Revenue Legislation Amendment Act 2023 (ACT)
Revenue Legislation Amendment Act 2023
A2023-6
Contents
Page
Part 1 Preliminary
1 Name of Act 2
2 Commencement 2
3 Legislation amended 2
Part 2Duties Act 1999
4 DictionarySection 2A, note 1 3
5 No double dutySection 17 (7) 3
6 Section 17 (9), new definition of related person 3
7 Sections 28 and 29 (3) 3
8 ExemptionsPart 2.5 heading, new note 4
9 Transfer of property from one superannuation fund to anotherSection 62 (3) 4
10 Transfers between trustee and custodians of superannuation funds or trustsSection 63 (2), definition of complying superannuation fund 4
11 Section 76 4
12 New section 77A 5
13 Definitions—pt 3.2Section 78, definitions of associated person and landholder 7
14 Section 79 7
15 Meaning of landholding—pt 3.2Section 80 (2) (b) 7
16 New section 80 (5) 7
17 Section 81 8
18 Meaning of associated person—pt 3.2Section 83A 10
19 What is a relevant acquisition?—pt 3.2Section 86 (1) and note 10
20 Section 87 11
21 Sections 89 and 90 13
22 Valuation of propertySection 93 (1) 19
23 Section 93 (1) 19
24 Section 93 (2) 20
25 Section 93 (2) 20
26 Section 94 20
27 Duty concession—acquisitions securing financial accommodationSection 95 (1) (a) 21
28 Section 95 (2) 22
29 Section 95 (3) 22
30 When does liability for duty arise?Section 103 (2) 22
31 Exemptions—ch 3 transactionsPart 3.7 heading, new note 22
32 Exemption for relevant acquisitionsSection 115J (1) 23
33 ExemptionsPart 9.2 heading, new note 23
34 General exemptions from dutyChapter 11 heading, new note 23
35 ObjectionsSection 252 (f) 23
36 Dictionary, definitions of acquisition statement and associated person 24
37 Dictionary, definition of Australian Stock Exchange 24
38 Dictionary, new definition of Australian Securities Exchange 24
39 Dictionary, definitions of chapter 3 transaction and complying superannuation fund 24
40 Dictionary, definition of landholder 25
41 Dictionary, new definition of listed company 25
42 Dictionary, definition of listed trust 25
43 Dictionary, definition of private company 26
44 Dictionary, definitions of related body corporate and related person 26
45 Dictionary, definition of trustee, paragraphs (e) and (f) 26
Part 3Land Tax Act 2004
46 Land partly owned by corporation or trusteeSection 16 (1) (b) (i) 27
47 Section 16 (4) 27
48 Payment of land taxSection 17 (3) 27
49 Imposition of foreign ownership surchargeSection 17E (2) (a) 27
50 Unit subdivisions—land taxSection 27 (5) (b) (i) 28
Schedule 1 Consequential amendments 29
Part 1.1 Civil Law (Sale of Residential Property) Act 2003 29
Part 1.2 Land Tax Act 2004 29
Revenue Legislation Amendment Act 2023
A2023-6
An Act to amend legislation about revenue collection, and for other purposes
The Legislative Assembly for the Australian Capital Territory enacts as follows:
Part 1Preliminary
Name of Act
This Act is the Revenue Legislation Amendment Act 2023.
Commencement
(1)Parts 1 and 3 commence on the day after its notification day.
NoteThe naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
(2)Part 2 commences on a day fixed by the Minister by written notice.
Note 1A single day or time may be fixed, or different days or times may be fixed, for the commencement of different provisions (see Legislation Act, s 77 (1)).
Note 2If a provision has not commenced within 6 months beginning on the notification day, it automatically commences on the first day after that period (see Legislation Act, s 79).
(3)Schedule 1 commences on the commencement of section 12 (New section 77A).
Legislation amended
This Act amends the Duties Act 1999 and the Land Tax Act 2004.
NoteThis Act also amends the Civil Law (Sale of Residential Property) Act 2003 (see sch 1).
Part 2Duties Act 1999
Dictionary
Section 2A, note 1substitute
Note 1The dictionary at the end of this Act defines certain terms used in this Act, and includes references (signpost definitions) to other terms defined elsewhere in this Act or other legislation.
For example, the signpost definition ‘Crown lease—see the Land Titles Act 1925, dictionary.’ means that the term ‘Crown lease’ is defined in that dictionary and the definition applies to this Act.
No double duty
Section 17 (7)omit
marketable securities that confer
substitute
an interest in a landholder conferring
Section 17 (9), new definition of related person
insert
related person—see section 77A (3).
Sections 28 and 29 (3)
omit
where:
Exemptions
Part 2.5 heading, new noteinsert
NoteThe exemptions from duty provided under this part are in addition to the exemptions under ch 11 (General exemptions from duty).
Transfer of property from one superannuation fund to another
Section 62 (3)omit
Transfers between trustee and custodians of superannuation funds or trusts
Section 63 (2), definition of complying superannuation fundomit
Section 76
substitute
Meaning of chapter 3 transaction
In this Act:
chapter 3 transaction means—
(a)an acquisition of an interest in a landholder under part 3.2; or
(b)an acquisition of a land use entitlement under part 3.4; or
(c)a voluntary transfer of a business under part 3.6.
76ADefinition—ch 3
In this chapter:
acquisition statement—see section 87 (1).
New section 77A
in division 3.2.1, insert
77AMeaning of associated person
(1)For this Act, an associated person means a person who is associated with another person in accordance with any of the following:
(a)people are associated people if they are related people;
(b)individuals are associated people if they are partners in a partnership to which the Partnership Act 1963 applies;
(c)private companies are associated people if—
(i)any majority shareholder, or a related person of the shareholder, is a majority shareholder of each company; or
(ii)there are minority shareholders common to each company who, if their interests in each company were aggregated, would be a majority shareholder of each company;
(d)trustees of trusts are associated people if any person is a beneficiary common to the trusts (not including a public unit trust scheme);
(e)a private company and a trustee of a trust are associated people if a related body corporate of the company is a beneficiary of the trust (not including a public unit trust scheme).
(2)Also, a person (person A) is an associated person of another person (person B) if, under subsection (1)—
(a)person A is an associated person of another person (person C); and
(b)person B is also an associated person of person C.
Example
LMN Pty Ltd is the majority shareholder of XYZ Pty Ltd. John is a director of XYZ Pty Ltd. John is a related person, and hence an associated person, of XYZ Pty Ltd under s (1) (a). Under s (2), John is also an associated person of LMN Pty Ltd.
(3)In this section:
minority shareholder, in relation to a private company, means a shareholder of the company that is not a majority shareholder.
related body corporate—see the Corporations Act, section 9.
related person means a person who is related to another person in accordance with any of the following:
(a)individuals are related people if—
(i)they are partners, or they have been partners and the partnership has ended (whether in Australia or elsewhere); or
(ii)the relationship between them is that of parent and child, brothers, sisters, or brother and sister;
(b)private companies are related people if they are related bodies corporate;
(c)an individual and a private company are related people if the individual is a majority shareholder or director of the company or of another private company that is a related body corporate of the company;
(d)an individual and a trustee of a trust are related people if the individual is a beneficiary of the trust (other than a public unit trust scheme);
(e)a private company and a trustee of a trust are related people if the company, or a majority shareholder or director of the company, is a beneficiary of the trust (other than a public unit trust scheme).
Definitions—pt 3.2
Section 78, definitions of associated person and landholderomit
Section 79
substitute
Meaning of landholder
For this Act, a landholder is an entity that has a landholding in the ACT.
Meaning of landholding—pt 3.2
Section 80 (2) (b)before
unit trust scheme
insert
private
New section 80 (5)
insert
(5)To remove any doubt, an agreement for the sale of land includes an agreement under which a Crown lease is granted to the purchaser.
Section 81
substitute
Constructive ownership of landholdings—linked bodies
(1)For this part, an entity is taken to hold an interest in land held by a linked body of the entity (a deemed interest) if, on the winding-up of all linked bodies of the entity—
(a)the entity would be entitled to a distribution of any of the property held by any of the linked bodies; and
(b)either or both of the following apply:
(i)any linked body would be entitled to receive at least 50% of the unencumbered value of all the property held by any other linked body;
(ii)if the unencumbered value of all the property held by each linked body were aggregated, the entity would be entitled to receive at least 50% of the aggregated unencumbered value.
(2)An entity’s deemed interest in land is in addition to any interest in land that the entity holds in its own right.
(3)In working out duty payable under this part, the value of an entity’s deemed interest in land held by a linked body is the portion of the unencumbered value of the property held by the linked body to which the entity would be entitled to receive on the winding-up of all linked bodies of the entity.
(4)In working out the value of property held by a body that an entity or linked body is entitled to receive, any liabilities of the first body must be disregarded.
(5)In this section:
body—
(a)includes—
(i)an entity; and
(ii)a partnership; and
(iii)a trust; but
(b)does not include—
(i)a discretionary trust; or
(ii)an individual; or
(iii)a listed company; or
(iv)a public unit trust scheme.
entitled—an entity or linked body that is a trust or partnership is taken to be entitled to receive property if—
(a)for a trust—a trustee of the trust is entitled to receive the property as a trustee; and
(b)for a partnership—a partner in the partnership is entitled to receive the property as a partner.
linked—a body is linked to another body if, on the winding-up of the first body, the other body would be entitled to receive the first body’s property (disregarding any liabilities of the first body).
linked body, of an entity, means a body which is part of a chain of bodies—
(a)that includes the entity; and
(b)in which each body is linked to the next body in the chain.
winding-up, of a linked body, means—
(a)any process in which any property held by the body is distributed; and
(b)if the linked body is a trust—the vesting of the trust’s property in its beneficiaries.
NoteFor working out the entitlement of a person to participate in a distribution of the property of a landholder, see s 92 (Maximisation of entitlements on distribution of property).
Meaning of associated person—pt 3.2
Section 83Aomit
What is a relevant acquisition?—pt 3.2
Section 86 (1) and notesubstitute
(1)For this part, a person makes a relevant acquisition if—
(a)the person acquires an interest in a landholder that—
(i)is of itself a significant interest in the landholder; or
(ii)when aggregated with other interests in the landholder held by the person or an associated person, results in an aggregation that amounts to a significant interest in the landholder; or
(iii)when aggregated with other interests in the landholder acquired by the person or other people in an associated transaction, results in an aggregation that amounts to a significant interest in the landholder; or
(b)the person or an associated person—
(i)has an interest in a landholder mentioned in paragraph (a); and
(ii)acquires a further interest in the landholder.
Example—relevant acquisition—par (a) (ii) and (b)
Jason and Tom are brothers. On 1 January 2021, Jason acquires a 20% interest in a landholder. On 1 October 2021, Tom acquires a 40% interest in the landholder. Tom makes a relevant acquisition under s 86 (1) (a) (ii) as, when aggregated with Jason’s earlier interest, the total interest in the landholder is 60%.
On 1 June 2022, Jason acquires a further 20% interest in the landholder. Jason, as an associated person of Tom, makes a relevant acquisition under s 86 (1) (b).
Section 87
substitute
Acquisition statements
(1)If a person makes a relevant acquisition, the person must prepare a statement in relation to the relevant acquisition (an acquisition statement).
(2)However, subsection (1) does not apply to a relevant acquisition prescribed by regulation.
(3)The person must give the commissioner the acquisition statement not later than 90 days after the relevant acquisition is made.
(4)The acquisition statement must include the following:
(a)the name, address and any email address of the person who made the relevant acquisition;
(b)the day the person made the relevant acquisition;
(c)details of the interest in the landholder acquired by the person as part of the relevant acquisition;
(d)details of the total interest in the landholder held by the person and any associated person on the day the relevant acquisition is made;
(e)the unencumbered value of all landholdings in the ACT of the landholder on—
(i)the day the relevant acquisition is made; and
(ii)if available—the day any other interest in the landholder is acquired within the relevant period for the relevant acquisition;
(f)any valuation report or other evidence of the unencumbered value of all landholdings in the ACT of the landholder on a day mentioned in paragraph (e);
(g)details of any amount of duty paid under this Act in relation to any other acquisition mentioned in paragraph (e) (ii);
(h)the unencumbered value of the property of the landholder on the day the person made the relevant acquisition;
(i)if the person is applying for an exemption from paying duty in relation to the relevant acquisition—evidence of the person’s eligibility for the exemption;
(j)anything else required by the commissioner.
(5)In this section:
valuation report—see section 90C (4).
Sections 89 and 90
substitute
Who is liable to pay duty on relevant acquisition?
(1)Duty payable for a relevant acquisition is jointly and severally payable by—
(a)the person who made the relevant acquisition; and
(b)the landholder in which the interest is acquired by the making of the relevant acquisition; and
(c)if the relevant acquisition is made because of an aggregation of interests under section 86 (1) (a) (ii)—each person whose interest is included in the aggregation; and
(d)if the relevant acquisition is made under section 86 (1) (b)—each person who has an interest mentioned in that provision.
(2)In this section:
landholder, for a private unit trust scheme, includes a trustee of the scheme.
Duty payable on relevant acquisitions—single interest
(1)This section applies if—
(a)a person acquires an interest in a landholder; and
(b)the person makes a relevant acquisition under section 86 (1) (a) (i) because the interest is a significant interest in the landholder; and
(c)within the relevant period for the relevant acquisition, no other interests in the landholder were acquired by—
(i)the person; or
(ii)an associated person; or
(iii)any other person in an associated transaction.
(2)The amount of duty payable in relation to the relevant acquisition is the amount worked out in accordance with the following steps:
(a)work out the amount (the dutiable amount) as follows:
(b)multiply the dutiable amount by the relevant rate.
(3)In this section:
relevant interest, for a relevant acquisition, means the interest in a landholder acquired by a person through the relevant acquisition expressed as a percentage of the total interest in the landholder.
relevant rate, for a relevant acquisition, means the determined rate in force on the day the relevant acquisition is made.
UVL, for a landholder in relation to a relevant acquisition, means the unencumbered value of all landholdings in the ACT of the landholder on the day the relevant acquisition is made.
NoteOther provisions may apply in working out duty payable under this section (see div 3.2.4).
90ADuty payable on relevant acquisitions—aggregated interests
(1)This section applies if—
(a)a person acquires an interest in a landholder; and
(b)when the interest is aggregated with at least 1 other interest in the landholder, the person makes a relevant acquisition under section 86 (1) (a) (ii) or (iii).
(2)The amount of duty payable in relation to the relevant acquisition is the amount worked out in accordance with the following steps:
(a)work out the amount as follows:
(b)for each other interest in the landholder acquired within the relevant period for the relevant acquisition (another acquisition)—work out the amount as follows:
(c)work out the amount (the dutiable amount) by adding together the amounts worked out under paragraphs (a) and (b);
(d)multiply the dutiable amount by the relevant rate;
(e)subtract any duty paid or payable under this division in relation to each other acquisition from the amount worked out under paragraph (d).
(3)To remove any doubt, if another acquisition is made on the same day as a relevant acquisition, the other acquisition is made within the relevant period for the relevant acquisition, regardless of the time on the day at which the other acquisition is made.
(4)In working out the dutiable amount, the commissioner may decide not to include an interest of an associated person as another acquisition under subsection (2) (b) if the commissioner is satisfied that the associated person acquired their interest independently and for no common purpose.
(5)In this section:
other interest, for another acquisition, means the interest in a landholder acquired by a person in the other acquisition expressed as a percentage of the total interest in the landholder.
relevant interest, for a relevant acquisition—see section 90 (3).
relevant rate—see section 90 (3).
unencumbered value determination, in relation to another acquisition—see section 90C (2).
UVL, for a landholder, means the unencumbered value of all landholdings in the ACT of the landholder—
(a)for a relevant acquisition—on the day the relevant acquisition is made; or
(b)for another acquisition—
(i)on the day the relevant acquisition is made; or
(ii)if the commissioner makes an unencumbered value determination in relation to the other acquisition—on the day the other acquisition is made.
NoteOther provisions may apply in working out duty payable under this section (see div 3.2.4).
90BDuty payable on relevant acquisitions—further interest
(1)This section applies if—
(a)a person makes a relevant acquisition under section 86 (1) (a) by acquiring an interest in a landholder (the initial acquisition); and
(b)the person or an associated person makes a relevant acquisition under section 86 (1) (b) because the person or an associated person acquires a further interest in the landholder (the further acquisition).
(2)The amount of duty payable in relation to the further acquisition is—
(a)if the initial acquisition is made within the relevant period for the further acquisition—the amount worked out in accordance with the following steps:
(i)work out the dutiable amount for the initial acquisition under—
(A)if the initial acquisition is an acquisition mentioned in section 86 (1) (a) (i)—section 90 (2) (a); or
(B)if the initial acquisition is an acquisition mentioned in section 86 (1) (a) (ii) or (iii)—section 90A (2) (a) to (c);
NoteIn working out the dutiable amount under s 90A, the commissioner may decide not to include an interest of an associated person if satisfied that the associated person acquired their interest independently and for no common purpose (see s 90A (4)).
(ii)work out the amount as follows:
(iii)add together the amounts worked out under subparagraphs (i) and (ii);
(iv)multiply the amount worked out under subparagraph (iii) by the relevant rate;
(v)subtract any duty paid or payable under this division in relation to the initial acquisition from the amount worked out under subparagraph (iv); or
(b)if the initial acquisition is not made within the relevant period for the further acquisition—the amount worked out in accordance with the following steps:
(i)work out the amount as follows:
(ii)multiply the amount worked out under subparagraph (i) by the relevant rate.
(3)In this section:
further interest, for a further acquisition, means the interest in a landholder acquired by a person in the further acquisition expressed as a percentage of the total interest in the landholder.
relevant rate, for a further acquisition, means the determined rate as in force on the day the further acquisition is made.
UVL, for a landholder in relation to a further acquisition, means the unencumbered value of all landholdings in the ACT of the landholder on the day the further acquisition is made.
NoteOther provisions may apply in working out duty payable under this section (see div 3.2.4).
90CUnencumbered value determination
(1)This section applies in relation to working out the duty payable for a relevant acquisition under section 90A in relation to an interest in a landholder.
NoteThis section may also apply in relation to working out the amount of duty payable in relation to a further acquisition under s 90B if s 90B (2) (a) (i) (B) applies.
(2)The commissioner may determine, in writing, the unencumbered value of all landholdings in the ACT of the landholder on the day another acquisition is made (an unencumbered value determination).
(3)The commissioner may make an unencumbered value determination only if the commissioner is satisfied that the unencumbered value of all landholdings in the ACT of the landholder on the day the other acquisition is made is supported by—
(a)a valuation report prepared by an accredited valuer not more than 12 months after the day the other acquisition is made; or
(b)any other evidence.
(4)In this section:
accredited valuer—see the Planning and Development Act 2007, dictionary.
another acquisition—see section 90A (2) (b).
valuation report, in relation to an interest in a landholder, means a document setting out the unencumbered value of landholdings in the ACT of the landholder on a stated day.
Valuation of property
Section 93 (1)omit
an acquisition statement
substitute
a relevant acquisition
Section 93 (1)
before
value of landholdings
insert
unencumbered
Section 93 (2)
omit
dutiable value of dutiable landholdings
substitute
unencumbered value of landholdings
Section 93 (2)
omit
dutiable value of the landholdings
substitute
unencumbered value of the landholdings
Section 94
substitute
Uncompleted agreements for sale or conveyance of land
(1)This section applies if—
(a)a person acquires an interest in a landholder; and
(b)the person makes a relevant acquisition; and
(c)at the time the relevant acquisition was made, either—
(i)both of the following apply:
(A)the landholder was the vendor under an uncompleted agreement for the sale or conveyance of land;
(B)the commissioner is satisfied that the agreement is subsequently completed; or
(ii)both of the following apply:
(A)the landholder was the purchaser under an uncompleted agreement for the sale or conveyance of land;
(B)the commissioner is satisfied that the agreement is subsequently rescinded or terminated.
(2)The commissioner must assess or reassess the duty payable in relation to the relevant acquisition as though the land the subject of the agreement was not, at the time the acquisition was made, a landholding of the landholder.
(3)In this section:
landholder includes a linked body of the landholder.
linked body—see section 81 (5).
Duty concession—acquisitions securing financial accommodation
Section 95 (1) (a)substitute
(a)a person—
(i)acquires an interest in a landholder; and
(ii)makes a relevant acquisition; and
(iii)tells the commissioner that the acquisition is made for the purpose of securing financial accommodation; and
Section 95 (2)
omit
the statement so far as it relates to the acquisition
substitute
the relevant acquisition
Section 95 (3)
omit
the statement
substitute
the relevant acquisition
When does liability for duty arise?
Section 103 (2)substitute
(2)This subsection applies to an allotment of shares by a territory company that is a private company—
(a)at another person’s direction; and
(b)in discharge of an obligation to the other person, whether the obligation arises as consideration for the purchase of property by the company or otherwise.
Exemptions—ch 3 transactions
Part 3.7 heading, new noteinsert
NoteThe exemptions from duty provided under this part are in addition to the exemptions under ch 11 (General exemptions from duty).
Exemption for relevant acquisitions
Section 115J (1)omit
to which section 87 (Acquisition statements) applies
Exemptions
Part 9.2 heading, new noteinsert
NoteThe exemptions from duty provided under this part are in addition to the exemptions under ch 11 (General exemptions from duty).
General exemptions from duty
Chapter 11 heading, new noteinsert
NoteThe exemptions from duty provided under this chapter are in addition to the exemptions under the following provisions:
(a)pt 2.5 (Exemptions);
(b)pt 3.7 (Exemptions—ch 3 transactions);
(c)pt 9.2 (Exemptions).
Objections
Section 252 (f)substitute
(f)under section 90A (4) including an interest of an associated person as another acquisition under section 90A (2) (b) in working out the dutiable amount; or
Dictionary, definitions of acquisition statement and associated person
substitute
acquisition statement, for chapter 3 (Certain transactions treated as transfers)—see section 87 (1).
associated person—see section 77A.
Dictionary, definition of Australian Stock Exchange
omit
Dictionary, new definition of Australian Securities Exchange
insert
Australian Securities Exchange means ASX Limited ACN 008 624 691.
Dictionary, definitions of chapter 3 transaction and complying superannuation fund
substitute
chapter 3 transaction—see section 76.
complying superannuation fund—
(a)means an entity that is—
(i)a complying superannuation fund under the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 42 or section 42A; or
(ii)an exempt public sector superannuation scheme under the Superannuation Industry (Supervision) Act 1993 (Cwlth), section 10 (1); and
(b)includes—
(i)a complying approved deposit fund; and
(ii)an eligible rollover fund.
Dictionary, definition of landholder
substitute
landholder—see section 79.
Dictionary, new definition of listed company
insert
listed company means a company whose shares are quoted on any of the following exchanges:
(a)the Australian Securities Exchange;
(b)the London Stock Exchange;
(c)the New York Stock Exchange;
(d)the New Zealand Exchange;
(e)an exchange that is a member of the World Federation of Exchanges;
(f)an exchange prescribed by regulation.
Dictionary, definition of listed trust
substitute
listed trust means a unit trust scheme whose units are quoted on any of the following exchanges:
(a)the Australian Securities Exchange;
(b)the London Stock Exchange;
(c)the New York Stock Exchange;
(d)the New Zealand Exchange;
(e)a stock exchange that is a member of the World Federation of Exchanges;
(f)an exchange prescribed by regulation.
Dictionary, definition of private company
substitute
private company means a company that is not a listed company.
Dictionary, definitions of related body corporate and related person
omit
Dictionary, definition of trustee, paragraphs (e) and (f)
omit
a marketable security
substitute
an interest in a landholder
Part 3Land Tax Act 2004
Land partly owned by corporation or trustee
Section 16 (1) (b) (i)substitute
(i)section 10 (Land exempted from s 9 generally), other than section 10 (1) (a) (viii); or
Section 16 (4)
omit
In subsection (2)
substitute
In this section
Payment of land tax
Section 17 (3)omit
section 56H (7) (Tax payable is charge on land)
substitute
section 56H (8)
Imposition of foreign ownership surcharge
Section 17E (2) (a)substitute
(a)section 10 (Land exempted from s 9 generally), other than section 10 (1) (a) (vii); or
Unit subdivisions—land tax
Section 27 (5) (b) (i)substitute
(i)section 10 (Land exempted from s 9 generally), other than section 10 (1) (a) (viii); or
Schedule 1Consequential amendments
Part 1.1Civil Law (Sale of Residential Property) Act 2003
(see s 3)
[1.1]Section 3, note 1
substitute
Note 1The dictionary at the end of this Act defines certain terms used in this Act, and includes references (signpost definitions) to other terms defined elsewhere.
For example, the signpost definition ‘units plan—see the Unit Titles Act 2001, section 7.’ means that the term ‘units plan’ is defined in that section and the definition applies to this Act.
[1.2]Section 6 (4), new definition of related person
insert
related person—see the Duties Act 1999, section 77A (3).
[1.3]Dictionary, definition of related person
omit
Part 1.2Land Tax Act 2004
[1.4]Dictionary, definition of associated person
substitute
associated person—see the Duties Act 1999, section 77A.
Endnotes
Presentation speech
Presentation speech made in the Legislative Assembly on 1 December 2022.
Notification
Notified under the Legislation Act on 11 April 2023.
Republications of amended laws
For the latest republication of amended laws, see certify that the above is a true copy of the Revenue Legislation Amendment Bill 2023, which originated in the Legislative Assembly as the Revenue Legislation Amendment Bill 2022 and was passed by the Assembly on 22 March 2023.
Clerk of the Legislative Assembly
© Australian Capital Territory 2023
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