State Revenue Legislation (Miscellaneous Amendments) Act 1998 (NSW)
| N e w | S o u th W ales |
State Revenue Legislation
(M iscellaneous Amendments) Act
1 9 9 8 N o 1 0 4
C o n t e n t s
Page
| Name of Act | 2 |
| Commencement | 2 |
| Amendment of Accommodation Levy Act 1997 No 32 | 3 |
| Amendment of Duties Act 1997 No 123 | 3 |
| Amendment of Land Tax Act 1956 No 27 | 3 |
| Amendment of Land Tax Management Act 1956 | |
| No 26 | 3 |
| 7 | Amendment of | Legal Profession Act 1987 No 109 | 3 |
| a | Amendment of | Pay-roll Tax Act 1971 No 22 | 3 |
| 9 | Amendment of | Stamp Duties Act 1920 No 47 | 3 |
10 Amendment of Taxation Administration Act 1996
| No 97 | 3 |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
Contents
Page
S ch ed u les
| Amendment of Accommodation Levy Act 1997 | 4 |
| Amendment of Duties Act 1997 | 8 |
| Amendment of Land Tax Act 1956 | 19 |
| Amendment of Land Tax Management Act 1956 | 20 |
| Amendment of Legal Profession Act 1987 | 21 |
| Amendment of Pay-roll Tax Act 1971 | 22 |
| Amendment of Stamp Duties Act 1920 | 27 |
| Amendment of Taxation Administration Act 1996 | 30 |
Contents page 2
New South Wales
State Revenue Legislation
(M iscellaneous Amendments) Act
1998 No 104
Act No 104, 1998
An Act to make miscellaneous amendments to certain State revenue legislation: and for other purposes. [Assented to 2 November 1998]
| Section 1 | State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104 |
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the State Revenue Legislation (Miscellaneous
Amendments) Act 1998.
2 Commencement
| ||
| (2) The following provisions commence. or are taken to have |
commenced. on the dates indicated:
Schedule l [l](in so far as it inserts the definition of club into section 4 of the Accommodation Levy Act 1997), [2 ] and [7] (in so far as it inserts section 11B into that Act) on l March 1999
Schedule 1 [ l ] (in so far as it inserts the definition of SOCOG into section 4 of the Accommodation Levy Act 1997) and [5] on 1 September 1997
Schedule 2 [l], [3]. [9]. [12]-[18]. [28]-[30], [36], [38], [39] (in so far as it inserts the definitions of managed investment scheme and responsible entity into the Dictionary to the Duties Act 1997) and [40]-[42] on 1 July 1998
Schedule 2 [4]-[8], [20], [21], [23], [26], [27]. [31]-[35] and [39] (in so far as it inserts the definition of public hospital into the Dictionary to the Duties Act 1997) on 1 January 1999
Schedule 2 [10] on the day on which the Bill for this
Act is introduced into the Legislative Assembly
Schedule 3 on 1 January 1999
Schedule 6 [2] and [3] on 1 January 1999
Schedule 6 [4] and [5] on 1 July 1998
| State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104 | Section 2 |
Schedule 6 [7] (in so far as it inserts section 10 ( l ) (p) into the Pay-roll Tax Act 1971) on 31 July 1997 Schedule 6 [7] (in so far as it inserts section 10 ( l ) (q) into the Pay-roll Tax Act 1971) on l July 1998 Schedule 6 [8]-[13] on 1 July 1999
Schedule 7 [l] and [4]-[8] on 22 June 1998
Schedule 7 [9]-[11] on 1 January 1999.
| (3) | Sections 3-10 in their application to a provision of Schedules 1-8 commence, or are taken to have commenced, on the day on which the provision commences or is taken to have commenced. |
3 Amendment of Accommodation Levy Act 1997 No 32
The Accommodation Levy Act 1997 is amended as set out in
Schedule 1.
4 Amendment of Duties Act 1997 No 123
The Duties Act 1997 is amended as set out in Schedule 2.
5 Amendment of Land Tax Act 1956 N o 27
The Land Tax Act 1956 is amended as set out in Schedule 3.
6 Amendment of Land Tax Management Act 1956 No 26
The Land Tax Management Act 1956 is amended as set out in
Schedule 4.
7 Amendment of Legal Profession Act 1987 No 109
The Legal Professional Act 1987 is amended as set out in Schedule
5.
8 Amendment of Pay-roll Tax Act 1971 No 22
The Pax-roll Tax Act 1971 is amended as set out in Schedule 6.
9 Amendment of Stamp Duties Act 1920 No 47
The Stamp Duties Act 1920 is amended as set out in Schedule 7.
10 Amendment of Taxation Administration Act 1996 No 97
The Taxation Administration Act 1996 is amended as set out in
Schedule 8.
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 1 | Amendment of Accommodation Levy Act 1997 |
| Schedule 1 | Amendment of Accommodation Levy Act 1997 |
(Section 3)
Section 4 Definitions
Insert in alphabetical order:
club means premises owned or .operated by a club that is
registered under the Registered Clubs Act 1976.
SOCOG means the Sydney Organising Committee for
the Olympic Games constituted by the Sydney Organising Committee fo r the Olympic Games Act 1993.
Section 7 P laces of accommodation
Omit section 7 ( l ) (g). Insert instead:
| (g) | a club, |
[3] Section 7 (2) (f) and (3 )
Omit "Treasurer" wherever occurring. Insert instead "Minister".
[4] Section 9 Amount of levy
Insert “, except as provided by this section" after “section 6".
[5] Section 9 (2) and (3)
Insert at the end of section 9:
| (2) | The amount of the accommodation levy in relation to a place of accommodation that is affected by an Olympic contract is: | |||
|
August 1998 (both dates inclusive).
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Accommodation Levy Act 1997 | Schedule 1 |
(3) For the purposes of this section, a place of
accommodation is affected by an Olympic contract if:
| (a) | it is subject to a contract with SOCOG that was entered into on or before 31 December 1997 and by which accommodation is committed to the Games of the XXVII Olympiad in Sydney in the year 2000, or |
| (b) | the manager of the place of accommodation was not presented with a contract by SOCOG on or before 31 December 1997 for the purpose of seeking the commitment of accommodation to the Games of the XXVII Olympiad in Sydney in the year 2000. |
[6] Section 11 Exclusion of certain charges
Insert at the end of section 11:
| (2) | A reasonable amount paid or payable for booking fees or commissions is not an amount paid or payable for residential accommodation for the purposes of this Act. |
| (3) | An amount paid or payable for residential accommodation provided in a dormitory that has communal or self-catering facilities is not an amount paid or payable for residential accommodation for the purposes of this Act. |
| (4) | An amount paid or payable for residential accommodation provided under the Homestay or Homehost programs for the Games of the XXVII Olympiad in Sydney in the year 2000 is not an amount paid or payable for residential accommodation for the purposes of this Act. |
| (5) | An amount paid or payable for residential accommodation provided as overflow accommodation at the request of a welfare organisation is not an amount paid or payable for residential accommodation for the purposes of this Act. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 1 | Amendment of Accommodation Levy Act 1997 |
[7 ] Sections 11A and 11B
Insert after section 11:
11A Occupation in e x c e ss of 28 consecutive days
| (1) | If the same natural person occupies the same room within a place of accommodation for a period of consecutive days that exceeds 28 days, no accommodation levy is chargeable on any amount paid or payable for the person's accommodation in that room during that part of that consecutive period that exceeds 28 days. |
| (2) | This section extends to a period of accommodation that commenced before the commencement of this section. |
11B Club accommodation for members
| ( 1) | An amount paid or payable by a member of a club for residential accommodation provided at the club to the member is not an amount paid or payable for residential accommodation for the purposes of this Act. |
| (2) | In this section. member of a club means a person who is a full member of the club within the meaning of the Registered Clubs Act 1976. |
[8] Section 14 Periodic returns
Omit section 14 (1). Insert instead:
| (1) | The manager of a place of accommodation must, on or before each return date specified in the following Table in each year: | |
|
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Accommodation Levy Act 1997 | Schedule 1 |
| (b) | pay the amount of accommodation levy required to be paid under this Act for that return period. |
Table
|
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 2 | Amendment of Duties Act 1997 |
| Schedule 2 | Amendment of Duties Act 1997 |
(Section 4)
[1] Section 8 Imposition of duty on certain transactions concerning dutiable property
Omit "statute o r" from section 8 (1) (b) (v).
[2] Section 8 (3)
| Omit "and an exchange" from the definition of transfer. Insert instead “ , an exchange and a buy-back of shares in accordance |
with Division 2 of Part 2J.1 of the Corporations Law ".
[3] Section 9 Imposition of duty on dutiable transactions that are not transfers
Omit the matter relating to “vesting by statute" from Columns 1-4 of the Table to section 9 (2).
[4] Section 11 What is "dutiable property"?
| (g) (ii). |
Omit “a dutiable transaction that includes goodwill" from section 11 over goodwill".
[5] Section 11 (j)
Omit “a dutiable transaction together with any dutiable property". Insert instead "an arrangement that includes a dutiable transaction over any dutiable property".
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Duties Act 1997 | Schedule 2 |
[6] Section 30 Partitions
Omit section 30 (3). Insert instead:
| (3) | Dutiable value |
| The dutiable value (D V ) of a partition is to be determined in accordance with the following formula: |
X Y
where:
A is the sum of the amounts by which the unencumbered value of the property transferred or agreed to be transferred to a person exceeds the unencumbered value of the interest held by the person in that property immediately before the partition, or the sum of any consideration for the partition paid by any of the parties, whichever is the greater, and
X is the unencumbered value of all dutiable property the subject of the partition. and
Y is the unencumbered value of all property the subject of the partition.
[7 ] Section 31
Omit the section. Insert instead:
31 Effect of alteration in purchase price
| (1) | If after an agreement for the sale or transfer of dutiable property is entered into and before the property is transferred: | |
|
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 2 | Amendment of Duties Act 1997 |
| (b) | the consideration under the agreement is reduced because the parties have agreed not to transfer some of the dutiable property previously agreed to be transferred and the reduced consideration is not less than the unencumbered value of the dutiable property that remained to be transferred when the consideration was reduced, or |
| (c) | the consideration under the agreement is increased and the dutiable value when the consideration was increased is greater than the dutiable value when the agreement was entered into, |
the Chief Commissioner must assess or reassess the liability to duty of the agreement in accordance with the change in the consideration.
| (2) | The liability to pay additional duty arising from an increase in the consideration occurs on the date the consideration is agreed to be increased. |
Section 33 Shares, units, derivatives and interests (marketable securities)
Insert “or the Stock Exchange of Newcastle" after “the Australian
Stock Exchange" in section 33 (2).
Section 48 Certain transfers not chargeable with duty
Insert “54A” after “54,” in section 48 (2).
| Section | 49A |
Insert after section 49:
49A Purchases "off the plan"
| ( l ) | An agreement for the sale or transfer of dutiable property. being land on which a residence is to be erected or developed before completion of the sale or transfer. may be stamped "interim stamp only" if: |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Duties Act 1997 | Schedule 2 |
| (a) | duty, estimated as 5% of the duty payable in respect of the agreement, is paid, and |
| (b) | the purchaser enters into an undertaking in a form approved by the Chief Commissioner as to payment of the balance of the duty. |
| (2) | The balance of the duty is payable: | |||||
| ||||||
| whichever first occurs. | ||||||
| (3) | A tax default does not occur for the purposes of the Taxation Administration Act 1996 if the balance of the duty is paid within 3 months after it becomes payable in accordance with subsection (2). |
[11] Section 54 Change in trustees
Omit "Part 9.11” from section 54 (4 ). Insert instead "Part 11.2”.
[12] Section 54A
Insert after section 54:
54A Transfer to custodian of managed investment schem e
Duty of $10 is chargeable in respect of a transfer of dutiable property from a responsible entity of a managed investment scheme or a trustee of a responsible entity to a custodian or agent of the responsible entity.
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 2 | Amendment of Duties Act 1997 |
Section 59 Instrument relating to managed investm ent schem e
Insert “or governs” after “establishes” in section 59 (1) (a).
Section 59 (2)
Omit the subsection. Insert instead:
| (2) | Duty of $10 is chargeable in respect of a declaration of | |||
| trust: | ||||
|
| [15] | Section | 62 Transfers to trustees | or | custodians | of |
superannuation funds or trusts
Insert ”or redemption” after ”issue“ in section 62 (2).
Section 65 Exem ptions from duty
Insert ”(and a reference in this paragraph to a mortgage includes a reference to a charge and an interest in a mortgage)” after “mortgage” where secondly occurring in section 65 (1) (d).
Section 65 (1) (g)
Insert after section 65 (1) (f):
| (g) | the vesting of dutiable property in a statutory trust as a consequence of the making of an order under section 66G of the Conveyancing Act 1919. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Duties Act 1997 | Schedule 2 |
[18] Section 65(6)
Insert after section 65 (5 ):
| (6) | Transfer or vesting of liquor licence by court order | |||
| No duty is chargeable under this Chapter on the transfer or vesting of a liquor licence by order of a court under section 41, 42 or 61 of the Liquor Act 1982 if the Chief Commissioner is satisfied that: | ||||
|
[19] Section 66 Exem ptions-m arketablesecurities
| Omit “Division 4B of Part 2.4" from section 66 (5). Insert instead "Division 2 of Part 25.1". |
[20] Section 67 E xem ptions-transfersto married cou p les and de facto partners
Omit "the whole o f" from section 67 ( l ) (a).
[21] Section 67 (1A)
Insert after section 67 (1):
| (1A) | For the purposes of subsection (1) (b). a private dwelling house may be principally used as the principal place of residence of a married couple or de facto partners despite the fact that it may be partly owned by another person or persons or that it may also be the principal place of residence of another person or persons. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 2 | Amendment of Duties Act 1997 |
Section 125 Definitions
Omit “Division 4B of Part 2.4” from paragraph (a) of the definition
of capital reduction in section 125 (1).
Insert instead “Division 2 of Part 2 J . 1 ”.
Section 145 Imposition of duty
Omit section 145 (2) (a) and (b). Insert instead:
| (a) | in the case of a manual client order. it is received by an individual who is a broker. or the employee or agent of a broker: | |||
| ||||
| (b ) | in the case of an automated client order. it is received by a broker by electronic means: | |||
|
[24] Section 145 (3A)
Insert after section 145 (3):
| (3A) | For the purposes of this Chapter. a reference to a sale or purchase of marketable securities includes a reference to a transaction that. on completion by the parties. results in a company buying back its own shares in accordance with Division 2 of Part 2J.1 of the Corporations Law. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Duties Act 1997 | Schedule 2 |
Section 149 Exemptions
Omit “Division 4B of Part 2.4” from section 149 ( l ) (e).
Insert instead “Division 2 of Part 2J.1”.
Section 152 Marketable securities held on broker's own account
Insert “or reports” after “effects” in section 152 (3).
Section 199 Lodgment of returns and payment of duty
Omit “the duty-free threshold” from section 199 (3).
Insert instead “$6.000”.
Section 208 When d o es a liability arise?
Insert after section 208 (3):
| (4 ) | An instrument that. on the deposit of documents of title to property in New South Wales or instruments creating a charge on property in New South Wales. becomes a mortgage or evidences the terms of a mortgage becomes liable to duty as a mortgage on the deposit of the documents or instruments. |
Section 210 How is mortgage duty charged?
Omit ”first execution of a mortgage is“ from section 210 (1).
Insert instead “a mortgage is. except as provided by subsection (2),
Section 222 Exempt m ortgages and supporting instruments
Omit section 222 (5 ) . Insert instead:
| (5 ) | Duty is not chargeable on an instrument referred to in section 205 (d ) if it is executed for the purposes of money market trading operations conducted or to be conducted by the person executing the instrument. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 2 | Amendment of Duties Act 1997 |
| (6) | Duty is not chargeable in respect of a mortgage: | |||||
|
[31] Section 225 Certain debentures and related instruments
Omit section 225 (1) and (2). Insert instead:
| (1) | Mortgage duty is not chargeable on a mortgage solely securing the repayment of advances arising from the issue by a financial corporation or a related corporation of a debenture. |
| (2) | Mortgage duty is not chargeable on a mortgage in respect of advances arising from the issue by a financial corporation or a related corporation of a debenture if the mortgage secures in part the repayment of those advances. |
Section 226 Payment of duty on m ortgages associated with debenture is su e s
Omit section 226 (2). Insert instead:
| (2) | If the corporation and the trustee for the debenture holders give a written undertaking in the approved form to the Chief Commissioner: | |||
|
| P age | 16 |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Duties Act 1997 | Schedule 2 |
| (c) | a mortgage, whether executed by the corporation or by another party, and securing in part the repayment of such money is not liable to mortgage duty in respect of advances arising from the issue of debentures. |
Section 275 Charitable or benevolent so c ie ties or institutions
Omit “the transfer, agreement or declaration of trust” from section
275 (b).
Insert instead “the dutiable transaction or instrument”.
Section 281 Members of a group of corporations
Omit section 281 (1). Insert instead:
| (1) | Duty under this Act is not chargeable on a dutiable transaction approved by the Chief Commissioner in accordance with guidelines approved by the Treasurer by which dutiable property is transferred by, or agreed to be transferred by, or vests in. a corporation that is a member of a group of corporations to another corporation that is a member of the same group. |
Section 281 (4)
Insert after section 281 (3):
| (4) | In this section. corporation includes a unit trust scheme. |
Sections 301 and 304
Omit ”marked” wherever occurring. Insert instead “stamped”.
Schedule 1 Savings, transitional and other provisions
Insert at the end of clause l ( 1):
State Revenue Legislation (Miscellaneous Amendments)
Act 1998
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 2 | Amendment of Duties Act 1997 |
[38] Dictionary
Insert “scheme” after “public unit trust” wherever occurring in paragraphs (d) and (e) of the definition of associated person.
[39] Dictionary
Insert in alphabetical order:
managed investment scheme means a managed investment scheme within the meaning of the Corporations Law that complies with Chapter 5C of that Law, and includes a public unit trust scheme.
public hospital means a public health organisation within
the meaning of the Health Services Act 1997.
responsible entity of a managed investment scheme has
the same meaning as in the Corporations Law.
[40] Dictionary, definition of “public unit trust schem e”
Insert after paragraph (b):
(b1) that is a managed investment scheme within the meaning of the Corporations Law that complies with Chapter 5C of that Law and in respect of which:
(i) some or all of the units have been offered to the public. and
(ii) not less than 50 persons hold units in it. or
[41] Dictionary, definition of “related person”
Insert ”scheme“ after “public unit trust” wherever occurring in paragraphs (d) and (e) of the definition of related person.
[42] Dictionary, definition of “right”
| ||
| ”consideration‘‘. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Land Tax Act 1956 | Schedule 3 |
| Schedule 3 | Amendment of Land Tax Act 1956 |
(Section 5)
Section 5 Land tax liability of certain corporations
Omit the section.
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 4 | Amendment of Land Tax M anagement Act 1956 |
| Schedule 4 | Amendment of Land Tax Management Act 1956 |
(Section 6 )
[1] Section 10A Residential u se and occupation—con cessio n on death of owner
Omit "and for no other purpose" from section 10A (1).
[2] Section 10A (3 ) (a)
Omit "and for no other purpose".
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Legal Profession Act 1987 | Schedule 5 |
| Schedule 5 | Amendment of Legal Profession Act |
| 1987 |
(Section 7)
Section 171P Offence: improper disclosure of information
Insert at the end of section 171P:
| (2) | Subsection (1) does not apply to the disclosure of information by the Commissioner. or a member of the Law Society Council, to the Chief Commissioner of State Revenue. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 6 | Amendment of Pay-roll Tax Act 1971 |
| Schedule 6 | Amendment of Pay-roll Tax Act 1971 |
(Section 8 )
[1] Section 3AA Wages
Omit "30 June" from section 3AA (6A). Insert instead “ 1 July".
[2] Section 3A Application of this Act to certain contracts
Insert after section 3A (1A):
| (1B) | For the purposes of this section, a contract under which services are supplied by an employment agent, or a contract worker is procured by an employment agent, under an employment agency contract within the meaning of section 3C is not a relevant contract. |
[3] Section 3C
Insert after section 3B:
3C Employment agents
| (1) | For the purposes of this Act, an employment agency contract is a contract under which a person (in this section referred to as an employment agent) by arrangement procures the services of another (in this section referred to as a contract worker) for a client of the employment agent (by a means other than a contract of employment between the contract worker and the client) and as a result receives directly or indirectly payment in respect of the services provided by the contract worker to the client. whether by way of a lump sum or ongoing fee. during or in respect of the period when the services are provided. | |
| (2) | For the purposes of this Act: | |
|
agency contract is taken to be an employer. and
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Pay-roll Tax Act 1971 | Schedule 6 |
| (b) | the contract worker under an employment agency contract is taken to be an employee of the employment agent, and | |||||
| (c) | an amount, the value of a benefit or a payment. being: | |||||
| ||||||
| is taken to be wages paid or payable by the employment agent. |
If it is not reasonably practicable to determine the extent to which an amount. benefit or payment constitutes wages under subsection (2) (c), the Chief Commissioner may accept a return. or make an assessment, in which the amount on which pay-roll tax is levied is determined on the basis of estimates.
An employment agent is not liable to pay-roll tax under this Act in relation to an employment agency contract:
| (a) | if the contract worker is liable to pay pay-roll tax (as the employer of the person who actually provides the services to the client of the employment agent under the contract) in respect of wages paid for those services. or |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 6 | Amendment of Pay-roll Tax Act 1971 |
| (b) | if the wages that the amount, value of the benefit or payment under subsection (2) (c) is taken to be would have been exempt from pay-roll tax under section 10 had the contract worker been paid those wages by the client of the employment agent, or |
| (c) | if the client of the employment agent is not registered or required to be registered as an employer under this Act at the time the employment agency contract is entered into and a declaration to that effect has been given by the client to the employment agent. |
| (5 ) | If, after a client gives a declaration referred to in subsection (4) (c) to an employment agent, the client becomes registered or is required to be registered as an employer under this Act, the client is liable to pay pay-roll tax in respect of the wages paid under the employment agency contract during each financial year in which the client is registered or is required to be registered. |
[4] Section 10 Exemption from pay-roll tax
Insert after section 10 (1) (b1):
(b2) by the Home Care Service.
[5] Section 10 (1) ( c l )
Insert after section 10 (1) (c):
| (c 1) | by the Home Care Service to a person in respect of time when the person is engaged in work of a kind ordinarily performed in connection with the conduct of the Home Care Service, |
[6] Section 10 (1) (m)
| Omit “Department of Industrial Relations and Employment". Insert instead “Department of Training and Education". |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Pay-roll Tax Act 1971 | Schedule 6 |
Section 10 (1) (p) and (q )
Insert after section 10 (1) (o):
, or
| (p) | to an employee in respect of any period during which the employee was taking part in emergency operations as a member of an emergency services organisation under the State Emergency and Rescue Management Act 1989 (but not in respect of wages paid or payable as recreation leave, annual leave, long service leave or sick leave), or |
| (q) | that would be exempt from the payment of income tax by the employee under section 23 (z) of the Income Tax Assessment Act 1936 of the Commonwealth. |
Sections 16D and 16G
Omit "5 0 per centum or more'' wherever occurring.
Insert instead "more than 50% ".
Section 16DA Grouping of government departments
Omit section 16DA (2).
Section 16E Smaller groups subsum ed into larger groups
Insert after section 16E (1):
| (1A) | If the members of a group (in subsection (2) referred to as a smaller group) have together a controlling interest in a business, that group and the person or persons who carry on that business will constitute, for the purposes of this Act, one group. |
Section 16E (2)
Insert "or ( 1A)" after “ (1 )” wherever occurring.
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 6 | Amendment of Pay-roll Tax Act 1971 |
Section 16H Exclusion of persons from groups
Insert “constituted under section 16C” after “group” where firstly occurring in section 16H ( l) .
Section 16H (2)
Omit the subsection.
Schedule 6 Savings, transitional and other provisions
Insert at the end of clause 1 ( 1):
State Revenue Legislation (Miscellaneous Amendments)
Act 1998
Schedule 6 , Part 4
Insert after Part 3:
| Part 4 | Provisions consequent on the enactment of the State Revenue Legislation (M iscellaneous Amendments) Act 1998 |
6 Payment of pay-roll tax on employment agency
contracts
An amount, benefit or payment paid or payable, or provided. on or after 1 July 1999 under an employment agency contract within the meaning of section 3C that was entered into before the date of commencement of that section is liable to pay-roll tax under this Act. subject to section 3C (4).
7 Grouping of commonly controlled b u sin e sses
An order made under section 16H that is in force immediately before the commencement of the amendments made to that section by the State Revenue Legislation (Miscellaneous Amendments) Act 1998 and that could not have been made if those amendments had been in force at the time the order was made ceases to have effect on 1 July 1999 if it does not cease to have effect on an earlier date.
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Stamp Duties Act 1920 | Schedule 7 |
| Schedule 7 | Amendment of §tamp Duties Act 1920 |
(Section 9)
[1] Section 98 Definitions
Insert in alphabetical order in section 98 (1):
RTGS transaction means:
| (a) | a transaction governed by the regulations of the Reserve Bank Information and Transfer System, or |
| (b) | a transaction governed by the regulations of Austraclear, or |
| (c) | a transaction governed by the regulations of the Society for Worldwide Interbank Financial Telecommunications Payment Delivery System. |
[2] Section 98 (9)
| Omit "bank cheque”. Insert instead “cheque that a financial institution draws on itself". |
[3] Section 98A R eceipts to which this Division d o es not apply
Insert after section 98A ( l ) (e):
(ea) a receipt to the credit of a farm management deposit as a consequence of a transfer of an amount held in an income equalisation deposit or a farm management bond by the Department of Primary Industry and Energy of the Commonwealth, or
[4] Section 98A (1) (oa)
Insert after section 98A(1) (o):
(oa) a receipt as a consequence of the credit to an exchange settlement account of a financial institution kept by the Reserve Bank of Australia. being a receipt from an RTGS transaction. or
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 7 | Amendment of Stamp Duties Act 1920 |
Section 98U Exempt accounts
Insert after section 98U (1) (p):
| (p1) | a settlement account kept by a registered person in the name of a customer (other than a registered person), being an account that is used solely for the purposes of recording RTGS transactions and the balance of which is swept by the end of each day to another account in the name of the same customer, or |
Section 98U (3 ) and (6 )
Omit “bank” wherever occurring. Insert instead "registered person".
Section 98U (5A)
Omit “ a bank account".
Insert instead "an account kept by a registered person".
Section 98U (5A)
Omit “bank concerned".
Insert instead "registered person concerned".
Tenth Schedule Savings, transitional and other provisions
Insert at the end of clause 1A (1):
State Revenue Legislation (Miscellaneous Amendments)
Act 1998
[10] Tenth Schedule
Omit "or in respect of death duty" from clause 27.
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Amendment of Stamp Duties Act 1920 | Schedule 7 |
[11] Tenth Schedule
Insert after Part 16:
| ||
| 49 Abolition of liability for death duties |
| (1) | Any liability for the payment of death duty under this Act existing before 17 December 1991 (the date of assent to the Stamp Duties (Amendment) Act 1991) is extinguished. |
| (2) | A person is not entitled to a refund of any death duty paid under this Act before the commencement of this clause. |
State Revenue Legislation (Miscellaneous Amendments) Act 1998 No 104
| Schedule 8 | Amendment of Taxation Administration Act 1996 |
| Schedule 8 | Amendment of Taxation Administration Act 1996 |
(Section 10)
[1] Section 82 Permitted disclosures-toparticular persons
Insert after section 82 (e) (viii):
(viiia) the Legal Services Commissioner. a member of the Law Society Council or a trust account inspector, or investigator, appointed under section 55 of the Legal Profession Act 1987, or
[2] Section 86 Objection
Insert after section 86 (1):
| (1A) | A reference in subsection (1) (a) to an assessment does not include a reference to a reassessment as a result of an objection that is allowed in part. |
[Minister's second reading speech made in— Legislative Assembly on 14 October 1998 Legislative Council on 21 October 1998]
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