaser; and (b) the dutiable value of each subsequent transaction. (2) Duty is charged at the rate set out in Part 3 on the dutiable values referred to in sub- section (1). s. 10 -- 15 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 12 32D. Dutiable value of transactions (1) For the purposes of this Division, the dutiable value of the sale contract referred to in section 32C(1)(a) is the greater of— (a) the consideration given or agreed to be given under the sale contract; and (b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the sale contract was entered into. (2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32C(1)(b) is the greater of— (a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right under the transaction, other than— (i) legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges; (ii) survey or valuation payments; (iii) GST other than in circumstances where an input tax credit or reduced input tax credit is available; (iv) any other costs that, in the Commissioner's opinion, were reasonably incurred— s. 10 -- 16 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 13 (A) if the subsequent purchaser obtained the transfer right from the first purchaser—by the first purchaser as part of the sale contract; (B) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right; and (b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the subsequent transaction was entered into. 32E. When does the liability to duty arise? A liability for duty charged by this Division arises when the transfer occurs. 32F. Who is liable to pay the duty? (1) Duty charged by this Division is payable— (a) in the case of duty referred to in section 32C(1)(a)—by the first purchaser; (b) in the case of duty referred to in section 32C(1)(b)—by the subsequent purchaser who obtains a transfer right under the relevant subsequent transaction. s. 10 -- 17 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 14 (2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person. 32G. Exemptions and concessions (1) Duty is not chargeable under section 32C(1)(a) if the sale contract would be exempt from duty under this Chapter if it were a transfer of dutiable property to the first purchaser. (2) If the first purchaser would be entitled to a concession under this Chapter if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32C(1)(a). (3) Duty is not chargeable under section 32C(1)(b) if the subsequent transaction would be exempt from duty under this Chapter if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction. (4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32C(1)(b). 32H. No double duty Duty is not chargeable on a transfer under this Division if duty is chargeable on the transfer under Division 3 or 4. s. 10 -- 18 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 15 Division 3—Transfers Involving Land Development 32I. Application of Division (1) This Division applies to a transfer of dutiable property referred to in section 10(1)(a) or (d) if— (a) a person ("the vendor") enters into a contract ("the sale contract") to sell or transfer the property to another person ("the first purchaser"); and (b) a person other than the first purchaser ("a subsequent purchaser") obtains the right to have the property or any part of it transferred, on completion of the sale contract, to the subsequent purchaser ("transfer right"); and (c) after the sale contract is entered into, but before the property or any part of it is transferred, land development occurs in relation to the property or part; and (d) the vendor transfers the property or any part of it to a subsequent purchaser. (2) It is immaterial whether a subsequent purchaser obtains a transfer right— (a) by way of an assignment, nomination, novation or otherwise; and (b) from the first purchaser or from another subsequent purchaser. (3) Each assignment, nomination, novation or other arrangement by which a subsequent purchaser obtains a transfer right is called a "subsequent transaction". s. 10 -- 19 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 16 32J. How duty is charged on transfer (1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on— (a) the dutiable value of the sale contract as if it had been completed by the first purchaser; and (b) the dutiable value of each subsequent transaction. (2) Duty is charged at the rate set out in Part 3 on the dutiable values referred to in sub- section (1). (3) Despite sub-section (1), duty is not charged under this Division on the dutiable value of a sale contract if— (a) the consideration given or agreed to be given by the first purchaser under the sale contract included consideration for the land development; or (b) the land development did not occur until after a subsequent transaction occurred. (4) Sub-section (3)(a) does not apply if the first purchaser or an associate of the first purchaser undertook or participated in the land development at any time before a subsequent transaction occurred. (5) Despite sub-section (1), duty is not charged under this Division on the dutiable value of a subsequent transaction if— (a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to s. 10 -- 20 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 17 obtain a transfer right under the transaction included consideration for the land development; or (b) the land development did not occur at any time at which the subsequent purchaser held a transfer right. 32K. Dutiable value of transactions (1) For the purposes of this Division, the dutiable value of the sale contract referred to in section 32J(1)(a) is the greater of— (a) the consideration given or agreed to be given under the sale contract; and (b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date the sale contract was entered into. (2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32J(1)(b) is the greater of— (a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right under the transaction, other than— (i) legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges; (ii) survey or valuation payments; s. 11 -- 21 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 18 (iii) GST other than in circumstances where an input tax credit or reduced input tax credit is available; (iv) any other costs that, in the Commissioner's opinion, were reasonably incurred— (A) if the subsequent purchaser obtained the transfer right from the first purchaser—by the first purchaser as part of the sale contract; (B) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other subsequent purchaser to obtain a transfer right; and (b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date the subsequent transaction was entered into. 32L. When does the liability to duty arise? A liability for duty charged by this Division arises when the transfer occurs. s. 10 -- 22 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 19 32M. Who is liable to pay the duty? (1) Duty charged by this Division is payable— (a) in the case of duty referred to in section 32J(1)(a)—by the first purchaser; (b) in the case of duty referred to in section 32J(1)(b)—by the subsequent purchaser who obtains a transfer right under the relevant subsequent transaction. (2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person. 32N. Exemptions and concessions (1) Duty is not chargeable under section 32J(1)(a) if the sale contract would be exempt from duty under this Chapter if it were a transfer of dutiable property to the first purchaser. (2) If the first purchaser would be entitled to a concession under this Chapter if the sale contract were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32J(1)(a). (3) Duty is not chargeable under section 32J(1)(b) if the subsequent transaction would be exempt from duty under this Chapter if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction. s. 10 -- 23 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 20 (4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32J(1)(b). 32O. No double duty Duty is not chargeable on a transfer under this Division if duty is chargeable on the transfer under Division 4. Division 4—Transfers Resulting from Options 32P. Application of Division (1) This Division applies to a transfer of dutiable property referred to in section 10(1)(a) or (d) if— (a) the owner of the property ("the vendor") grants an option to, or is granted an option by, another person ("the first purchaser"); and (b) a person other than the first purchaser ("a subsequent purchaser") obtains the right or assumes the obligation to enter into a contract of sale of the property or any part of it with the vendor or to have the property or any part of it transferred to the subsequent purchaser ("transfer right"); and (c) after the option is granted, but before the property or any part of it is transferred, land development occurs in relation to the property or part; and (d) the vendor transfers the property or any part of it to a subsequent purchaser. s. 10 -- 24 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 21 (2) It is immaterial whether a subsequent purchaser obtains a transfer right— (a) by way of an assignment, nomination, novation, option, contract of sale or otherwise; and (b) from the first purchaser or from another subsequent purchaser. (3) Each assignment, nomination, novation, option, contract of sale or other arrangement by which a subsequent purchaser obtains a transfer right is called a "subsequent transaction". 32Q. How duty is charged on transfer (1) Duty on a transfer to which this Division applies is not charged in respect of the transfer from the vendor to the transferee, but is charged separately and distinctly on— (a) the dutiable value of the option; and (b) the dutiable value of each subsequent transaction. (2) Duty is charged at the rate set out in Part 3 on the dutiable values referred to in sub- section (1). (3) Despite sub-section (1), duty is not charged under this Division on the dutiable value of an option if— (a) the consideration given or agreed to be given by the first purchaser for the option (or for the sale or transfer contemplated by the option) included consideration for the land development; or s. 10 -- 25 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 22 (b) the land development did not occur until after a subsequent transaction occurred. (4) Sub-section (3)(a) does not apply if the first purchaser or an associate of the first purchaser undertook or participated in the land development at any time before a subsequent transaction occurred. (5) Despite sub-section (1), duty is not charged under this Division on the dutiable value of a subsequent transaction if— (a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain a transfer right under the transaction included consideration for the land development; or (b) the land development did not occur at any time at which the subsequent purchaser held a transfer right. 32R. Dutiable value of transactions (1) For the purposes of this Division, the dutiable value of the option referred to in section 32Q(1)(a) is the greater of— (a) the consideration that would need to be given to complete the sale or transfer contemplated by the option (including any consideration already given for the option); and (b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the option was granted. s. 10 -- 26 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 23 (2) For the purposes of this Division, the dutiable value of a subsequent transaction referred to in section 32Q(1)(b) is the greater of— (a) the consideration given or agreed to be given by the subsequent purchaser or an associate of the subsequent purchaser in order for the subsequent purchaser to obtain the transfer right under the transaction, other than— (i) legal costs or other fees or charges, including reasonable selling agents' fees and any statutory fees or charges; (ii) survey or valuation payments; (iii) GST other than in circumstances where an input tax credit or reduced input tax credit is available; (iv) any other costs that, in the Commissioner's opinion, were reasonably incurred— (A) if the subsequent purchaser obtained the transfer right from the first purchaser—by the first purchaser as part of being granted or granting the option; (B) if the subsequent purchaser obtained the transfer right from another subsequent purchaser—by that other subsequent purchaser or an associate of that other subsequent purchaser in order for that other s. 10 -- 27 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 24 subsequent purchaser to obtain a transfer right; and (b) the amount for which the property might reasonably have been sold if it had been sold, free from encumbrances, in the open market on the date on which the subsequent transaction was entered into. 32S. When does the liability to duty arise? A liability for duty charged by this Division arises when the transfer occurs. 32T. Who is liable to pay the duty? (1) Duty charged by this Division is payable— (a) in the case of duty referred to in section 32Q(1)(a)—by the first purchaser; (b) in the case of duty referred to in section 32Q(1)(b)—by the subsequent purchaser who obtains a transfer right under the relevant subsequent transaction. (2) A transferee who pays duty payable under this Division by another person may recover the amount of that duty as a debt due to the transferee from the other person. 32U. Exemptions and concessions (1) Duty is not chargeable under section 32Q(1)(a) if the option would be exempt from duty under this Chapter if it were a transfer of dutiable property to the first purchaser. s. 10 -- 28 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 25 (2) If the first purchaser would be entitled to a concession under this Chapter if the option were a transfer to the first purchaser, the first purchaser is entitled to that concession in respect of duty charged under section 32Q(1)(a). (3) Duty is not chargeable under section 32Q(1)(b) if the subsequent transaction would be exempt from duty under this Chapter if it were a transfer of dutiable property to the subsequent purchaser who obtains the transfer right under the subsequent transaction. (4) If a subsequent purchaser would be entitled to a concession under this Chapter if the subsequent transaction were a transfer to the subsequent purchaser, the subsequent purchaser is entitled to that concession in respect of duty charged under section 32Q(1)(b). Division 5—Miscellaneous 32V. Provisions for determining consideration (1) This section applies for the purpose of determining— (a) in Division 2 or 3— (i) the consideration given or agreed to be given under a sale contract; (ii) the consideration given or agreed to be given to obtain a transfer right under a subsequent transaction; s. 10 -- 29 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 26 (b) in Division 4— (i) the consideration that would need to be given to complete the sale or transfer contemplated by an option; (ii) the consideration given or agreed to be given to obtain a transfer right under a subsequent transaction. (2) The consideration is taken to include the amount or value of all encumbrances, whether certain or contingent, subject to which the property would be transferred in accordance with, or as contemplated by, the relevant transaction. (3) The consideration does not include any amount paid or payable in respect of the construction of a building to be constructed on land on or after the date of the relevant transaction. (4) The consideration in relation to land that is a lot on a plan of subdivision within the meaning of the Subdivision Act 1988 is taken not to include an amount, attributable exclusively to that lot, in respect of refurbishment of that lot carried out on or after the date of the relevant transaction and before the date of the transfer of the land if— (a) the transferor was a first registered proprietor within the meaning of the Transfer of Land Act 1958 of that lot; and (b) the sale of that lot to the transferee is the first sale of the lot after registration of the plan of subdivision; and s. 10 -- 30 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 27 (c) the transferee has not entered into a contract for refurbishment of the lot, other than in respect of the refurbishment referred to above; and (d) the transfer, when presented to or lodged with the Commissioner, is accompanied by— (i) a copy of the building permit, or building approval or permit; and (ii) a copy of the contract with the transferee for the refurbishment; and (iii) a statutory declaration in the approved form by the transferor as to the prescribed matters and as to whether or not the transferor has entered into any agreement with the transferee in respect of works (other than refurbishment) to be undertaken in relation to the lot before the transfer; and (iv) if the Commissioner requires, a statutory declaration in the approved form by the transferee declaring that the transferee has not entered any contract, other than the contract referred to in sub-paragraph (ii), for the refurbishment of the lot; and (v) if the Commissioner requires, a statutory declaration in the approved form by the person that issued the building permit, or building approval or permit. s. 10 -- 31 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 28 (5) For the purposes of this section, the date of a relevant transaction is— (a) for an option—the date on which the option was granted; (b) for a sale contract or subsequent transaction—the date on which the contract or transaction was entered into. (6) In this section— "refurbishment" means building work for which a building permit has been issued under the Building Act 1993, being work for the conversion of an existing building for which such a permit or approval is required; "relevant transaction" means— (a) an option; (b) a sale contract; (c) a subsequent transaction. 32W. No duty for transactions between relatives Duty is not chargeable under this Part in respect of a sale contract, an option or a subsequent transaction if— (a) in the case of a sale contract or option, the first purchaser is— (i) a relative of the vendor acting on the relative's own behalf; or (ii) a trustee of a fixed trust the only beneficiaries of which are relatives of the vendor; s. 10 -- 32 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 29 (b) in the case of a subsequent transaction, the subsequent purchaser is— (i) a relative of the first purchaser acting on the relative's own behalf; or (ii) a trustee of a fixed trust the only beneficiaries of which are relatives of the first purchaser. 32X. Parties required to provide information to Commissioner (1) This section applies if— (a) a person ("the vendor") enters into a contract to sell or transfer any dutiable property referred to in section 10(1)(a) or (d) to another person ("the first purchaser"), or an option is granted with respect to that property to or by the first purchaser; and (b) the transfer executed by the vendor transfers the property or any part of it not to the first purchaser but to another person ("the transferee"). (2) The transferee must give the Commissioner a statutory declaration in the approved form, containing the details required by the Commissioner for the purposes of determining any liability of the transferee or any other person to duty under this Chapter. (3) If the Commissioner considers it necessary for the purposes of determining liability to duty under this Chapter, the Commissioner may require any person he or she reasonably believes may be liable to duty to give the Commissioner a statutory declaration in the approved form, containing the details required by the Commissioner.'. s. 10 -- 33 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 30 11. Repeal of certain exemptions Sections 49, 50 and 55 of the Duties Act 2000 are repealed. 12. Extension of temporary suspension of first home owner exemption or concession In section 63A(1) of the Duties Act 2000, for "1 July 2005" substitute "1 July 2007". 13. Land rich provisions (1) In section 71(1) of the Duties Act 2000, omit "that has land holdings in Victoria". (2) In section 79(8) of the Duties Act 2000— (a) in paragraph (b), for "Victoria; or" substitute "Victoria."; (b) paragraph (c) is repealed. (3) In section 89K(1) of the Duties Act 2000, in the definition of "qualified investor"— (a) after paragraph (e) insert— "(ea) as the Crown in right of the Commonwealth, a State or a Territory (including any statutory body representing the Crown in right of the Commonwealth, a State or a Territory);"; (b) in paragraph (f), after "company" insert "or the Crown". (4) In section 89L(1) of the Duties Act 2000— (a) in paragraph (d), for "scheme." substitute "scheme; or"; (b) after paragraph (d) insert— "(e) a declared wholesale unit trust scheme.". s. 11 -- 34 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 31 14. New section 89PA inserted After section 89P of the Duties Act 2000 insert— "89PA. Registration of declared wholesale unit trust schemes (1) On application by the trustee of a unit trust scheme, the Commissioner may register the unit trust scheme as a declared wholesale unit trust scheme if the Commissioner is satisfied that the scheme meets the criteria for registration as a declared wholesale unit trust scheme. (2) The criteria for registration as a declared wholesale unit trust scheme are— (a) the scheme should be registered as a declared wholesale unit trust scheme; and (b) registration is not being sought for the purpose of, or as part of a scheme or arrangement with a collateral purpose of, avoiding or reducing duty otherwise chargeable under this Part.". 15. Further provisions for declared wholesale unit trust schemes In section 89Q(2)(a) of the Duties Act 2000, for "or wholesale unit trust scheme" substitute ", wholesale unit trust scheme or declared wholesale unit trust scheme". s. 14 -- 35 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 32 16. New section 125A inserted After section 125 of the Duties Act 2000 insert— "125A. Hire of goods duty abolished from January 2007 Despite anything to the contrary in this Chapter (except section 147(2)), duty is not chargeable on a hire of goods in respect of any hiring charges received on or after 1 January 2007.". 17. Consequential amendments on abolition of hire of goods duty (1) After section 140(2) of the Duties Act 2000 insert— "(3) Sub-section (1) does not apply to a commercial hire business in respect of hiring charges received in any month after December 2006.". (2) After section 142(1) of the Duties Act 2000 insert— "(1A) A registered commercial hire business is not required— (a) to comply with sub-section (1)(a) if the business ceases to hire out goods as a business on or after 1 January 2007; or (b) to comply with sub-section (1)(b) or (c) in respect of any hiring charges received on or after that day.". (3) After section 145(5) of the Duties Act 2000 insert— "(6) Nothing in this section requires a commercial hire business to— (a) lodge a return in respect of a month occurring after December 2006; or s. 16 -- 36 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 33 (b) pay duty in respect of any hiring charges received on or after 1 January 2007.". (4) After section 146(3) of the Duties Act 2000 insert— "(4) A statement cannot be made under this section on or after 1 January 2007 in respect of any hiring charges that are paid or payable on or after that day.". (5) At the end of section 147 of the Duties Act 2000 insert— "(2) Nothing in this Chapter entitles a commercial hire business that has paid duty under this section to a refund of the duty, or any part of it, in respect of any amount of hiring charges paid or payable on or after 1 January 2007.". 18. Repeal of motor vehicle exemption Section 234 of the Duties Act 2000 is repealed. 19. Corporate reconstructions In the Duties Act 2000— (a) in section 250(2), (3) and (4), for "Part" substitute "Division"; (b) in section 250A, for "In this Part" substitute "In this Division"; (c) in sections 250B(1) and (4), 250C(1) and (2) and 250D(1), for "Part" substitute "Division". s. 18 -- 37 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 34 20. New Division 1A inserted in Part 2 of Chapter 11 After Division 1 of Part 2 of Chapter 11 of the Duties Act 2000 insert— 'Division 1A—Corporate Consolidation Exemption 250DA. Definitions In this Division— "consolidatable group" has the same meaning as in section 703-10 of the ITAA; "consolidated group" has the same meaning as in section 703-5 of the ITAA; "corporate group" has the same meaning as in section 250; "corporation" has the same meaning as in section 250; "head company" means a corporation that is a head company within the meaning of section 703-15(2)(a) of the ITAA; "ITAA" means the Income Tax Assessment Act 1997 of the Commonwealth; "parent corporation" has the same meaning as in section 250. 250DB. What is a corporate consolidation? For the purposes of this Division, a "corporate consolidation" is the formation of a consolidated group or consolidatable group by the interposition of a head company between a corporation that is a member of a corporate group and the shareholders or unitholders of that corporation. s. 20 -- 38 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 35 250DC. What is an eligible transaction? (1) For the purposes of this Division, an "eligible transaction" is any of the following that occurs on or after 31 March 2005 solely for the purposes of a corporate consolidation— (a) a transfer of dutiable property from a shareholder or unitholder of a corporation to the head company; or (b) a vesting of dutiable property by, or as a consequence of, a court order where the property was held by a shareholder or unitholder of a corporation and is vested in the head company; or (c) an application to register a motor vehicle as a result of a transfer of the vehicle from a shareholder or unitholder of a corporation to the head company; or (d) a dutiable transaction to which section 14 applies between a shareholder or unitholder of a corporation and the head company; or (e) a relevant acquisition to which section 80 applies— (i) by the head company from a shareholder or unitholder of a corporation; or (ii) by a shareholder or unitholder of a corporation from the head company; or s. 20 -- 39 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 36 (f) a declaration of trust relating to dutiable property the specification of which forms part of the declaration of trust or part of the transaction constituted by the declaration of trust by the head company under which the dutiable property is held on trust for a shareholder or unitholder of a corporation; or (g) any other transaction that results in the beneficial ownership of dutiable property (other than an excluded transaction) moving from a shareholder or unitholder of a corporation to the head company. (2) Despite sub-section (1), a transaction is not an eligible transaction unless— (a) the only consideration provided by the head company for the transaction consists of the issue of shares in the head company to the shareholders or unitholders of the corporation; and (b) immediately after the issue of shares in the head company, all the shareholders in the head company are persons who were shareholders or unitholders in the corporation immediately before their shares or units were acquired by the head corporation. (3) Sub-section (2)(a) does not apply to a transaction referred to in sub-section (1)(e)(ii). s. 20 -- 40 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 37 250DD. Exemption for certain transactions arising out of corporate consolidation (1) A member of a consolidated group or consolidatable group may apply to the Commissioner for an exemption under this Division— (a) any time before the eligible transaction occurs to which the application relates; or (b) within 3 years after the eligible transaction occurs to which the application relates. (2) An applicant for an exemption must give the Commissioner— (a) a copy of the choice made to the Commissioner of Taxation of the Commonwealth in respect of the group under section 703-50 of the ITAA within 28 days after the later of— (i) the day on which the choice is made; (ii) the day on which the application for an exemption is made; and (b) a copy of any confirmation by the Commissioner of Taxation of the status of the group within 28 days after the later of— (i) the day on which the confirmation is received; (ii) the day on which the application for an exemption is made. s. 20 -- 41 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 38 (3) The Commissioner must grant an exemption from duty under this Act on an instrument or transfer of dutiable property if the Commissioner is satisfied that— (a) the instrument or transfer is, or arises out of, an eligible transaction; and (b) the eligible transaction does not arise from arrangements or a scheme devised for the principal purpose of taking advantage of the benefit of this section; and (c) the conditions of the exemption, if any, will be met by the applicant. (4) If duty under this Act has been paid on an eligible transaction, the Commissioner must refund any duty paid that, by reason of the exemption, is not payable. (5) The Minister must, before 31 October in each year, cause to be laid before each House of the Parliament a report of exemptions granted and refunds made under this Division in the preceding financial year, including— (a) the name of each member of a consolidated group or consolidatable group that has had the benefit of an exemption or refund; and (b) the amount of duty that would have been chargeable but for the exemption and the amount of any refund. s. 20 -- 42 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 39 250DE. Conditions of exemption (1) An exemption granted under this Division is subject to any conditions specified by the Commissioner. (2) If an exemption is granted under this Division, the conditions of the exemption are binding on the head company and the corporation that was the parent corporation immediately before the corporate consolidation. 250DF. Revocation of exemption (1) The Commissioner may revoke an exemption granted under this Division if— (a) the head company and the corporation that was the parent corporation immediately before the corporate consolidation do not remain members of the corporate group for a period of at least 3 years commencing immediately after the day on which the transaction occurred in respect of which the exemption was granted; or (b) the instrument or transfer of dutiable property is not, or does not arise out of, an eligible transaction; or (c) a change of circumstances results in the transaction in respect of which the exemption was granted no longer being an eligible transaction; or (d) the applicant for the exemption fails to comply with section 250DD(2); or s. 20 -- 43 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 40 (e) the exemption was granted based on false or misleading information in a material particular provided by the consolidated group or consolidatable group to the Commissioner; or (f) the eligible transaction arises from arrangements or a scheme devised for the principal purpose of taking advantage of the benefit of section 250DD. (2) Sub-section (1)(a) does not apply if the Commissioner is satisfied that the head company or the corporation that was the parent corporation immediately before the corporate consolidation ceases to be a member of the corporate group by virtue of— (a) a public float that occurred within 12 months after the day on which the transaction in respect of which the exemption was granted occurred; or (b) the shares or units of the head company or parent corporation being unstapled to enable its liquidation, deregistration, dissolution or, in the case of a unit trust scheme, winding up; or (c) its liquidation, deregistration or, in the case of a unit trust scheme, winding up. (3) In this section— "public float" has the same meaning as in section 250D. s. 20 -- 44 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 41 250DG. Special provision in relation to land-rich duty for private unit trust scheme consolidations (1) This section applies to a corporate consolidation that consists of the interposition of a head company between a private unit trust scheme and the unitholders of the private unit trust scheme. (2) In determining, for the purposes of Part 2 of Chapter 3, whether a person makes a relevant acquisition in a landholder that is a head company— (a) the head company must be taken to be a private unit trust scheme, being the same scheme as that existing immediately before the corporate consolidation; (b) a shareholding in the head company must be taken to be a unitholding in that private unit trust scheme; (c) if an interest in the private unit trust scheme held at any time before the corporate consolidation was or would be counted for the purposes of section 79, that interest is to continue to be counted for the purposes of that section after the corporate consolidation; (d) if an interest in the private unit trust scheme held at any time before the corporate consolidation was not or would not be counted for the purposes of section 79, that interest is to continue not to be counted for the purposes of that section after the corporate consolidation; s. 20 -- 45 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 42 (e) without limiting paragraph (a), any acquisition of an interest in land by the private unit trust scheme before the corporate consolidation is taken to have been an interest acquired by the head company at the time it was acquired by the private unit trust scheme. (3) This section applies for the period of 3 years commencing at the time of the corporate consolidation.'. 21. Further corporate reconstruction amendments In sections 250F, 250I(1) and 250J(1) of the Duties Act 2000, after "corporate group" (wherever occurring) insert ", consolidated group or consolidatable group". 22. Transitional provisions In Schedule 2 to the Duties Act 2000, after clause 20 insert— '21. State Taxation Acts (General Amendment) Act 2005 (1) Subject to sub-clause (2)— (a) Part 4A of Chapter 2 applies to a transfer resulting from a sale contract that was entered into, or an option that was granted, on or after the commencement day; (b) section 31, as in force immediately before the commencement day, continues to apply on and after that day to a transfer resulting from an agreement (within the meaning of that section) that was entered into before that day. (2) If each person who would be liable for duty under section 31 because of sub-clause (1)(b) in respect of a transfer of dutiable property notifies the Commissioner in writing, those persons may elect to have their liability for duty under this Act in respect of the transfer determined in accordance with Part 4A of Chapter 2 instead of section 31. s. 21 -- 46 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 43 (3) The Commissioner and each person who notifies the Commissioner under sub-clause (2) is bound by an election under that sub-clause. (4) Despite its repeal, section 49, as in force immediately before the commencement day, continues to apply on and after that day to a distribution of the assets of a company because of the reduction of the capital of the company if the resolution for the transactions affecting the capital (or a copy of it) was lodged with the Australian Securities and Investments Commission in compliance with Chapter 2J of the Corporations Act before the commencement day. (5) Despite its repeal, section 50, as in force immediately before the commencement day, continues to apply on and after that day to a distribution of the assets of a company because of the winding up of the company if— (a) in the case of a voluntary winding up—the resolution for the winding up was passed in compliance with Chapter 5 of the Corporations Act before the commencement day; (b) in the case of a winding up by the court—the order for the winding up was made before the commencement day. (6) Despite its repeal, section 234, as in force immediately before the commencement day, continues to apply on and after that day to a distribution of the assets of a company because of the winding up or the reduction of the capital of the company if— (a) in the case of a voluntary winding up—the resolution for the winding up was passed in compliance with Chapter 5 of the Corporations Act before the commencement day; (b) in the case of a winding up by the court—the order for the winding up was made before the commencement day; s. 22 -- 47 of 72 -- Part 4—Duties Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 44 (c) in the case of a reduction of capital—the resolution for the transactions affecting the capital (or a copy of it) was lodged with the Australian Securities and Investments Commission in compliance with Chapter 2J of the Corporations Act before the commencement day. (7) In this clause— "commencement day" means the day after the day on which the State Taxation Acts (General Amendment) Act 2005 receives the Royal Assent.'. __________________ s. 22 -- 48 of 72 -- Part 5—First Home Owner Grant Act 2000 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 45 PART 5—FIRST HOME OWNER GRANT ACT 2000 23. Extension of additional amount of grant For section 18(2) of the First Home Owner Grant Act 2000 substitute— "(2) Subject to sub-sections (3) and (4), if the consideration for the eligible transaction does not exceed $500 000 an additional amount is payable as follows— (a) $5000 if the commencement date of the eligible transaction is on or after 1 May 2004 and before 1 January 2006; or (b) $3000 if the commencement date of the eligible transaction is on or after 1 January 2006 and before 1 July 2007.". __________________ See: Act No. 5/2000. Reprint No. 1 as at 1 January 2004 and amending Act Nos 46/2004 and 71/2004. LawToday: www.dms. dpc.vic. gov.au s. 23 -- 49 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 46 PART 6—LAND TAX ACT 1958 24. Definitions (1) In section 3(1) of the Land Tax Act 1958, after the definition of "applicable general valuation" insert— ' "authorised officer" means an authorised officer under section 70 of the Taxation Administration Act 1997;'. (2) In section 3(1) of the Land Tax Act 1958, after the definition of "public statutory authority" insert— ' "registered caravan park" means a caravan park within the meaning of the Residential Tenancies Act 1997 that is registered in accordance with regulations made under section 515 of that Act;'. (3) In section 3(1) of the Land Tax Act 1958— (a) insert the following definitions— ' "residential care facility" means any premises— (a) in which— (i) a residential care service; or (ii) a multi purpose service— within the meaning of the Aged Care Act 1997 of the Commonwealth, is operated by an approved provider within the meaning of that Act; and (b) in respect of which an allocation of residential care places is in effect under Division 15 of that Act; See: Act No. 6289. Reprint No. 12 as at 13 June 2002 and amending Act Nos 59/2003, 113/2003, 3/2004, 46/2004, 71/2004 and 10/2005. LawToday: www.dms. dpc.vic. gov.au s. 24 -- 50 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 47 "supported residential service" has the same meaning as in the Health Services Act 1988;'; (b) for the definition of "retirement village" substitute— ' "retirement village" means a complex containing residential premises (whether or not including hostel units) predominantly or exclusively occupied, or available for occupation, by retired persons under— (a) a residential tenancy agreement or any other lease or licence; or (b) a right conferred by shares; or (c) the ownership of residential premises subject to a right or option of repurchase on conditions restricting the subsequent disposal of the premises— other than a complex or premises that is or are a residential care facility or supported residential service;'. 25. Minimum assessment In section 7A(1) of the Land Tax Act 1958— (a) for "2004" substitute "2005"; (b) for "$175" substitute "$200". s. 25 -- 51 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 48 26. Exemption for residential care facilities and supported residential services (from January 2004) In the Land Tax Act 1958— (a) in section 9(1)(j), for "village—" substitute "village;"; (b) after section 9(1)(j) insert— "(k) land which is occupied, or currently available for occupation, as— (i) a residential care facility; or (ii) a supported residential service—"; (c) in section 9(2AA)— (i) after "sub-section (1)(j)" (where first occurring) insert "or (k)"; (ii) in paragraph (a), after "sub-section (1)(j)" insert "or (k) (as the case requires)". 27. Exemption for caravan parks (from January 2005) In the Land Tax Act 1958— (a) in section 9(1)(k)(ii), for "service—" substitute "service;"; (b) after section 9(1)(k) insert— "(l) land which is used as a registered caravan park—"; (c) in section 9(2AA), for "or (k)" (where twice occurring) insert ", (k) or (l)". s. 26 -- 52 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 49 28. New section 9A inserted (from January 2004) After section 9 of the Land Tax Act 1958 insert— "9A. Rooming house exemption (1) Land is exempt from land tax if— (a) the land is used and occupied as a rooming house (within the meaning of the Residential Tenancies Act 1997) that is registered under Part XII of the Health Act 1958; and (b) application for the exemption is made in accordance with this section; and (c) the Commissioner is satisfied that the land is used and occupied primarily for low cost accommodation by people with low incomes, in accordance with guidelines issued by the Commissioner for the purposes of this section. (2) The guidelines may include provisions with respect to the following— (a) the circumstances in which accommodation is taken to be low cost accommodation; (b) the types and location of premises in which low cost accommodation may be provided; (c) the number and types of persons for whom the accommodation must be provided; (d) the circumstances in which, and the arrangements under which, the accommodation is provided; (e) maximum tariffs for the accommodation; s. 28 -- 53 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 50 (f) periods within which tariffs may not be increased; (g) the circumstances in which the applicant is required to give an undertaking to pass on the benefit of the exemption from taxation to the persons for whom the accommodation is provided in the form of lower tariffs. (3) A guideline— (a) may be of general or limited application; (b) may differ according to differences in time, place or circumstances. (4) If the Commissioner is satisfied that part only of land is used and occupied as referred to in sub-section (1)(a) and (c)— (a) land tax is assessable on the remaining part of the land, unless an exemption (other than the exemption in this section) applies to the remaining part; and (b) section 3A applies, if necessary, for that purpose. (5) This section does not apply to land unless— (a) the owner applies to the Commissioner for an exemption under this section in the form approved by the Commissioner; and (b) the owner gives the Commissioner any information the Commissioner requests for the purpose of enabling the Commissioner to determine whether the land is exempt under this section. s. 28 -- 54 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 51 (6) Without limiting the other ways in which land ceases to be exempt under this section, land ceases to be exempt if a person breaches an undertaking given as referred to in sub- section (2)(g).". 29. Special land tax (1) In section 10(1) of the Land Tax Act 1958— (a) for "paragraphs (b), (g), (h), (ha) or (i) of sub-section (1) of section 9" substitute "section 9(1)(b), (g), (h), (ha), (i) or (k) or section 9A"; (b) after "section 9" (where secondly occurring) insert "or 9A (as the case requires)". (2) In section 10(1) of the Land Tax Act 1958, for "(i) or (k)" substitute "(i), (k) or (l)". (3) In section 10(4) of the Land Tax Act 1958, after "sections 3, 3A, 9," insert "9A,". 30. Principal place of residence exemption After section 13H(4) of the Land Tax Act 1958 insert— "(5) For the purposes of calculating the amount of a refund under this section, the land referred to in sub-section (1), (2), (3) or (3A) is to be taken to have been exempt from tax in respect of the tax year in respect of which the refund is payable. Example At midnight on 31 December 2004, A owned a block of unoccupied land valued at $100 000 and an investment property valued at $250 000. A's land tax for 2005 will be calculated on the aggregated value of both landholdings, that is $350 000. If A occupies the block as A's principal place of residence for at least 6 months commencing at some time in 2005, A's refund under sub-section (1) will be calculated as if the block had been exempt from land tax for 2005. s. 29 -- 55 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 52 Therefore, A's refund will be the difference between the land tax A paid on a land value of $350 000 and the land tax A would have paid on a land value of $250 000. (6) Sub-section (5) applies to a refund if the application for the refund is made on or after 1 January 2005.". 31. New sections 72 and 73 substituted, 73A and 73B inserted For sections 72 and 73 of the Land Tax Act 1958 substitute— '72. Power to require information, documents and things, and attendance (1) The Commissioner, by written notice, may require a person to do any one or more of the following— (a) to provide to the Commissioner (either orally or in writing) information that is described in the notice; (b) to attend and give evidence before the Commissioner or another authorised officer; (c) to produce to the Commissioner a document or thing in the person's custody or control that is described in the notice. (2) If the requirement is made of a person to determine that person's liability for tax, the Commissioner must indicate in the notice that the requirement is made for that purpose, but the Commissioner is not otherwise required to identify a person in relation to whom any information, evidence, document or thing is required under this section. s. 31 -- 56 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 53 (3) The Commissioner may require information or evidence that is not given orally to be provided in the form of or verified by a statutory declaration. (4) The Commissioner may require evidence that is given orally to be given on oath and for that purpose the Commissioner or an authorised officer may administer an oath. (5) Subject to sub-section (6), a person who is required to attend and give evidence orally is to be paid expenses in accordance with the scale of expenses prescribed under section 73 of the Taxation Administration Act 1997. (6) Sub-section (5) does not apply to a person, or a representative of a person, whose liability for tax is being investigated by the Commissioner. (7) The Commissioner may make a recording, by such means as the Commissioner determines, of the evidence given orally by a person. (8) The person to whom the notice is given must comply with the notice within the period specified in the notice or any extended period allowed by the Commissioner. Penalty: 500 penalty units in the case of a body corporate; 100 penalty units in any other case. (9) If a person is convicted of an offence against sub-section (8) the court, in addition to imposing a penalty under that sub-section and whether or not the period for complying with the notice has expired, may order the person to comply with— s. 31 -- 57 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 54 (a) the requirement contained in the notice; and (b) any other requirement that could be made in relation to the person under this Act that the court considers necessary to ensure the effectiveness of the requirement referred to in paragraph (a)— within the period specified by the court. (10) A person cannot be charged with an offence against sub-section (8) in respect of a failure to comply with a requirement of a notice if the Commissioner has certified the failure to the Supreme Court under section 73, unless the Supreme Court declines to inquire into the matter. 73. Powers of Supreme Court if non- compliance with section 72 (1) If the Commissioner is satisfied that a person has, without reasonable excuse, failed to comply with a requirement of a notice under section 72, the Commissioner may certify the failure to the Supreme Court. (2) If the Commissioner so certifies, the Supreme Court may inquire into the case and may order the person to comply with the requirement within the period specified by the Court. (3) The Commissioner cannot certify a failure to the Supreme Court under this section if the person to whom the failure relates has been charged with an offence against section 72(8) in respect of the failure. s. 31 -- 58 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 55 (4) A person who, without reasonable excuse, fails to comply with an order under sub- section (2) is guilty of an offence and liable to a term of imprisonment not exceeding 3 months. (5) Nothing in sub-section (4) affects the power of the Supreme Court to deal with a person for contempt of that court, but a person is not liable to be punished more than once for failing to comply with an order under sub- section (2). 73A. Power of entry (1) An authorised officer may exercise powers under this section only if he or she believes on reasonable grounds that there are documents or things on any premises that are relevant to the administration or execution of this Act. (2) Subject to this section, an authorised officer with any assistants and equipment the authorised officer considers necessary may enter, at any reasonable time, any premises and may do any one or more of the following— (a) search the premises and any thing found at the premises; (b) inspect and take photographs (including video recordings), or make sketches, of the premises or any thing at the premises; (c) inspect, and make copies of, or take extracts from, any document kept at the premises; s. 31 -- 59 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 56 (d) seize any document or thing at the premises if the authorised officer has reason to believe or suspect that it is necessary to do so in order to prevent its concealment, loss, destruction or alteration. (3) An authorised officer may not seize a document or thing apparently in the possession or custody of a person unless the authorised officer makes out and tenders to the person a receipt in the prescribed form for the document or thing seized. (4) If an authorised officer is unable to ascertain the identity of the owner or custodian of anything seized, the authorised officer must leave the receipt in a prominent place at the premises. (5) An authorised officer may not exercise any powers under this section if the authorised officer fails to produce, on request, his or her identity card for inspection by the occupier of the premises. (6) The power of entry and search under this section is not exercisable in relation to premises or a part of premises used for residential purposes except with the written consent of the occupier. (7) An occupier who consents in writing to entry and search of his or her premises under this section must be given a copy of the signed consent immediately. s. 31 -- 60 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 57 (8) In this section— "premises" includes, land, a vehicle, a vessel and an aircraft; "prescribed form" means the form prescribed for the purposes of section 76(3) of the Taxation Administration Act 1997. 73B. Self-incrimination (1) A person is not excused from answering a question, providing information or producing a document or thing, when required to do so under section 72, on the ground that to do so might tend to incriminate the person or make the person liable to a penalty. (2) However, if the person objects to answering the question, providing the information or producing the document or thing on that ground, the answer, information, document or thing is not admissible against the person in any criminal proceedings other than— (a) proceedings for an offence against section 72(8); or (b) proceedings for an offence in the nature of perjury.'. 32. New tax rates and rebates (1) After clause 6 of the Second Schedule to the Land Tax Act 1958 insert— "6A. Rebate of 2005 land tax An owner who has paid or is liable to pay land tax for 2005 is entitled to a rebate of land tax equal to half the difference between— (a) the amount of land tax paid or payable by the owner for 2005 as determined in accordance with clause 6; and s. 32 -- 61 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 58 (b) the notional amount determined by applying the tax rates in Table FA to the total unimproved value of land of the owner as assessed under this Act for 2005. TABLE FA Item Column 1 Column 2 Column 3 $ $ 1. 0 175 000 Nil 2. 175 000 200 000 $175 and 0⋅1 cents for each $1 of the value that exceeds $175 000 3. 200 000 540 000 $200 and 0⋅2 cents for each $1 of the value that exceeds $200 000 4. 540 000 900 000 $880 and 0⋅5 cents for each $1 of the value that exceeds $540 000 5. 900 000 1 190 000 $2680 and 1 cent for each $1 of the value that exceeds $900 000 6. 1 190 000 1 620 000 $5580 and 1⋅5 cents for each $1 of the value that exceeds $1 190 000 7. 1 620 000 2 700 000 $12 030 and 2⋅25 cents for each $1 of the value that exceeds $1 620 000 8. 2 700 000 $36 330 and 4 cents for each $1 of the value that exceeds $2 700 000 Example An owner has land with a total unimproved value of $1 500 000 as assessed for the purposes of the owner's land tax for 2005. The owner's rebate will be worked out as follows— (a) the land tax paid or payable for 2005 (applying the rates in Table F in clause 6) is $18 205; s. 32 -- 62 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 59 (b) the notional amount calculated by applying the rates in Table FA to the total unimproved value is $10 230; (c) the difference between (a) and (b) is $7975; (d) the rebate is half the difference between (a) and (b), that is $3987.50.". (2) For clauses 7, 8, 9 and 10 of the Second Schedule to the Land Tax Act 1958 substitute— '7. Land tax for 2006 7.1 Subject to clause 7.2, if the total unimproved value of land of an owner as assessed under this Act for 2006 is not less than the amount shown in column 1 of an item in Table G and, if an amount is shown in column 2 of that item, less than the amount shown in column 2 of that item, the duty of land tax payable on the land is the amount determined in accordance with column 3 of that item. TABLE G Item Column 1 Column 2 Column 3 $ $ 1. 0 200 000 Nil 2. 200 000 540 000 $200 and 0⋅2 cents for each $1 of the value that exceeds $200 000 3. 540 000 900 000 $880 and 0⋅5 cents for each $1 of the value that exceeds $540 000 4. 900 000 1 190 000 $2680 and 1 cent for each $1 of the value that exceeds $900 000 5. 1 190 000 1 620 000 $5580 and 1⋅5 cents for each $1 of the value that exceeds $1 190 000 s. 32 -- 63 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 60 Item Column 1 Column 2 Column 3 $ $ 6. 1 620 000 2 700 000 $12 030 and 2⋅25 cents for each $1 of the value that exceeds $1 620 000 7. 2 700 000 $36 330 and 3⋅5 cents for each $1 of the value that exceeds $2 700 000 7.2 The duty of land tax payable for 2006 on the land of an owner is— (a) the amount determined in accordance with clause 7.1; or (b) if that amount is more than 150% of the 2005 tax amount, 150% of the 2005 tax amount. 7.3 For the purposes of this clause— (a) "2005 tax amount", in relation to land of an owner, means the amount determined by applying the rates of tax set out in Table F in clause 6 to the sum of— (i) in respect of any land that was valued separately as at the relevant date (within the meaning of section 3) for the purpose of assessing land tax for 2005, the unimproved value of that land determined for the purpose of assessing land tax for 2005; and (ii) in respect of any land that was not valued separately as at the relevant date for the purpose of assessing land tax for 2005 but was rated separately as at the relevant date for the purpose of assessing land tax for 2006, the unimproved value of that land determined for the purpose of assessing land tax for 2006; and s. 32 -- 64 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 61 (iii) in respect of all other land, the unimproved value of the land as assessed under this Act for 2005— less the amount that would be determined as a rebate under clause 6A in respect of the amount determined above; (b) if the 2005 tax amount is zero, the duty of land tax payable for 2006 is the amount determined in accordance with clause 7.1; (c) if the amount determined in accordance with clause 7.1 is zero, no duty of land tax is payable for 2006. 8. Land tax for 2007 If the total unimproved value of land of an owner as assessed under this Act for 2007 is not less than the amount shown in column 1 of an item in Table H and, if an amount is shown in column 2 of that item, less than the amount shown in column 2 of that item, the duty of land tax payable on the land is the amount determined in accordance with column 3 of that item. TABLE H Item Column 1 Column 2 Column 3 $ $ 1. 0 200 000 Nil 2. 200 000 540 000 $200 and 0⋅2 cents for each $1 of the value that exceeds $200 000 3. 540 000 900 000 $880 and 0⋅5 cents for each $1 of the value that exceeds $540 000 4. 900 000 1 190 000 $2680 and 1 cent for each $1 of the value that exceeds $900 000 5. 1 190 000 1 620 000 $5580 and 1⋅5 cents for each $1 of the value that exceeds $1 190 000 s. 32 -- 65 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 62 Item Column 1 Column 2 Column 3 $ $ 6. 1 620 000 2 700 000 $12 030 and 2⋅25 cents for each $1 of the value that exceeds $1 620 000 7. 2 700 000 $36 330 and 3⋅25 cents for each $1 of the value that exceeds $2 700 000 9. Land tax for 2008 and subsequent years If the total unimproved value of land of an owner as assessed under this Act for 2008 or a subsequent year is not less than the amount shown in column 1 of an item in Table I and, if an amount is shown in column 2 of that item, less than the amount shown in column 2 of that item, the duty of land tax payable on the land is the amount determined in accordance with column 3 of that item. TABLE I Item Column 1 Column 2 Column 3 $ $ 1. 0 200 000 Nil 2. 200 000 540 000 $200 and 0⋅2 cents for each $1 of the value that exceeds $200 000 3. 540 000 900 000 $880 and 0⋅5 cents for each $1 of the value that exceeds $540 000 4. 900 000 1 190 000 $2680 and 1 cent for each $1 of the value that exceeds $900 000 5. 1 190 000 1 620 000 $5580 and 1⋅5 cents for each $1 of the value that exceeds $1 190 000 s. 32 -- 66 of 72 -- Part 6—Land Tax Act 1958 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 63 Item Column 1 Column 2 Column 3 $ $ 6. 1 620 000 2 700 000 $12 030 and 2⋅25 cents for each $1 of the value that exceeds $1 620 000 7. 2 700 000 $36 330 and 3 cents for each $1 of the value that exceeds $2 700 000 '. __________________ s. 32 -- 67 of 72 -- Part 7—Pay-roll Tax Act 1971 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 64 PART 7—PAY-ROLL TAX ACT 1971 33. Employment agents After section 5(3) of the Pay-roll Tax Act 1971 insert— "(3A) Sub-section (3) does not apply in relation to any amount, benefit or payment that would be exempt from pay-roll tax under section 10(1)(ca) had the service provider been paid by the client as an employee at any time before 1 July 2005.". 34. Exemption for wages paid by school councils (from July 2004) After section 10(1)(c) of the Pay-roll Tax Act 1971 insert— "(ca) by a school council within the meaning of the Education Act 1958;". __________________ See: Act No. 8154. Reprint No. 10 as at 1 January 2004 and amending Act Nos 46/2004 and 71/2004. LawToday: www.dms. dpc.vic. gov.au s. 33 -- 68 of 72 -- Part 8—Taxation Administration Act 1997 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 65 PART 8—TAXATION ADMINISTRATION ACT 1997 35. Interest rate (1) In section 25(1)(a)(i) of the Taxation Administration Act 1997, for "Treasury Note yield rate" substitute "Bank Accepted Bills rate". (2) For section 25(2) of the Taxation Administration Act 1997 substitute— '(2) The "Bank Accepted Bills rate" in respect of any day is the average of the daily yields for 90 day Bank Accepted Bills published by the Reserve Bank of Australia for the month of May in the financial year preceding the financial year in which the day occurs.'. (3) In section 25(3) of the Taxation Administration Act 1997, for "Treasury Note yield rate" substitute "Bank Accepted Bills rate". 36. Penalty tax (1) In section 31(1) and (2) of the Taxation Administration Act 1997, for "informs the taxpayer that an investigation relating to the taxpayer is to be carried out" substitute "commences an investigation into a known or suspected tax default by the taxpayer". (2) After section 31(2) of the Taxation Administration Act 1997 insert— "(3) Sub-section (1) or (2) (as the case requires) does not apply in respect of information disclosed by a taxpayer if— (a) the information is disclosed after the Commissioner has issued an assessment in respect of the known or suspected tax default; and See: Act No. 40/1997. Reprint No. 2 as at 13 September 2001 and amending Act Nos 79/2001, 113/2003, 46/2004 and 108/2004. LawToday: www.dms. dpc.vic. gov.au s. 35 -- 69 of 72 -- Part 8—Taxation Administration Act 1997 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 66 (b) the tax default involved the failure to lodge a return; and (c) the taxpayer was required to include the information in the return.". (3) In section 32(1) of the Taxation Administration Act 1997, for "has informed the taxpayer that an investigation is to be carried out" substitute "commences an investigation into a known or suspected tax default by the taxpayer". 37. Secrecy provisions After section 92(e)(vb) of the Taxation Administration Act 1997 insert— "(vc) the Country Fire Authority; or (vd) the Metropolitan Fire and Emergency Services Board; or". 38. Valuation of foreign currency For section 119(1) of the Taxation Administration Act 1997 substitute— "(1) If an amount involved in the calculation of tax is not in Australian currency, the amount is to be converted to Australian currency at the exchange rate published by the Reserve Bank of Australia on the day on which the liability to pay the tax arose.". __________________ s. 37 -- 70 of 72 -- Part 9—Taxation (Interest on Overpayments) Act 1986 State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 67 PART 9—TAXATION (INTEREST ON OVERPAYMENTS) ACT 1986 39. Interest rate (1) In section 7(2)(a) of the Taxation (Interest on Overpayments) Act 1986, for "Treasury Note yield rate" substitute "Bank Accepted Bills rate". (2) For section 7(3) of the Taxation (Interest on Overpayments) Act 1986 substitute— '(3) The "Bank Accepted Bills rate" in respect of any day is the average of the daily yields for 90 day Bank Accepted Bills published by the Reserve Bank of Australia for the month of May in the financial year preceding the financial year in which the day occurs.'. (3) In section 7(3A) of the Taxation (Interest on Overpayments) Act 1986, for "Treasury Note yield rate" substitute "Bank Accepted Bills rate". ═══════════════ See: Act No. 35/1986. Reprint No. 1 as at 19 March 1998 and amending Act Nos 47/1999 and 79/2000. LawToday: www.dms. dpc.vic. gov.au s. 39 -- 71 of 72 -- State Taxation Acts (General Amendment) Act 2005 Act No. 36/2005 68 ENDNOTES † Minister's second reading speech— Legislative Assembly: 26 May 2005 Legislative Council: 17 June 2005 The long title for the Bill for this Act was "to amend the Business Franchise (Petroleum Products) Act 1979, the Debits Tax Act 1990, the Duties Act 2000, the First Home Owner Grant Act 2000, the Land Tax Act 1958, the Pay-roll Tax Act 1971, the Taxation Administration Act 1997 and the Taxation (Interest on Overpayments) Act 1986 and for other purposes." Endnotes -- 72 of 72 --