Revenue Laws Amendment (Taxation) Act 1998 (WA)
| Western Australia |
Revenue Laws Amendment (Taxation)
Act 1998
No. 18 of 1998
An Act to amend the —
| | Land Tax Act 1976; and |
| | Stamp Act 1921, |
and for related purposes.
[Assented to 30 June 1998]
The Parliament of Western Australia enacts as follows:
Revenue Laws Amendment (Taxation) Act 1998
| Part 1 | Preliminary |
| s. 1 |
Part 1 — Preliminary
1. Short title
| This Act may be cited as the Revenue Laws Amendment (Taxation) Act 1998. |
2. Commencement
| (1) | Subject to this section, this Act comes into operation on the day on which it receives the Royal Assent. |
| (2) | If this Act receives the Royal Assent on or before 1 July 1998 — |
| (a) | Part 2; and |
| (b) | subject to subsections (4) and (5), Part 3, |
come into operation on 1 July 1998.
| (3) | If this Act receives the Royal Assent after 1 July 1998 — |
| (a) | Part 2; and |
| (b) | subject to subsections (4) and (5), Part 3, |
are deemed to have come into operation on 1 July 1998.
| (4) | Section 12(11) is deemed to have come into operation on 30 April 1998 in relation to a policy of insurance that is effected on or after 30 April 1998 and before 1 July 1998 if — |
| (a) | the period for which the policy is valid commences on or after 1 July 1998; or |
| (b) |
the period for which the policy is valid commences on policy replaces another policy with the same insurer that would otherwise have expired on or after 1 July 1998.
Revenue Laws Amendment (Taxation) Act 1998
| Preliminary | Part 1 |
s. 2
| (5) | Section 12(11) is deemed to have come into operation on 30 April 1998 in relation to a policy of insurance that is renewed on or after 30 April 1998 and before 1 July 1998 if — |
| (a) | the period for which the policy is renewed commences on or after 1 July 1998; or |
| (b) | the policy being renewed would otherwise have expired on or after 1 July 1998. |
Revenue Laws Amendment (Taxation) Act 1998
| Part 2 | Land Tax Act 1976 amended |
| s. 3 |
Part 2 — Land Tax Act 1976 amended
3. Act amended by this Part
The amendments in this Part are to the Land Tax Act 1976*.
[* Act No.13 of 1976.
For subsequent amendments see 1997 Index to Legislation of
Western Australia, Table 1, p. 129.]
4. Section 10 amended
Section 10 is amended by deleting “, and for each year of assessment thereafter,”.
5. Section 11 added
After section 10 the following section is added —
| “ |
11. Land tax rate from 1998
| For the year of assessment commencing on 1 July 1998, and for each year of assessment thereafter, land tax is imposed, and shall be payable pursuant to the Land Tax Assessment Act 1976, at the rate shown in Schedule 7. |
”.
Revenue Laws Amendment (Taxation) Act 1998
| Land Tax Act 1976 amended | Part 2 |
s. 6
6. Schedule 7 added
After Schedule 6 the following Schedule is added —
| “ |
Schedule 7
[s. 11]
Unimproved value of the land
under the Land Tax Assessment
| Act 1976 | Rate |
| Exceeding | Not exceeding |
| $ | $ |
| 0 | 10 000 | Nil |
| 10 000 | 85 000 | $15.00 + 0.15 cent for each $1 in excess of $10 000 |
| 85 000 | 170 000 | $127.50 + 0.25 cent for each $1 in excess of $85 000 |
| 170 000 | 270 000 | $340.00 + 0.45 cent for each $1 in excess of $170 000 |
| 270 000 | 500 000 | $790.00 + 0.80 cent for each $1 in excess of $270 000 |
| 500 000 | 800 000 | $2 630.00 + 1.20 cents for each $1 in excess of $500 000 |
| 800 000 | 1 200 000 | $6 230.00 + 1.60 cents for each $1 in excess of $800 000 |
| 1 200 000 | $12 630.00 + 2.00 cents for each $1 in excess of $1 200 000 |
”.
Revenue Laws Amendment (Taxation) Act 1998
| Part 3 | Stamp Act 1921 amended |
| s. 7 | |
| Part 3 — Stamp Act 1921 amended |
7. Act amended by this Part
The amendments in this Part are to the Stamp Act 1921*.
[* Reprinted as at 23 January 1996.
For subsequent amendments see 1997 Index to Legislation of
Western Australia, Table 1, pp. 217-20.]
8. Section 31 amended
Section 31(7) is amended by deleting “$2” in the 2 places where it occurs and in each place inserting instead —
“ $5 ”.
9. Section 75AE amended
Section 75AE(2)(b) is amended by deleting “$85 000” and inserting instead —
“ $135 000 ”.
10. Section 75AG amended
Section 75AG(5)(c) is amended as follows:
| (a) |
in subparagraph (i) by deleting “$85 000” and inserting “ $135 000 ”;
| (b) |
in subparagraph (i) by deleting “$127 500” and inserting “ $202 500 ”;
| (c) |
in subparagraph (ii) by deleting “$33 000” and inserting “ $52 000 ”.
Revenue Laws Amendment (Taxation) Act 1998
| Stamp Act 1921 amended | Part 3 |
| s. 11 |
11. Section 80 amended
Section 80 is amended by deleting “subitem (4)” and inserting instead —
“ subitem (5) ”.
12. Second Schedule amended
| (1) | Item 4(1) of the Second Schedule is amended as follows: |
| (a) |
in paragraph (a) by deleting “$1.75” and inserting “ $1.95 ”;
| (b) |
in paragraph (b) by deleting “$1 400 and $2.50” and “ $1 560 and $2.85 ”;
| (c) |
in paragraph (c) by deleting “$1 900 and $3.25” and “ $2 130 and $3.70 ”;
| (d) |
in paragraph (d) by deleting “$6 775 and $4” and “ $7 680 and $4.55 ”;
| (e) |
in paragraph (e) by deleting “$16 775 and $4.25” and “ $19 055 and $4.85 ”.
Revenue Laws Amendment (Taxation) Act 1998
| Part 3 | Stamp Act 1921 amended |
| s. | 12 | |
|
“
| (5) | Transfer of land under the | The purchaser |
| Transfer of Land Act 1893 on a sale thereof or conveyance or transfer of any other property where the purchaser is an entitled person under section 75AE — |
| (a) where the amount or value of | $1.50 for |
| the consideration does not | every $100 of |
| exceed $100 000 | the amount or value of the consideration and every fractional part of $100 |
| (b) where the amount or value of | $1 500 and |
| the consideration exceeds | $5.50 for |
| $100 000 | every $100 and every fractional part of $100 by which the amount or value of the consideration exceeds $100 000 |
”.
| (3) | Item 5(1) of the Second Schedule is amended by deleting “5.00” and inserting instead — |
| “ 20.00 ”. |
Revenue Laws Amendment (Taxation) Act 1998
| Stamp Act 1921 amended | Part 3 |
| s. 12 |
| (4) | Item 6 of the Second Schedule is amended by deleting “$5.00” in the 2 places where it occurs and in each place inserting instead — |
| “ $20.00 ”. | |
| (5) | Item 8 of the Second Schedule is amended by deleting “5.00” in the 2 places where it occurs and in each place inserting instead — |
| “ 20.00 ”. | |
| (6) | Item 9 of the Second Schedule is amended by deleting “$2.00” in the 2 places where it occurs and in each place inserting instead — |
| “ $5.00 ”. | |
| (7) | Item 12(4) of the Second Schedule is amended by deleting “5.00” and inserting instead — |
| “ 20.00 ”. | |
| (8) | After item 12(4) of the Second Schedule the following subitem is inserted — |
“
| (5) | Re-appraisement of rent (s. 80) | 5.00 | The lessee |
”.
| (9) | Item 13 of the Second Schedule is amended as follows: |
| (a) |
in subitem (3)(a) by deleting “10.00” and inserting “ 20.00 ”;
| (b) |
in subitem (3)(d) by deleting “5.00” and inserting “ 20.00 ”.
Revenue Laws Amendment (Taxation) Act 1998
| Part 3 | Stamp Act 1921 amended |
| s. | 13 | |
|
“ 20.00 ”.
| (11) | Item 16 of the Second Schedule is amended as follows: |
| (a) |
in subitem (1)(a) by deleting “3%” and inserting “ 5% ”;
| (b) |
in subitem (1)(c) by deleting “5%” and inserting “ 8% ”;
| (c) |
in subitem (2) by deleting “0.05” and inserting “ 0.08 ”.
13. Saving
Subject to section 2(4) and (5), and without limiting the operation of the Interpretation Act 1984, the provisions of the Stamp Act 1921 as in force immediately before 1 July 1998 continue to have effect in relation to instruments executed before 1 July 1998.
By Authority: JOHN A. STRIJK, Government Printer
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