Revenue Measures Act 2012 (TAS)

Revenue Measures Act 2012

An Act to amend the Duties Act 2001 and the Vehicle and Traffic Act 1999

[Royal Assent 12 July 2012]

Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:

PART 1Preliminary1Short titleThis Act may be cited as the Revenue Measures Act 2012 . 2CommencementThis Act commences on 1 October 2012. PART 2Duties Act 2001 Amended3Principal ActIn this Part, the Duties Act 2001 is referred to as the Principal Act. 4Section 29 amended (General rate) Section 29 of the Principal Act is amended by omitting subsection (1) and substituting the following subsection: (1)  The rate of duty chargeable on a dutiable transaction is as follows:

The dutiable value of the dutiable property subject to the dutiable transaction	Rate of duty
Not more than $1 300	$20
More than $1 300 but not more than $25 000	$20 plus $1.75 for every $100, or part, by which the dutiable value exceeds $1 300
More than $25 000 but not more than $75 000	$435 plus $2.25 for every $100, or part, by which the dutiable value exceeds $25 000
More than $75 000 but not more than $200 000	$1 560 plus $3.50 for every $100, or part, by which the dutiable value exceeds $75 000
More than $200 000 but not more than $375 000	$5 935 plus $4 for every $100, or part, by which the dutiable value exceeds $200 000
More than $375 000 but not more than $725 000	$12 935 plus $4.25 for every $100, or part, by which the dutiable value exceeds $375 000
More than $725 000	$27 810 plus $4.50 for every $100, or part, by which the dutiable value exceeds $725 000

5Section 166 amended (What duty is payable?) Section 166 of the Principal Act is amended by omitting "8%" and substituting "10%". 6Section 221 amended (Motor accident premium certificates) Section 221(3) of the Principal Act is amended by omitting "$6" and substituting "$20". 7Section 259E insertedAfter section 259D of the Principal Act , the following section is inserted in Part 3: 259ETransitional provisions consequent on the enactment of Part 2 of the Revenue Measures Act 2012 (1)  If one or more transactions which were liable for duty prior to 1 October 2012 are to be aggregated with one or more transactions which are liable for duty on or after 1 October 2012 in accordance with section 22 or under section 71 , the duty chargeable on the transaction or transactions liable for duty on or after 1 October 2012 is to be calculated in accordance with the following formula: where – DP is the duty payable; B is the duty calculated on the dutiable value of the aggregated transactions in accordance with the general rate of duty that was in effect on 1 October 2012; A is the duty calculated on the dutiable value of the aggregated transactions in accordance with the general rate of duty that was in effect on 30 September 2012; D is the dutiable value of the aggregated transaction or transactions that are liable for duty on or after 1 October 2012; T is the total dutiable value of the aggregated transactions. (2)  For the purposes of sections 22(4) and 71(3) , the duty payable in accordance with section 22 or under section 71 is taken to be the duty chargeable in accordance with this section. PART 3Vehicle and Traffic Act 1999 Amended8Principal ActIn this Part, the Vehicle and Traffic Act 1999 is referred to as the Principal Act. 9Section 34 amended (Imposition of motor tax for light vehicles) Section 34(4) of the Principal Act is amended by omitting "2007" and substituting "2012". 10Schedule 1 substituted Schedule 1 to the Principal Act is repealed and the following Schedule is substituted: Schedule 1Rates of Motor Tax for Light Vehicles

Section 34

PART 1Class A light vehicles

Type of Vehicle	Tax payable $
1.	A motor vehicle propelled by a piston engine with 3 or fewer cylinders	102
2.	A motor vehicle propelled by a piston engine with 4 cylinders	119
3.	A motor vehicle propelled by a piston engine with 5 or 6 cylinders	149
4.	A motor vehicle propelled by a piston engine with 7 or 8 cylinders	204
5.	A motor vehicle propelled by a piston engine with more than 8 cylinders	229
6.	A motor vehicle propelled by a rotary engine or an electric motor	119

PART 2Other light vehicles

Type of Vehicle	Tax payable $
1.	A truck with a GVM of 3.0 tonnes or more –
(a) propelled by a piston engine with 4 or fewer cylinders	229
(b) propelled by a piston engine with 5 or 6 cylinders	266
(c) propelled by a piston engine with 7 or 8 cylinders	305
(d) propelled by a piston engine with more than 8 cylinders	343
(e) propelled by a rotary engine or an electric motor	229
2.	A bus with 10 adult seats including the driver’s seat	151
3.	A bus with more than 10 adult seats including the driver’s seat	266
4.	A motor cycle	17
5.	A trailer with a GVM of 4.5 tonnes or less	22
6.	A tractor	114

PART 4Repeal11Repeal of ActThis Act is repealed on the ninetieth day from the day on which it commences.

[Second reading presentation speech made in:

House of Assembly on 21 JUNE 2012

Legislative Council on 27 JUNE 2012]