State Taxation Acts Amendment Act 2023 (Vic)

State Taxation Acts Amendment Act 2023

No. 18 of 2023

table of provisions

Section  Page

Part 1—Preliminary

1Purposes

2Commencement

Part 2—Amendment of Duties Act 2000

Division 1—Corporate collective investment vehicles

3Definitions

4New section 3J inserted

5New Part 3A of Chapter 11 inserted

Division 2—Special disability trusts and persons with a disability

6New section 32XJ inserted

7Special disability trusts

8New sections 38AB to 38AF inserted

9New Division 4B of Part 5 of Chapter 2 inserted

Division 3—Pensioner and concession card duty reduction

10Definitions

11What is the consideration for the transfer of dutiable property?

12Exemption or concession for new homes in City of Melbourne

13Heading to Division 5 of Part 5 of Chapter 2 amended

14New section 58AA inserted

15Section 58 amended

16Sections 59 and 60 substituted and new sections 60AA to 60AAE inserted

17Section 60A amended

18Eligible mortgages under concession schemes

19Transitional provisions

Division 4—Insurance duty

20Definitions

21Section 179 substituted

Division 5—Statute law revision

22Statute law revision amendments

Part 3—Amendment of Fire Services Property Levy Act 2012

23Refund of amounts overpaid

24Cancellation of assessment of liability to pay levy amount made in error

Part 4—Amendment of Land Tax Act 2005

Division 1—Corporate collective investment vehicles

25Definitions

26New section 3G inserted

Division 2—Land tax rates

27Land tax surcharge for absentee trusts

28Land tax for absentee fixed trust if beneficial interests notified to Commissioner

29Land tax for absentee unit trust scheme if unitholdings notified to Commissioner

30Land tax for beneficiary/trustees

31Land tax for PPR land if nominated PPR beneficiary

32Land tax surcharge for related absentee corporations

33BTR benefit—exemption from absentee owner land tax surcharge for eligible land

34Clause 1.5 of Part 1 of Schedule 1 amended

35New clause 1.6 of Part 1 of Schedule 1 inserted

36Clause 3.5 of Part 3 of Schedule 1 amended

37New clause 3.6 of Part 3 of Schedule 1 inserted

38Clause 4.4 of Part 4 of Schedule 1 amended

39New clauses 4.5 and 4.6 of Part 4 of Schedule 1 inserted

40Clause 5.4 of Part 5 of Schedule 1 amended

41New clauses 5.5 and 5.6 of Part 5 of Schedule 1 inserted

Division 3—Principal place of residence exemption for person with a disability (qualifying)

42Definitions

43New section 53B inserted

44Principal place of residence exemption

45Deferral of tax on certain residential land for 6 months

46Deferral of tax for residential land to be used during tax year

47Absence from principal place of residence

48Exemption continues on death of resident

49Exemption continues if land becomes unfit for occupation

50Sale of old principal residence

51Partial exemption if land used for business activities

Division 4—Construction and renovation of principal place of residence

52Unoccupied land subsequently used as principal place of residence

53New section 61I inserted

Division 5—Conservation covenants

54New section 86A inserted

Division 6—Statute law revision

55Statute law revision amendments

Part 5—Amendment of Payroll Tax Act 2007

Division 1—Corporate collective investment vehicles

56Definitions

57New Part 1A of Schedule 2 inserted

Division 2—Payroll tax liability

58Definitions—Schedule 1

Division 3—COVID-19 debt temporary payroll tax surcharge

59Definitions—Schedule 1

60New clause 1B of Schedule 1 inserted

61Payroll of employer over threshold

62Payroll of group over threshold where section 87(2) approval in force—employers covered by joint return are all of the same type

63Payroll of group over threshold where section 87(2) approval in force—employers covered by joint return are not all of the same type

64Payroll of group over threshold—where no section 87(2) approval in force

65Calculation of payroll tax

66Definitions—Schedule 2

67New clause 1B of Schedule 2 inserted

68Amount of payroll tax to be paid each month

69Monthly payroll tax payable where section 87(2) approval in force—employers covered by joint return are all of the same type

70Monthly payroll tax payable where section 87(2) approval in force—employers covered by joint return are not all of the same type

71Monthly payroll tax payable where no section 87(2) approval in force

72Amount of payroll tax to be paid each month

Division 4—Payroll tax thresholds and deductions

73Registration

74Definitions—Schedule 1

75Payroll of employer over threshold

76Clause 7A of Schedule 1 substituted

77Definitions—Schedule 2

78Deductible amount for employer who does not pay interstate wages

79Deductible amount for employer who pays interstate wages

80Deductible amount for groups that do not pay interstate wages

81Deductible amount for groups that pay interstate wages

Division 5—Declared schools

82Schools and school councils

Division 6—Statute law revision

83Statute law revision amendment

Part 6—Amendment of Planning and Environment Act 1987

Division 1—Plans of subdivision for which statement of compliance not required

84Definitions—Part 9B

85GAIC events

86Excluded events

87What is a sub‑sale of dutiable property?

88New section 201RJ inserted

89Time of occurrence of GAIC event

90Persons liable to pay GAIC

91When and to whom the GAIC is payable

92Time for payment of apportioned and deferred GAIC on public purpose land subdivision

93Certificate of no GAIC liability

94Notice to Registrar regarding registration of subdivision or transfer of land

95Exemption from paying GAIC if duties exemption would apply

Division 2—Abolition of Growth Areas Infrastructure Contribution Hardship Relief Board

96When and to whom the GAIC is payable

97Liability to pay deferred GAIC in relation to subsequent dutiable transactions

98Subdivision 1 of Division 3 of Part 9B repealed

99Heading to Subdivision 2 of Division 3 of Part 9B amended

100Section 201TE amended

101Subdivision 4 of Division 3 of Part 9B repealed

Division 3—Apportionment of growth areas infrastructure contribution

102Apportionment of GAIC on issue of statement of compliance

103Apportionment of GAIC on issue of statement of compliance

Division 4—Transitional provisions

104New section 229 inserted

Part 7—Amendment of Subdivision Act 1988

105When can the Registrar register a plan?

106What is the effect of registration?

107Acquisition of land by acquiring authority

Part 8—Amendment of Taxation Administration Act 1997

108Objection

Part 9—Amendment of Valuation of Land Act 1960

109Who may object?

110Determination of objection

Part 10—Repeal of this Act

111Repeal of this Act

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Endnotes

1      General information

State Taxation Acts Amendment Act 2023

No. 18 of 2023

[Assented to 27 June 2023]

The Parliament of Victoria enacts:

PART 1—PRELIMINARY

1Purposes

The purposes of this Act are—

(a)to amend the Duties Act 2000—

(i)to provide for the application of that Act to corporate collective investment vehicles; and

(ii)to further provide for exemptions and concessions from duty for special disability trusts; and

(iii)to provide for an exemption from duty for a transfer of a principal place of residence to a person with a disability in certain circumstances; and

(iv)in relation to exemptions and concessions from duty for eligible cardholders; and

(v)to provide for a decreasing rate of duty and exemption from duty on business insurance premiums; and

(b)to amend the Fire Services Property Levy Act 2012 in relation to overpayments and payments made in error; and

(c)to amend the Land Tax Act 2005—

(i)to provide for the application of that Act to corporate collective investment vehicles; and

(ii)to provide for an exemption from land tax for land subject to a conservation covenant; and

(iii)to temporarily increase certain land tax rates to offset COVID-19 debt; and

(iv)to increase the absentee owner surcharge rate to 4%; and

(v)to decrease the tax free threshold for land held by an absentee owner to $50 000; and

(vi)to provide for an exemption from land tax for land used or occupied by a person with a disability in certain circumstances; and

(vii)to make further provision for the exemption for the construction or renovation of a principal place of residence; and

(d)to amend the Payroll Tax Act 2007—

(i)in relation to the meaning of wages in that Act; and

(ii)in relation to payroll tax liability; and

(iii)to introduce a temporary payroll tax surcharge to offset COVID-19 debt; and

(iv)to adjust the thresholds for determining a payroll tax liability; and

(v)to provide for the declaration of schools by which wages paid or payable are exempt wages; and

(e)to amend the Planning and Environment Act 1987 in relation to growth areas infrastructure contribution; and

(f)to amend the Subdivision Act 1988 in relation to growth areas infrastructure contribution; and

(g)to amend the Taxation Administration Act 1997 in relation to objections to valuations used for assessing a windfall gains tax liability; and

(h)to amend the Valuation of Land Act 1960 in relation to objections to valuations used for assessing a windfall gains tax liability; and

(i)to make other miscellaneous and technical amendments to those Acts.

2Commencement

(1)This Part comes into operation on the day on which this Act receives the Royal Assent.

(2)Division 2 of Part 5 is taken to have come into operation on 1 July 2022.

(3)The remaining provisions of this Act (except Parts 8 and 9, Divisions 2 and 3 of Part 2 and Divisions 3, 4 and 5 of Part 5) come into operation on the day after the day on which this Act receives the Royal Assent.

(4)Parts 8 and 9, Divisions 2 and 3 of Part 2 and Division 3 of Part 5 come into operation on 1 July 2023.

(5)Divisions 4 and 5 of Part 5 come into operation on 1 July 2024.

PART 2—AMENDMENT OF DUTIES ACT 2000

Division 1—Corporate collective investment vehicles

3Definitions

In section 3(1) of the Duties Act 2000 insert the following definitions—

"assets, in relation to a sub-fund of a CCIV, has the meaning given by section 1233H of the Corporations Act;

corporate collective investment vehicle or CCIV has the same meaning as in the Corporations Act;

liabilities, in relation to a sub-fund of a CCIV, has the meaning given by section 1233L of the Corporations Act;

member, in relation to a sub-fund of a CCIV, has the same meaning as in paragraph (c) of the definition of that term in the Corporations Act;

referable, in relation to a sub-fund and a share in a CCIV, has the meaning given by section 1230(1) of the Corporations Act;

sub-fund, of a CCIV, has the meaning given by section 1222Q(1) of the Corporations Act;".

4New section 3J inserted

After section 3I of the Duties Act 2000 insert—

"3J   Application of this Act to corporate collective investment vehicles

(1)For the purposes of this Act, each sub-fund of a CCIV is taken to be a unit trust scheme of which—

(a)the CCIV is the trustee; and

(b)the business, assets and liabilities of the sub-fund are the trust property; and

(c)the members of the sub-fund are the beneficiaries.

Example

A CCIV has 2 sub-funds: sub-fund A and sub-fund B. The assets of sub-fund B include land with an unencumbered value of $5 million. Each sub-fund is taken to be a separate unit trust scheme. In the case of sub-fund B—

·the CCIV is the trustee; and

·the land is the trust property; and

·the members of the sub-fund are the beneficiaries of the unit trust scheme.

(2)For a sub-fund that is taken to be a unit trust scheme under subsection (1)—

(a)a share in the CCIV that is referable to that sub-fund is taken to be a unit in the unit trust scheme; and

(b)a shareholder of that share, as a member of that sub-fund, is taken to be a registered unitholder of the unit in the unit trust scheme; and

(c)any rights, entitlements, obligations and other characteristics attaching to that share are taken, as far as practicable, to be the same rights, entitlements, obligations and other characteristics attaching to the unit; and

(d)a winding up of the sub-fund is taken to be a winding up of the unit trust scheme; and

(e)a person who has an entitlement, whether directly or through another person, to a distribution of property on the winding up of the sub-fund is taken to have the same entitlement to a distribution of property on the winding up of the unit trust scheme.

Examples

1 A CCIV has one sub-fund: sub-fund C. The shares that are referable to sub-fund C entitle the shareholders to a distribution of property on the winding up of the sub-fund. Sub-fund C is taken to be a unit trust scheme for which—

·a share that is referable to the sub-fund is taken to be a unit in the unit trust scheme; and

·a shareholder of that share is taken to be a unitholder of the unit in the unit trust scheme; and

·the entitlement of that shareholder to a distribution of property on the winding up of the sub-fund is taken to be the entitlement of a unitholder to a distribution of property on the winding up of the unit trust scheme.

2 A CCIV has 2 sub-funds: sub-fund D and sub‑fund E. The assets of sub-fund E include land with an unencumbered value of $10 million. Each sub-fund is taken to be a separate unit trust scheme. The unit trust scheme that is sub-fund E is a landholder for the purposes of Part 2 of Chapter 3. The CCIV, in respect of sub-fund D, then acquires 100% of the shares referable to sub-fund E. That acquisition is a relevant acquisition within the meaning given by section 78. In accordance with section 75, the unit trust scheme that is sub-fund E is then a linked entity of the unit trust scheme that is sub‑fund D.

(3)For the purposes of this Act, a CCIV is taken to be a separate person in relation to each unit trust scheme of which it is the trustee under subsection (1).

(4)This Act does not apply to a CCIV or the members of a sub-fund of a CCIV except as provided in this section.".

5New Part 3A of Chapter 11 inserted

After Part 3 of Chapter 11 of the Duties Act 2000 insert—

"PART 3A—CORPORATE COLLECTIVE INVESTMENT VEHICLES

251AACorporate collective investment vehicles

No duty is chargeable under this Act in respect of a transfer of dutiable property from either of the following to the other—

(a)a CCIV taken to be the trustee of a unit trust scheme;

(b)a person acting as a custodian of the CCIV in respect of the same unit trust scheme.

Note

Section 3J contains general provisions regarding the application of this Act to CCIVs.".

Division 2—Special disability trusts and persons with a disability

6New section 32XJ inserted

Before section 32Y of the Duties Act 2000 insert—

"32XJ   Definitions

In this Division—

principal beneficiary has the meaning given by—

(a)section 1209M(1) of the Social Security Act 1991 of the Commonwealth, in the case of a special disability trust within the meaning of section 1209L of that Act; and

(b)section 52ZZZWA(1) of the Veterans' Entitlements Act 1986 of the Commonwealth, in the case of a special disability trust within the meaning of section 52ZZZW of that Act;

residence requirement means the requirement referred to in section 38AC as varied (if at all) by the Commissioner under section 38AD.".

7Special disability trusts

(1)In section 38A(1) of the Duties Act 2000, for "(3) and (4)" substitute "(3), (4) and (4A)".

(2)For section 38A(4) of the Duties Act 2000 substitute—

"(4)The dutiable value of the property that is the subject of the declaration or transfer must not exceed—

(a)for dutiable property that is an interest in land to which a building is affixed that the principal beneficiary intends to use as their principal place of residence, $1 500 000; or

(b)for any other property, $500 000.

(4A)For dutiable property referred to in subsection (4)(a), at the time of the transfer—

(a)the dutiable property must meet the building requirement in section 38AB; and

(b)it is intended that the principal beneficiary occupy the land in accordance with the residence requirement.".

(3)In section 38A(5) of the Duties Act 2000, for "exceeds $500 000." substitute "exceeds—

(a)for subsection (4)(a), $1 500 000; or

(b)for subsection (4)(b), $500 000.".

(4)In section 38A(6) of the Duties Act 2000, the definition of principal beneficiary is repealed.

8New sections 38AB to 38AF inserted

After section 38A of the Duties Act 2000 insert—

"38AB   Building requirement—special disability trusts

For the purposes of section 38A(4A)(a), it is a requirement that, at the time of the declaration or transfer, there is a building affixed to the land that in the Commissioner's opinion—

(a)is designed and constructed primarily for residential purposes; and

(b)may lawfully be used as a place of residence.

38ACResidence requirement—special disability trusts

(1)For the purposes of section 38A(4A)(b), it is a requirement that the principal beneficiary occupies the land as the principal beneficiary's principal place of residence for a continuous period of at least 12 months commencing within the 12 month period immediately after the declaration or transfer.

(2)In determining whether land is occupied as the principal place of residence of a principal beneficiary, account must be taken of every place of residence of the principal beneficiary, whether in Victoria or elsewhere.

38ADVariation of residence requirement—special disability trusts

If satisfied that there is a good reason for doing so, the Commissioner may—

(a)reduce the required period of residence; or

(b)determine that a temporary absence from residence does not break the continuity of residence; or

(c)extend the period in which residence must begin.

38AELiability for duty if residence requirement not complied with—special disability trusts

(1)If the residence requirement for a declaration or transfer referred to in section 38A(4)(a) or (5)(a) is not complied with, the declaration or transfer is chargeable with duty—

(a)at the rate set out in section 28(1) without any exemption or concession from duty under section 38A (that would otherwise have applied because of section 38A(4)(a) or (5)(a)), subject to any other exemption or concession (including the exemption or concession in section 38A that would apply because of section 38A(4)(b) or (5)(b)); and

(b)the Commissioner may reassess duty on the declaration or transfer accordingly.

(2)A liability for duty imposed because of subsection (1) on a declaration or transfer arises when the residence requirement for that declaration or transfer is not complied with.

Note

Section 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.

(3)A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.

Note

Section 9(3)(c) of the Taxation Administration Act 1997 allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.

(4)If the residence requirement for a declaration or transfer referred to in section 38A(4)(a) or (5)(a) is not complied with, subsection (5) applies until the trustee has paid duty for which the trustee is liable because of this section.

(5)For the purposes of subsection (4)—

(a)section 38A does not apply to any other declaration of a special disability trust, or transfer of dutiable property to a trustee of a special disability trust, of which the principal beneficiary is the same person as the principal beneficiary in relation to the declaration or transfer for which duty has been reassessed under subsection (1)(b); and

(b)section 57P does not apply to any other transfer of dutiable property to the principal beneficiary.

38AFTrustee to notify Commissioner of change in circumstances—special disability trusts

(1)A trustee who has received an exemption or concession from duty under section 38A, for a declaration or transfer referred to in section 38A(4)(a) or (5)(a), must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.

(2)A failure of a trustee to comply with subsection (1) does not affect the Commissioner's power to reassess duty under section 38AE or to exercise a discretion under section 38AD.".

9New Division 4B of Part 5 of Chapter 2 inserted

After Division 4A of Part 5 of Chapter 2 of the Duties Act 2000 insert—

"Division 4B—Principal places of residence and persons with a disability

57ODefinitions

In this Division—

immediate family member, of a transferee, means an individual—

(a)who is a natural parent, adoptive parent or step-parent of the transferee; or

(b)who is, or was when the transferee was under 18 years of age, a legal guardian of the transferee; or

(c)who is a grandparent of the transferee; or

(d)who is a sibling of the transferee;

residence requirement means the requirement referred to in section 57S as varied (if at all) by the Commissioner under section 57T.

57PExemption for transfer of principal place of residence to person with a disability

(1)A transferee is entitled to an exemption from duty under this Chapter in respect of a transfer of dutiable property if—

(a)the transferee meets the qualifying requirement in section 57Q; and

(b)the transferor is an immediate family member of the transferee; and

(c)no consideration is provided for the transfer; and

(d)the dutiable value of the dutiable property the subject of the transfer is not more than $1 500 000; and

(e)the dutiable property is an estate or interest in land and meets the building requirement in section 57R; and

(f)the transferee intends to occupy the land as their principal place of residence.

Note

The residence requirement must also be met after the transfer of dutiable property or the transfer can be reassessed for duty—see sections 57S to 57V.

(2)If there is more than one transferee in respect of the transfer, each of the transferees must be individually entitled to receive the exemption under subsection (1) for all of the transferees to receive the exemption.

(3)A transferee is not entitled to an exemption under subsection (1) if, after the transfer, a person who does not meet the qualifying requirement in section 57Q is also an owner of the land.

57QQualifying requirement

It is a requirement for the purposes of an exemption from duty under section 57P that, prior to the transfer, the transferee has received a determination in writing that the transferee meets the impairment or disability conditions for a special disability trust—

(a)from Services Australia under section 1209M of the Social Security Act 1991 of the Commonwealth; or

(b)from the Department of Veterans' Affairs under section 52ZZZWA of the Veterans' Entitlements Act 1986 of the Commonwealth.

57RBuilding requirement

It is a requirement for the purposes of an exemption from duty under section 57P that, at the time of the transfer, the dutiable property has a building affixed to the land that in the Commissioner's opinion—

(a)is designed and constructed primarily for residential purposes; and

(b)may lawfully be used as a place of residence.

57SResidence requirement

(1)It is a requirement for the purposes of an exemption from duty under section 57P that the transferee, or each of the transferees if there is more than one transferee, occupies the land as their principal place of residence for a continuous period—

(a)of at least 12 months; and

(b)commencing within the 12 month period immediately after the transferee or transferees became entitled to possession of the land.

(2)In determining whether land is occupied as the principal place of residence of a transferee, account must be taken of every place of residence of the transferee, whether in Victoria or elsewhere.

57TVariation of residence requirement

If satisfied that there is a good reason for doing so, the Commissioner may—

(a)reduce the required period of residence; or

(b)determine that a temporary absence from residence does not break the continuity of residence; or

(c)extend the period in which residence must begin.

57ULiability for duty if residence requirement not complied with

(1)If the residence requirement for a transfer referred to in section 57P is not complied with—

(a)the transfer is chargeable with duty at the rate set out in section 28(1) without any exemption from duty under section 57P, subject to any other exemption or concession; and

(b)the Commissioner may reassess duty on the transfer accordingly.

(2)A liability for duty imposed because of subsection (1) on a transfer arises when the residence requirement for that transfer is not complied with.

Note

Section 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.

(3)A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.

Note

Section 9(3)(c) of the Taxation Administration Act 1997 allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.

(4)If the residence requirement for a transfer referred to in section 57P is not complied with, subsection (5) applies until the transferee has paid duty for which the transferee is liable because of this section.

(5)For the purposes of subsection (4)—

(a)section 38A does not apply to any other transfer of dutiable property to a trustee of a special disability trust, or a declaration of a special disability trust, of which the transferee is the principal beneficiary; and

(b)section 57P does not apply to any other transfer of dutiable property to the transferee.

(6)In this section—

principal beneficiary has the same meaning as in section 32XJ.

57VTransferee to notify Commissioner of change in circumstances

(1)A transferee who has received an exemption from duty under section 57P must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.

(2)A failure of a transferee to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 57T or reassess duty under section 57U.".

Division 3—Pensioner and concession card duty reduction

10Definitions

In section 3(1) of the Duties Act 2000—

(a)insert the following definition—

"eligible cardholder has the meaning given by section 58;";

(b)the definition of eligible pensioner is repealed.

11What is the consideration for the transfer of dutiable property?

In section 21(2) of the Duties Act 2000—

(a)in paragraph (b), for "section 57JA." substitute "section 57JA;";

(b)after paragraph (b) insert—

"(c)applying an exemption or concession under section 60, if the dutiable value of the property is not more than the maximum amount specified in section 57J.".

12Exemption or concession for new homes in City of Melbourne

For section 57FC(4) of the Duties Act 2000 substitute—

"(4)No account is to be taken of this section in determining any duty chargeable under section 28A(2) on a transfer to a foreign purchaser of a land-related interest in residential property.".

13Heading to Division 5 of Part 5 of Chapter 2 amended

In the heading to Division 5 of Part 5 of Chapter 2 of the Duties Act 2000, for "Eligible pensioner" substitute "Pensioner and concession card duty reduction".

14New section 58AA inserted

Before section 58 of the Duties Act 2000 insert—

"58AA   Definition

(1)In this Division—

residence requirement means the requirement referred to in section 60AAB as varied (if at all) by the Commissioner under section 60AAC.

(2)For the purposes of this Division, a reference to—

(a)a bona fide purchaser of an estate in fee simple in land includes a reference to—

(i)a person to whom a lease referred to in section 7(1)(b)(v) has been granted; and

(ii)a person to whom a lease referred to in section 7(1)(b)(va) has been transferred or assigned; and

(b)a transfer of dutiable property, being an estate in fee simple in land, includes a reference to—

(i)the granting of a lease referred to in section 7(1)(b)(v); and

(ii)the transfer or assignment of a lease referred to in section 7(1)(b)(va).".

15Section 58 amended

(1)In the heading to section 58 of the Duties Act 2000, for "eligible pensioner?" substitute "eligible cardholder?".

(2)In section 58(1) of the Duties Act 2000—

(a)for "eligible pensioner" substitute "eligible cardholder";

(b)paragraph (c) is repealed;

(c)in paragraph (d)(i), after "section 59 or 60" insert "as in force immediately before the commencement of Division 3 of Part 2 of the State Taxation Acts Amendment Act 2023".

(3)In section 58(2) of the Duties Act 2000, for "eligible beneficiaries" substitute "eligible cardholders".

(4)Section 58(3) and (4) of the Duties Act 2000 are repealed.

16Sections 59 and 60 substituted and new sections 60AA to 60AAE inserted

For sections 59 and 60 of the Duties Act 2000 substitute—

"59   Land to which an eligible cardholder exemption or concession may apply

(1)The exemption or concession under section 60 applies to a transfer of dutiable property, being an estate in fee simple in land—

(a)to which is affixed a building that, in the Commissioner's opinion—

(i)is designed and constructed primarily for residential purposes; and

(ii)may lawfully be used as a place of residence; or

(b)that, in the Commissioner's opinion, is vacant land on which a person intends to construct a building referred to in subsection (a).

(2)The Commissioner may treat land as vacant land for the purposes of the exemption or concession under section 60 if the Commissioner is satisfied that the land is substantially vacant apart from there being on the land—

(a)the remnant of any building, or any other object or structure, that the Commissioner is satisfied has been preserved because of its heritage significance; or

(b)any building or structure that the Commissioner is satisfied is intended to be demolished.

60Eligible cardholder exemption or concession

(1)A transfer of dutiable property is exempt from duty if—

(a)the transferee satisfies, or, if more than one, the transferees satisfy the requirements specified in section 60AA; and

(b)the dutiable value of the dutiable property the subject of the transfer is not more than $600 000; and

(c)the contract for the purchase of dutiable property is entered into on or after 1 July 2023.

(2)A concession from duty under this Chapter applies to a transfer of dutiable property if—

(a)the transferee satisfies, or, if more than one, the transferees satisfy the requirements specified in section 60AA; and

(b)the dutiable value of the dutiable property the subject of the transfer is more than $600 000 but not more than $750 000; and

(c)the contract for the purchase of dutiable property is entered into on or after 1 July 2023.

(3)For the purposes of subsection (2), the concessional amount of duty payable is an amount calculated in accordance with the following formula—

where—

A    is the dutiable value of the property;

B    is the amount of duty paid or payable (but for this section) on the transfer.

(4)If the transfer is of a partial interest in dutiable property, the dutiable value of the dutiable property for the purpose of determining an entitlement to an exemption or concession under this section is the unencumbered value of the whole of the dutiable property at the time of the transfer.

60AAEligible cardholder exemption or concession requirements

For the purposes of section 60, the requirements of the transferee, or the transferees if more than one transferee, at the time of the transfer are—

(a)that at least one transferee is an eligible cardholder who acquires an interest in the dutiable property of 25% or more; and

(b)that each transferee and partner of a transferee has not previously received an exemption or concession from duty on a dutiable transaction under section 60 on or after 1 July 2023; and

(c)that the eligible cardholder referred to in paragraph (a) has an intention to occupy the land in accordance with the residence requirement.

60AABResidence requirement

(1)It is a requirement for the purposes of an exemption or concession under section 60 that an eligible cardholder occupies the land as the eligible cardholder's principal place of residence—

(a)in the case of land referred to in section 59(1)(a), for a continuous period of at least 12 months commencing within the 12 month period immediately after the eligible cardholder became entitled to possession of the land; or

(b)in the case of land referred to in section 59(1)(b), for a continuous period of at least 12 months commencing within the 12 month period immediately after the earlier of—

(i)the date on which the eligible cardholder was lawfully first able to use the building as a place of residence; or

(ii)the date that is 24 months after the eligible cardholder became entitled to possession of the land.

(2)Subject to subsection (3), if there are 2 or more eligible cardholders, the residence requirement is complied with if the land is occupied for the period referred to in subsection (1) as the principal residence of at least one of them (whether separately or together with any of the others and whether or not the same eligible cardholder occupies the land for the whole period).

(3)The land must be occupied, at any given time during the period referred to in subsection (1), by an eligible cardholder who has an interest in the dutiable property of 25% or more of the dutiable value.

(4)In determining whether land is occupied as the principal place of residence of an eligible cardholder, account must be taken of every place of residence of the eligible cardholder, whether in Victoria or elsewhere.

60AACVariation of residence requirement

(1)If satisfied that there is a good reason for doing so, the Commissioner may—

(a)reduce the required period of residence; or

(b)determine that a temporary absence from residence does not break the continuity of residence; or

(c)extend the period in which residence must begin.

(2)If the Commissioner determines that a temporary absence from residence does not break the continuity of residence, an eligible cardholder is not entitled to an exemption or concession under section 60 in respect of another transfer during the period of temporary absence unless the eligible cardholder pays duty on the original transfer at the rate set out in section 28(1), subject to any other exemption or concession.

(3)If an eligible cardholder who is occupying land the subject of a transfer as the eligible cardholder's principal place of residence, or who is temporarily absent from the land in accordance with a determination under subsection (1), dies, the residence requirement is taken to have been complied with for the transfer.

60AADLiability for duty if residence requirement not complied with

(1)If the residence requirement for an exemption or concession under section 60 is not complied with—

(a)the transfer is chargeable with duty at the rate set out in section 28(1), subject to any other exemption or concession; and

(b)the Commissioner may reassess duty on the transfer accordingly.

(2)A liability for duty imposed because of subsection (1) on the transfer arises when the residence requirement for that transfer is not complied with.

Note

Section 16 provides that a tax default does not occur if the duty is paid within 30 days after the liability for the duty arises.

(3)A reassessment referred to in subsection (1)(b) is authorised if more than 5 years have passed since the initial assessment was made.

Note

Section 9(3)(c) of the Taxation Administration Act 1997 allows a reassessment to be made more than 5 years after the initial assessment if this is authorised by a taxation law.

(4)If the residence requirement for an exemption or concession under section 60 is not complied with, a transferee who received the exemption or concession is not entitled to an exemption or concession under that section in respect of any other transfer until the transferee has paid duty for which the person is liable because of this section.

60AAEPersons must notify Commissioner of change in circumstance

(1)A person who has received an exemption or concession from duty under section 60 must lodge a written notice with the Commissioner within 30 days after becoming aware of any circumstances that may result in the residence requirement not being complied with.

(2)A failure of the person to comply with subsection (1) does not affect the Commissioner's power to exercise a discretion under section 60AAC or to reassess duty under section 60AAD.".

17Section 60A amended

(1)In the heading to section 60A of the Duties Act 2000, for "eligible pensioner" substitute "eligible cardholder".

(2)In section 60A of the Duties Act 2000—

(a)in subsection (1)—

(i)for "eligible pensioner" substitute "eligible cardholder";

(ii)in paragraph (a) omit "59 or";

(b)in subsection (2)—

(i)for "eligible pensioner" substitute "eligible cardholder";

(ii)in paragraph (a), for "section 59 or 60 (as the case requires)" substitute "section 60";

(c)in subsection (3)—

(i)for "eligible pensioner" substitute "eligible cardholder";

(ii)for "section 59 or 60 (as the case requires)" substitute "section 60";

(d)in subsection (4)—

(i)for "eligible pensioner" substitute "eligible cardholder";

(ii)omit "59 or".

(3)The note at the foot of section 60A of the Duties Act 2000 is repealed.

18Eligible mortgages under concession schemes

In section 167(2)(a) of the Duties Act 2000, for "eligible pensioner" substitute "eligible cardholder".

19Transitional provisions

After clause 58 of Schedule 2 to the Duties Act 2000 insert—

"59 State Taxation Acts Amendment Act 2023—Division 5 of Part 5 of Chapter 2

(1)Division 5 of Part 5 of Chapter 2 and section 57FC(4), as in force immediately before 1 July 2023, continue to apply to a transfer to an eligible pensioner, within the meaning of that Division as in force immediately before 1 July 2023, of dutiable property, being an estate in fee simple in land, if the contract of sale of the land was entered into before 1 July 2023.

(2)A taxpayer is entitled to a refund of any duty paid on or after 1 July 2023 that is not payable because of subclause (1).".

Division 4—Insurance duty

20Definitions

In section 3(1) of the Duties Act 2000 insert the following definitions—

"business insurance means general insurance that relates to one or more of the following classes of business—

(a)aviation;

(b)employers' liability;

(c)fire and industrial special risks;

(d)marine;

(e)public and product liability;

(f)professional indemnity;

class of business means a class of business defined in Prudential Standard GPS 001—Definitions, as made and amended from time to time by the Australian Prudential Regulation Authority under section 32 of the Insurance Act 1973 of the Commonwealth;".

21Section 179 substituted

For section 179 of the Duties Act 2000 substitute—

"179   What duty is payable

(1)The amount of duty chargeable on the premium paid in relation to a contract of insurance, other than a contract of business insurance, is 10% of the amount of the premium.

(2)The amount of duty chargeable on the premium paid in relation to a contract of business insurance is the percentage specified in subsection (4) of the amount of the premium.

(3)If a contract of insurance relates to both business insurance and insurance other than business insurance, the premium is to be apportioned and duty imposed—

(a)in accordance with subsection (1) on the portion of the premium that relates to insurance other than business insurance; and

(b)in accordance with subsection (2) on the portion of the premium that relates to business insurance.

(4)For the purpose of subsection (2), the percentage in relation to a contract of insurance that is effected or renewed within the date range specified in Column 1 of the following Table is the corresponding percentage specified in Column 2 of the following Table—

Table

Column 1	Column 2
Date	Percentage
On or before 30 June 2024	10%
1 July 2024 to 30 June 2025	9%
1 July 2025 to 30 June 2026	8%
1 July 2026 to 30 June 2027	7%
1 July 2027 to 30 June 2028	6%
1 July 2028 to 30 June 2029	5%
1 July 2029 to 30 June 2030	4%
1 July 2030 to 30 June 2031	3%
1 July 2031 to 30 June 2032	2%
1 July 2032 to 30 June 2033	1%
On or after 1 July 2033	0%

".

Division 5—Statute law revision

22Statute law revision amendments

(1)In section 3(1) of the Duties Act 2000, in the definition of receiving body, for "(Business Transfer and Group Restructure)" substitute "(Transfer and Restructure)".

(2)In the heading to Chapter 4 of the Duties Act 2000, for "(business transfer and group restructure)" substitute "(transfer and restructure)".

(3)In section 104 of the Duties Act 2000, for "(Business Transfer and Group Restructure)" substitute "(Transfer and Restructure)".

(4) In section 107(1) of the Duties Act 2000, for "(Business Transfer and Group Restructure)" substitute "(Transfer and Restructure)".

(5)In section 233A(a) of the Duties Act 2000, for "St John's" substitute "St John".

(6)In the heading to section 234B of the Duties Act 2000, for "(business transfer and group restructure)" substitute "(transfer and restructure)".

(7)In section 234B of the Duties Act 2000, for "(Business Transfer and Group Restructure)" substitute "(Transfer and Restructure)".

PART 3—AMENDMENT OF FIRE SERVICES PROPERTY LEVY ACT 2012

23Refund of amounts overpaid

For section 36(2) of the Fire Services Property Levy Act 2012 substitute—

"(2)Subsection (1) does not apply to a person if the grounds on which the person believes they have made an overpayment are grounds for making an objection under Part III of the Valuation of Land Act 1960.

Note

See section 17 of the Valuation of Land Act 1960.".

24Cancellation of assessment of liability to pay levy amount made in error

After section 38(1) of the Fire Services Property Levy Act 2012 insert—

"(1A)Subsection (1) does not apply to an error that constitutes grounds for making an objection under Part III of the Valuation of Land Act 1960.

Note

See section 17 of the Valuation of Land Act 1960.".

PART 4—AMENDMENT OF LAND TAX ACT 2005

Division 1—Corporate collective investment vehicles

25Definitions

In section 3(1) of the Land Tax Act 2005 insert the following definitions—

"assets, in relation to a sub-fund of a CCIV, has the meaning given by section 1233H of the Corporations Act;

associated person has the same meaning as in the Duties Act 2000;

ASX means ASX Limited (A.C.N. 008 624 691);

corporate collective investment vehicle or CCIV has the same meaning as in the Corporations Act;

equivalent exchange has the same meaning as in the Duties Act 2000;

liabilities, in relation to a sub-fund of a CCIV, has the meaning given by section 1233L of the Corporations Act;

LSE means the London Stock Exchange;

member, in relation to a sub-fund of a CCIV, has the same meaning as in paragraph (c) of the definition of that term in the Corporations Act;

NYSE means the New York Stock Exchange;

NZXmeans the company registered in New Zealand known as NZX Limited;

referable, in relation to a sub-fund and a share in a CCIV, has the meaning given by section 1230(1) of the Corporations Act;

sub-fund, of a CCIV, has the meaning given by section 1222Q(1) of the Corporations Act;".

26New section 3G inserted

After section 3F of the Land Tax Act 2005 insert—

"3G   Application of this Act to corporate collective investment vehicles

(1)For the purposes of this Act, each sub-fund of a CCIV is taken to be a unit trust scheme of which—

(a)the CCIV is the trustee; and

(b)the business, assets and liabilities of the sub-fund are the trust property; and

(c)the members of the sub-fund are the beneficiaries.

(2)For a sub-fund that is taken to be a unit trust scheme under subsection (1)—

(a)a share in the CCIV that is referable to that sub-fund is taken to be a unit in the unit trust scheme; and

(b)any rights, entitlements, obligations and other characteristics attaching to that share are taken, as far as practicable, to be the same rights, entitlements, obligations and other characteristics attaching to the unit.

(3)For the purposes of this Act, a sub-fund that is taken to be a unit trust scheme under subsection (1) must be treated as an excluded trust if—

(a)all shares that are referable to the sub‑fund are quoted on one of the following exchanges—

(i)the ASX or an equivalent exchange;

(ii)the LSE;

(iii)the NYSE;

(iv)the NZX;

(v)any exchange of the World Federation of Exchanges; or

(b)both of the following apply—

(i)there are at least 50 members who hold shares that are referable to the sub-fund;

(ii)none of those members, either individually or together with associated persons, holds more than 20% of those shares; or

(c)the sub-fund—

(i)is taken to be a unit trust scheme under the Duties Act 2000; and

(ii)is declared as a public unit trust scheme under Division 6 of Part 2 of Chapter 3 of that Act; or

(d)the sub-fund—

(i)is taken to be a unit trust scheme under the Duties Act 2000; and

(ii)is registered under Division 6 of Part 2 of Chapter 3 of that Act as a wholesale unit trust scheme, an imminent wholesale unit trust scheme or a declared wholesale unit trust scheme.

(4)For the purposes of this Act, a CCIV is taken to be a separate person in relation to each unit trust scheme of which it is the trustee under subsection (1).

(5)This Act does not apply to a CCIV or the members of a sub-fund of a CCIV except as provided in this section.

Example

A CCIV has 2 sub-funds: sub-fund A and sub-fund B. The assets of sub-fund A include Blackacre, which has a taxable value of $10 million. The assets of sub-fund B include Whiteacre, which has a taxable value of $5 million.

The CCIV is the owner of Blackacre as the trustee of the unit trust scheme that is sub-fund A. Separately, the CCIV is the owner of Whiteacre as the trustee of the unit trust scheme that is sub-fund B.

If the assets of sub-fund A include shares that are referable to sub-fund B, then the CCIV, as the trustee of the unit trust scheme that is sub-fund A, is a unitholder and beneficiary of the unit trust scheme that is sub-fund B.".

Division 2—Land tax rates

27Land tax surcharge for absentee trusts

(1)In section 46IA(1) of the Land Tax Act 2005, in the first formula set out in that subsection, for "2%" substitute "4%".

(2)In section 46IA(1A) of the Land Tax Act 2005, in the first formula set out in that subsection, for "2%" substitute "4%".

28Land tax for absentee fixed trust if beneficial interests notified to Commissioner

(1)In section 46IB(1)(b)(ii) of the Land Tax Act 2005, in the formula set out in that subparagraph, for "2%" substitute "4%".

(2)In section 46IB(3)(b) of the Land Tax Act 2005, in the first formula set out in that paragraph, for "2%" substitute "4%".

(3)In section 46IB(4)(a) of the Land Tax Act 2005, in the formula set out in that paragraph, for "2%" substitute "4%".

29Land tax for absentee unit trust scheme if unitholdings notified to Commissioner

(1)In section 46IC(1)(b)(ii) of the Land Tax Act 2005, in the formula set out in that subparagraph, for "2%" substitute "4%".

(2)In section 46IC(3)(b) of the Land Tax Act 2005, in the first formula set out in that paragraph, for "2%" substitute "4%".

(3)In section 46IC(4)(a) of the Land Tax Act 2005, in the formula set out in that paragraph, for "2%" substitute "4%".

30Land tax for beneficiary/trustees

(1)In section 46ID(3)(a) of the Land Tax Act 2005, in the formula set out in that paragraph, for "2%" substitute "4%".

(2)In section 46ID(5)(a) of the Land Tax Act 2005, in the formula set out in that paragraph, for "2%" substitute "4%".

31Land tax for PPR land if nominated PPR beneficiary

In section 46IF(2A)(a)(ii) and (b) of the Land Tax Act 2005, in the formulas set out in those paragraphs, for "2%" substitute "4%".

32Land tax surcharge for related absentee corporations

In section 50A(2) of the Land Tax Act 2005, in the formula set out in that subsection, for "2%" substitute "4%".

33BTR benefit—exemption from absentee owner land tax surcharge for eligible land

In section 70K(2) of the Land Tax Act 2005, in the formula set out in that subsection, for "2%" substitute "4%".

34Clause 1.5 of Part 1 of Schedule 1 amended

(1)In the heading to clause 1.5 of Part 1 of Schedule 1 to the Land Tax Act 2005, for "2022" substitute "2022, 2023 and 2034".

(2)In clause 1.5 of Part 1 of Schedule 1 to the Land Tax Act 2005, for "2022" substitute "2022, 2023 and 2034".

35New clause 1.6 of Part 1 of Schedule 1 inserted

After clause 1.5 of Part 1 of Schedule 1 to the Land Tax Act 2005 insert—

"1.6   Land tax for 2024 to 2033

The rate of land tax for each of the years from 2024 to 2033 is set out in Table 1.6.

Table 1.6

Item	Column 1 Taxable value not less than	Column 2 Taxable value less than	Column 3 Rate of land tax
$	$
1	0	50 000	Nil
2	50 000	100 000	$500
3	100 000	300 000	$975
4	300 000	600 000	$1350 and 0×3% of the taxable value that exceeds $300 000
5	600 000	1 000 000	$2250 and 0×6% of the taxable value that exceeds $600 000
6	1 000 000	1 800 000	$4650 and 0×9% of the taxable value that exceeds $1 000 000
7	1 800 000	3 000 000	$11 850 and 1×65% of the taxable value that exceeds $1 800 000
8	3 000 000	$31 650 and 2×65% of the taxable value that exceeds $3 000 000

".

36Clause 3.5 of Part 3 of Schedule 1 amended

(1)In the heading to clause 3.5 of Part 3 of Schedule 1 to the Land Tax Act 2005, for "2022" substitute "2022, 2023 and 2034".

(2)In clause 3.5 of Part 3 of Schedule 1 to the Land Tax Act 2005, for "2022" substitute "2022, 2023 and 2034".

37New clause 3.6 of Part 3 of Schedule 1 inserted

After clause 3.5 of Part 3 of Schedule 1 to the Land Tax Act 2005 insert—

"3.6   Land tax for trusts for 2024 to 2033

The rate of land tax for each of the years from 2024 to 2033 for land held by an owner subject to a trust is set out in Table 3.6.

Table 3.6

Item	Column 1 Taxable value not less than	Column 2 Taxable value less than	Column 3 Rate of land tax
$	$
1	0	25 000	Nil
2	25 000	50 000	$82 and 0×375% of the taxable value that exceeds $25 000
3	50 000	100 000	$676 and 0×375% of the taxable value that exceeds $50 000
4	100 000	250 000	$1338 and 0×375% of the taxable value that exceeds $100 000
5	250 000	600 000	$1901 and 0×675% of the taxable value that exceeds $250 000
6	600 000	1 000 000	$4263 and 0×975% of the taxable value that exceeds $600 000
7	1 000 000	1 800 000	$8163 and 1×275% of the taxable value that exceeds $1 000 000
8	1 800 000	3 000 000	$18 363 and 1×1072% of the taxable value that exceeds $1 800 000
9	3 000 000	$31 650 and 2×65% of the taxable value that exceeds $3 000 000

".

38Clause 4.4 of Part 4 of Schedule 1 amended

(1)In the heading to clause 4.4 of Part 4 of Schedule 1 to the Land Tax Act 2005, for "subsequent years" substitute "2023".

(2)In clause 4.4 of Part 4 of Schedule 1 to the Land Tax Act 2005, for "each subsequent year" substitute "2023".

39New clauses 4.5 and 4.6 of Part 4 of Schedule 1 inserted

After clause 4.4 of Part 4 of Schedule 1 to the Land Tax Act 2005 insert—

"4.5   Rate of land tax on land held by absentee owners for 2024 to 2033

The rate of land tax on land held by an absentee owner for each of the years from 2024 to 2033 is set out in Table 4.5.

Table 4.5

Item	Column 1 Taxable value not less than	Column 2 Taxable value less than	Column 3 Rate of land tax
$	$
1	0	50 000	Nil
2	50 000	100 000	$2500 and 4% of the taxable value that exceeds $50 000
3	100 000	300 000	$4975 and 4% of the taxable value that exceeds $100 000
4	300 000	600 000	$13 350 and 4×3% of the taxable value that exceeds $300 000
5	600 000	1 000 000	$26 250 and 4×6% of the taxable value that exceeds $600 000
6	1 000 000	1 800 000	$44 650 and 4×9% of the taxable value that exceeds $1 000 000
7	1 800 000	3 000 000	$83 850 and 5×65% of the taxable value that exceeds $1 800 000
8	3 000 000	$151 650 and 6×65% of the taxable value that exceeds $3 000 000

4.6Rate of land tax on land held by absentee owners for 2034 and subsequent years

The rate of land tax on land held by an absentee owner for 2034 and each subsequent year is set out in Table 4.6.

Table 4.6

Item	Column 1 Taxable value not less than	Column 2 Taxable value less than	Column 3 Rate of land tax
$	$
1	0	50 000	Nil
2	50 000	300 000	$2 000 and 4% of the taxable value that exceeds $50 000
3	300 000	600 000	$12 375 and 4×2% of the taxable value that exceeds $300 000
4	600 000	1 000 000	$24 975 and 4×5% of the taxable value that exceeds $600 000
5	1 000 000	1 800 000	$42 975 and 4×8% of the taxable value that exceeds $1 000 000
6	1 800 000	3 000 000	$81 375 and 5×55% of the taxable value that exceeds $1 800 000
7	3 000 000	$147 975 and 6×55% of the taxable value that exceeds $3 000 000

".

40Clause 5.4 of Part 5 of Schedule 1 amended

(1)In the heading to clause 5.4 of Part 5 of Schedule 1 to the Land Tax Act 2005, for "subsequent years" substitute "2023".

(2)In clause 5.4 of Part 5 of Schedule 1 to the Land Tax Act 2005, for "each subsequent year" substitute "2023".

41New clauses 5.5 and 5.6 of Part 5 of Schedule 1 inserted

After clause 5.4 of Part 5 of Schedule 1 to the Land Tax Act 2005 insert—

"5.5   Rate of land tax on land held by owner subject to an absentee trust for 2024 to 2033

The rate of land tax for land held by an owner subject to an absentee trust for each of the years from 2024 to 2033 is set out in Table 5.5.

Table 5.5

Item	Column 1 Taxable value not less than	Column 2 Taxable value less than	Column 3 Rate of land tax
$	$
1	0	25 000	Nil
2	25 000	50 000	$1082 and 4×375% of the taxable value that exceeds $25 000
3	50 000	100 000	$2676 and 4×375% of the taxable value that exceeds $50 000
4	100 000	250 000	$5338 and 4×375% of the taxable value that exceeds $100 000
5	250 000	600 000	$11 901 and 4×675% of the taxable value that exceeds $250 000
6	600 000	1 000 000	$28 263 and 4×975% of the taxable value that exceeds $600 000
7	1 000 000	1 800 000	$48 163 and 5×275% of the taxable value that exceeds $1 000 000
8	1 800 000	3 000 000	$90 363 and 5×1072% of the taxable value that exceeds $1 800 000
9	3 000 000	$151 650 and 6×65% of the taxable value that exceeds $3 000 000

5.6Rate of land tax on land held by owner subject to an absentee trust for 2034 and subsequent years

The rate of land tax for land held by an owner subject to an absentee trust for 2034 and each subsequent year is set out in Table 5.6.

Table 5.6

Item	Column 1 Taxable value not less than	Column 2 Taxable value less than	Column 3 Rate of land tax
$	$
1	0	25 000	Nil
2	25 000	250 000	$1082 and 4×375% of the taxable value that exceeds $25 000
3	250 000	600 000	$10 926 and 4×575% of the taxable value that exceeds $250 000
4	600 000	1 000 000	$26 938 and 4×875% of the taxable value that exceeds $600 000
5	1 000 000	1 800 000	$46 438 and 5×175% of the taxable value that exceeds $1 000 000
6	1 800 000	3 000 000	$87 838 and 5×0114% of the taxable value that exceeds $1 800 000
7	3 000 000	$147 975 and 6×55% of the taxable value that exceeds $3 000 000

".

Division 3—Principal place of residence exemption for person with a disability (qualifying)

42Definitions

(1)In section 52(1) of the Land Tax Act 2005 insert the following definition—

"immediate family member, of a person with a disability (qualifying), means an individual—

(a)who is a natural parent, adoptive parent or step-parent of the person with a disability (qualifying); or

(b)who is, or was when the person with a disability (qualifying) was under 18 years of age, a legal guardian of the person with a disability (qualifying); or

(c)who is a grandparent of the person with a disability (qualifying); or

(d)who is a sibling of the person with a disability (qualifying);".

(2)In section 52(1) of the Land Tax Act 2005, in the definition of qualifying person—

(a)after paragraph (a)(iv) insert—

"(v)an immediate family member of a person with a disability (qualifying) who is a qualifying person under paragraph (d); or";

(b)in paragraph (c), for "subject;" substitute "subject; or";

(c)after paragraph (c) insert—

"(d)a person with a disability (qualifying) whose immediate family member is the owner of the land;".

43New section 53B inserted

After section 53A of the Land Tax Act 2005 insert—

"53B   Who is a person with a disability (qualifying)?

For the purposes of this Division, a person with a disability (qualifying) is a person who has received a determination in writing that the person meets the impairment or disability conditions for a special disability trust from—

(a)Services Australia under section 1209M of the Social Security Act 1991 of the Commonwealth; or

(b)the Department of Veterans' Affairs under section 52ZZZWA of the Veterans' Entitlements Act 1986 of the Commonwealth.".

44Principal place of residence exemption

(1)In section 54(1) of the Land Tax Act 2005—

(a)in paragraph (b), for "land." substitute "land;";

(b)after paragraph (b) insert—

"(c)land owned by an immediate family member of a person with a disability (qualifying) that is used and occupied as the principal place of residence of the person with a disability (qualifying).".

(2)In section 54(1B) of the Land Tax Act 2005—

(a)after "subsection (1)(b)" insert "or (c)";

(b)after "vested beneficiary" insert "or person with a disability (qualifying)".

(3)In section 54(2) of the Land Tax Act 2005—

(a)for "subsection (1)(a) or (b)" substitute "subsection (1)(a), (b) or (c)";

(b)for "owner or vested beneficiary" substitute "owner, vested beneficiary or person with a disability (qualifying) (as the case requires)".

(4)After section 54(4) of the Land Tax Act 2005 insert—

"(4AA)For the purposes of subsection (1)(c), if the land is owned by joint owners, each joint owner must be an immediate family member of the person with a disability (qualifying) who is using and occupying the land as the person's principal place of residence.".

45Deferral of tax on certain residential land for 6 months

In section 55(1)(b) of the Land Tax Act 2005, for "owner or, in the case of a trustee, as the principal place of residence of a vested beneficiary in relation to the land" substitute "person referred to in section 54(1)(a), (b) or (c) as using or occupying the land".

46Deferral of tax for residential land to be used during tax year

(1)After section 55A(2) of the Land Tax Act 2005 insert—

"(2AA)The Commissioner may determine that land tax in respect of land for a year is not payable until the expiry of a 6 month period that begins and ends in that year if—

(a)an immediate family member of a person with a disability (qualifying) becomes the owner of the land on or after 1 July in the preceding year; and

(b)as at 31 December in the preceding year, the person with a disability (qualifying) does not use or occupy the land as the person's principal place of residence; and

(c)the Commissioner is satisfied that the person with a disability (qualifying) intends to continuously use and occupy the land as the person's principal place of residence for the 6 month period.".

(2)In section 55A(3) of the Land Tax Act 2005, for "subsection (1) or (2)" substitute "subsection (1), (2) or (2AA)".

47Absence from principal place of residence

(1)For section 56(1)(c) of the Land Tax Act 2005 substitute—

"(c)that, in respect of the period of absence, no other land is exempt land under this Division or under a law of another jurisdiction (whether in or outside Australia) as the principal place of residence of—

(i)under section 54(1)(a), the owner; or

(ii)under section 54(1)(b), the vested beneficiary in relation to the land; or

(iii)under section 54(1)(c), the person with a disability (qualifying).".

(2)For section 56(1B) of the Land Tax Act 2005 substitute—

"(1B)Subsection (1A) does not apply in relation to—

(a)a person who has a right to reside on the land; or

(b)a person with a disability (qualifying) using and occupying as the person's principal place of residence land owned by an immediate family member.".

(3)In section 56(4)(b) of the Land Tax Act 2005—

(a)in subparagraph (ii), for "absence." substitute "absence; or";

(b)after subparagraph (ii) insert—

"(iii)in the case of an immediate family member of a person with a disability (qualifying)—by the person with a disability (qualifying) as the person's principal place of residence for a period of at least 6 consecutive months immediately before the person's absence.".

48Exemption continues on death of resident

In section 57(4) of the Land Tax Act 2005—

(a)in paragraph (b), for "land." substitute "land; or";

(b)after paragraph (b) insert—

"(c)was a person with a disability (qualifying) and the land was owned by an immediate family member.".

49Exemption continues if land becomes unfit for occupation

In section 58(4) of the Land Tax Act 2005, for "owner or, in the case of a trustee, as the principal place of residence of a vested beneficiary in relation to the land" substitute "person referred to in section 54(1)(a), (b) or (c) as using or occupying the land".

50Sale of old principal residence

In section 60 of the Land Tax Act 2005—

(a)in subsection (1)(a)(i), for "section 54(1)" substitute "section 54(1)(a)";

(b)in subsection (2)(a)(i), for "section 54(1)" substitute "section 54(1)(b)".

51Partial exemption if land used for business activities

In section 62(1) of the Land Tax Act 2005, for "owner, a vested beneficiary in relation to the land or a natural person who has a right to reside on the land (as the case requires)" substitute "qualifying person".

Division 4—Construction and renovation of principal place of residence

52Unoccupied land subsequently used as principal place of residence

In section 61(2) of the Land Tax Act 2005, for "Subsection" substitute "Subject to section 61I, subsection".

53New section 61I inserted

After section 61H of the Land Tax Act 2005 insert—

"61I   Commissioner has discretion to extend exemption period

(1)The Commissioner may determine that section 61 applies to land for—

(a)the year that is 5 years after the year in which the works start date occurred; or

(b)both the year that is 5 years and the year that is 6 years after the year in which the works start date occurred.

(2)For the purposes of making a determination under subsection (1), the Commissioner must be satisfied that—

(a)a company has been contracted to undertake the construction or renovation of a residence on the land; and

(b)a liquidator has been appointed to wind up the company; and

(c)because of the circumstances referred to in paragraph (b), the works finish date for the construction or renovation has not occurred.

(3)If the Commissioner makes a determination under subsection (1)(a), the following provisions apply to the land as if a reference to 4 years were a reference to 5 years—

(a)paragraph (b) of the definition of qualifying occupation date;

(b)sections 61C(1) and (2) and 61G(1).

(4)If the Commissioner makes a determination under subsection (1)(b), the following provisions apply to the land as if a reference to 4 years were a reference to 6 years—

(a)paragraph (b) of the definition of qualifying occupation date;

(b)sections 61C(1) and (2) and 61G(1).".

Division 5—Conservation covenants

54New section 86A inserted

After section 86 of the Land Tax Act 2005 insert—

"86A   Land subject to a conservation covenant

(1)Land is exempt land if the Commissioner determines that it is subject to a conservation covenant.

(2)To obtain an exemption from land tax under this section, the owner of the land must—

(a)apply to the Commissioner for the exemption; and

(b)give the Commissioner any information the Commissioner requests for the purpose of enabling the Commissioner to determine whether the land is exempt under this section. 

(3)If the Commissioner determines that a part of the land is subject to a conservation covenant—

(a)land tax is assessable for the tax year on the part of the land that is not exempt land; and

(b)section 22 applies, if necessary, for that purpose.

(4)In this section—

conservation covenant means a covenant entered into by an owner of land and recorded in the Register under section 3A of the Victorian Conservation Trust Act 1972.".

Division 6—Statute law revision

55Statute law revision amendments

(1)In section 39A(2)(b)(ii) of the Land Tax Act 2005, after "period" insert "of".

(2)In section 39B(1)(b)(i) of the Land Tax Act 2005, after "period" insert "of".

(3)In Part 1 of Schedule 2 to the Land Tax Act 2005, for "Moreland" substitute "Merri-bek".

(4)In Schedule 2A to the Land Tax Act 2005, for "Moreland" substitute "Merri-bek".

PART 5—AMENDMENT OF PAYROLL TAX ACT 2007

Division 1—Corporate collective investment vehicles

56Definitions

In section 3(1) of the Payroll Tax Act 2007 insert the following definition—

"corporate collective investment vehicle or CCIV has the same meaning as in the Corporations Act;".

57New Part 1A of Schedule 2 inserted

After Part 1 of Schedule 2 to the Payroll Tax Act 2007 insert—

"PART 1A—WAGES

1AAPayments by a corporate collective investment vehicle to its corporate director

Wages, as that term is given meaning in Part 3 of this Act, do not include amounts paid or payable by a CCIV to its corporate director.".

Division 2—Payroll tax liability

58Definitions—Schedule 1

In clause 1 of Schedule 1 to the Payroll Tax Act 2007, in the definition of R, in paragraph (h), after "2021" insert "and each subsequent financial year".

Division 3—COVID-19 debt temporary payroll tax surcharge

59Definitions—Schedule 1

In clause 1 of Schedule 1 to the Payroll Tax Act 2007 insert the following definition—

"COVID-19 debt temporary payroll tax surcharge means an additional amount of payroll tax calculated in accordance with this Schedule, being the amount represented in a formula by the variable T;".

60New clause 1B of Schedule 1 inserted

After clause 1A of Schedule 1 to the Payroll Tax Act 2007 insert—

"1B   Determination of COVID-19 debt temporary payroll tax surcharge

For the purposes of this Schedule, the amount of the COVID-19 debt temporary payroll tax surcharge is—

(a)for a financial year commencing on or after 1 July 2023 and before 1 July 2033—the amount equal to S; or

(b)for a financial year commencing on or after 1 July 2033—zero.".

61Payroll of employer over threshold

In clause 5 of Schedule 1 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

62Payroll of group over threshold where section 87(2) approval in force—employers covered by joint return are all of the same type

(1)In clause 9(3) of Schedule 1 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

(2)In clause 9(4) of Schedule 1 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

63Payroll of group over threshold where section 87(2) approval in force—employers covered by joint return are not all of the same type

(1)In clause 9A(3) of Schedule 1 to the Payroll Tax Act 2007, for—

" "

substitute—

".

(2)In clause 9A(4) of Schedule 1 to the Payroll Tax Act 2007, for—

"

substitute—

" ".

64Payroll of group over threshold—where no section 87(2) approval in force

(1)In clause 9B(3) of Schedule 1 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

(2)In clause 9B(4) of Schedule 1 to the Payroll Tax Act 2007, for—

"

substitute—

" ".

65Calculation of payroll tax

In clause 12 of Schedule 1 to the Payroll Tax Act 2007, for—

"

substitute—

" ".

66Definitions—Schedule 2

In clause 1A of Schedule 2 to the Payroll Tax Act 2007 insert the following definition—

"COVID-19 debt temporary payroll tax surcharge has the same meaning as in clause 1 of Schedule 1;".

67New clause 1B of Schedule 2 inserted

After clause 1A of Schedule 2 to the Payroll Tax Act 2007 insert—

"1B   Determination of COVID-19 debt temporary payroll tax surcharge

For the purposes of this Schedule, the amount of the COVID-19 debt temporary payroll tax surcharge is—

(a)for a financial year commencing on or after 1 July 2023 and before 1 July 2033—the amount equal to S; or

(b)for a financial year commencing on or after 1 July 2033—zero.".

68Amount of payroll tax to be paid each month

In clause 4(1) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

69Monthly payroll tax payable where section 87(2) approval in force—employers covered by joint return are all of the same type

(1)In clause 8(2) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

(2)In clause 8(3) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

70Monthly payroll tax payable where section 87(2) approval in force—employers covered by joint return are not all of the same type

(1)In clause 8A(2) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

".

(2)In clause 8A(3) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

71Monthly payroll tax payable where no section 87(2) approval in force

(1)In clause 8B(2) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

(2)In clause 8B(3) of Schedule 2 to the Payroll Tax Act 2007, for—

" "

substitute—

" ".

72Amount of payroll tax to be paid each month

In clause 12 of Schedule 2 to the Payroll Tax Act 2007, for—

"

substitute—

" ".

Division 4—Payroll tax thresholds and deductions

73Registration

For section 86(6)(d) of the Payroll Tax Act 2007 substitute—

"(d)for the financial year commencing on 1 July 2021, 2022 or 2023—$13 461 per week;

(e)for the financial year commencing on 1 July 2024—$17 307 per week;

(f)for the financial year commencing on 1 July 2025 and each subsequent financial year—$19 230 per week.".

74Definitions—Schedule 1

In clause 1 of Schedule 1 to the Payroll Tax Act 2007—

(a)insert the following definitions—

"APT or annual phase out threshold means, for the financial year commencing on 1 July 2024 and each subsequent financial year—$3 000 000;

net deduction means the amount of a deduction from payroll tax calculated in accordance with this Schedule, being the amount represented in a formula by the variable ND;

PR or phase out rate means—

(a)for the financial year commencing on 1 July 2024—45%;

(b)for the financial year commencing on 1 July 2025 and each subsequent financial year—50%;";

(b)in the definition of TA or threshold amount, for paragraph (e) substitute—

"(e)for the financial year commencing on 1 July 2021, 2022 or 2023—$700 000;

(f)for the financial year commencing on 1 July 2024—$900 000;

(g)for the financial year commencing on 1 July 2025 and each subsequent financial year—$1 000 000.".

75Payroll of employer over threshold

For clause 5 of Schedule 1 to the Payroll Tax Act 2007 substitute—

"5   Payroll of employer over threshold

(1)If the total taxable wages and interstate wages paid or payable by an employer (otherwise than as a member of a group) during a financial year is more than the employer's threshold amount, the employer is liable to pay as payroll tax for that year the amount of dollars calculated in accordance with the following formula—

where ND is the lesser of the following amounts—

(a)the amount calculated in accordance with the following formula—

(b)the amount calculated in accordance with the following formula—

where S is—

(a)if the total taxable wages and interstate wages paid or payable by the employer (otherwise than as a member of a group) during the relevant financial year is not more than the first surcharge threshold amount—zero; or

(b)if the total taxable wages and interstate wages paid or payable by the employer (otherwise than as a member of a group) during the relevant financial year is more than the first surcharge threshold amount, but not more than the second surcharge threshold amount, the amount calculated in accordance with the following formula—

; or

(c)if the total taxable wages and interstate wages paid or payable by the employer (otherwise than as a member of a group) during the relevant financial year is more than the second surcharge threshold amount, the amount calculated in accordance with the following formula—

(2)For the purposes of subclause (1), if the amount calculated in accordance with the formula in paragraph (a) of the definition of the variable ND is an amount that is less than zero, the amount is taken to be zero.".

76Clause 7A of Schedule 1 substituted

For clause 7A of Schedule 1 to the Payroll Tax Act 2007 substitute—

"7A   Deductible amount for the purposes of this Part

(1)For the purposes of this Part, the deductible amount is the lesser of the following amounts—

(a)the amount calculated in accordance with the following formula—

(b)the amount calculated in accordance with the following formula—

(2)If the amount calculated in accordance with the formula specified in subclause (1)(a) is an amount that is less than zero, the amount is taken to be zero.".

77Definitions—Schedule 2

In clause 1A of Schedule 2 to the Payroll Tax Act 2007—

(a)insert the following definitions—

"APT or annual phase out threshold has the same meaning as in clause 1 of Schedule 1;

PR or phase out rate has the same meaning as in clause 1 of Schedule 1;";

(b)for paragraph (d) of the definition of base deductible amount or BDA substitute—

"(d)for a month in the financial year commencing on 1 July 2021, 2022 or 2023—$58 333;

(e)for a month in the financial year commencing on 1 July 2024—$75 000;

(f)for a month in the financial year commencing on 1 July 2025 and each subsequent financial year—$83 333;".

78Deductible amount for employer who does not pay interstate wages

For clause 5(1) of Schedule 2 to the Payroll Tax Act 2007 substitute—

"(1)For an employer who pays or is liable to pay taxable wages in a month but does not pay and is not liable to pay interstate wages in that month, the deductible amount in respect of that month is the lesser of the following amounts—

(a)the amount calculated in accordance with the following formula—

(b)the base deductible amount.

(1A)If the amount calculated in accordance with the formula specified in subclause (1)(a) is an amount that is less than zero, the amount is taken to be zero.".

79Deductible amount for employer who pays interstate wages

For clause 6(3) of Schedule 2 to the Payroll Tax Act 2007 substitute—

"(3)The amount is the lesser of the following amounts—

(a)the amount calculated in accordance with the following formula—

(b)the amount calculated in accordance with the following formula—

(3A)If the amount calculated in accordance with the formula specified in subclause (3)(a) is an amount that is less than zero, the amount is taken to be zero.".

80Deductible amount for groups that do not pay interstate wages

For clause 9(1) of Schedule 2 to the Payroll Tax Act 2007 substitute—

"(1)For a group in which one or more members pay or are liable to pay taxable wages in a month but no members pay or are liable to pay interstate wages in that month, the deductible amount in respect of that month is the lesser of the following amounts—

(a)the amount calculated in accordance with the following formula—

(b)the base deductible amount.

(1A)If the amount calculated in accordance with the formula specified in subclause (1)(a) is an amount that is less than zero, the amount is taken to be zero.".

81Deductible amount for groups that pay interstate wages

For clause 10(3) of Schedule 2 to the Payroll Tax Act 2007 substitute—

"(3)The amount is the lesser of the following amounts—

(a)the amount calculated in accordance with the following formula—

(b)the amount calculated in accordance with the following formula—

(3A)If the amount calculated in accordance with the formula specified in subclause (3)(a) is an amount that is less than zero, the amount is taken to be zero.".

Division 5—Declared schools

82Schools and school councils

(1)In clause 14(1) of Schedule 2 to the Payroll Tax Act 2007, after "exempt wages" insert "if the school is declared in accordance with this clause".

(2)After clause 14(2) of Schedule 2 to the Payroll Tax Act 2007 insert—

"(3)The Minister for Education, with the written consent of the Treasurer and having regard to the matters specified in subclause (4), may declare a school for the purposes of this Division by notice published in the Government Gazette.

(4)For the purposes of subclause (3), the matters are the following—

(a)the fees and charges imposed by the school in relation to the provision of education within that school;

(b)any other financial contributions received by the school;

(c)any other matter that the Minister considers appropriate.

(5)The Minister for Education, with the written consent of the Treasurer, may withdraw a declaration by further notice published in the Government Gazette.".

Division 6—Statute law revision

83Statute law revision amendment

In clause 2(c) of Schedule 2 to the Payroll Tax Act 2007, for "4·90%;." substitute "4·90%;".

PART 6—AMENDMENT OF PLANNING AND ENVIRONMENT ACT 1987

Division 1—Plans of subdivision for which statement of compliance not required

84Definitions—Part 9B

In section 201R of the Planning and Environment Act 1987 insert the following definition—

"non‑SOC plan of subdivision means a plan of subdivision submitted under section 35 of the Subdivision Act 1988 for which a statement of compliance is not required to be issued before that plan is registered under that Act;".

85GAIC events

After section 201RA(a) of the Planning and Environment Act 1987 insert—

"(ab)the certification of a non‑SOC plan of subdivision in relation to land in the contribution area;".

86Excluded events

In section 201RB of the Planning and Environment Act 1987—

(a)after paragraph (a) insert—

"(ab)the certification of a non‑SOC plan of subdivision in relation to land in the contribution area that is an excluded subdivision of land; or";

(b)after paragraph (c) insert—

"(ca)a dutiable transaction that involves the vesting of a fee simple interest in part of a parcel of land under section 24 of the Land Acquisition and Compensation Act 1986 that is all or partly in the contribution area; or

(cb)a dutiable transaction relating to land that is all or partly in the contribution area that involves the acquisition of an economic entitlement within the meaning of section 32XC of the Duties Act 2000 which, under section 32XD of that Act, is taken to be the acquisition of beneficial ownership of the land chargeable with duty under Chapter 2 of that Act; or".

87What is a sub‑sale of dutiable property?

In section 201RD of the Planning and Environment Act 1987, after "32I(1)(d)" insert ", 32O(1)(d)".

88New section 201RJ inserted

After section 201RI of the Planning and Environment Act 1987 insert—

"201RJ   Application of Divisions 2 and 3 if there is GAIC event that is a certification of a non‑SOC plan of subdivision

Divisions 2 and 3 (except sections 201SE, 201SF, 201SL, 201SPAA and 201SR) apply, with any necessary modifications, in relation to the certification of a non‑SOC plan of subdivision as if any reference to the issue of a statement of compliance relating to a plan of subdivision were a reference to the certification of a non‑SOC plan of subdivision.".

89Time of occurrence of GAIC event

For section 201SE(a) of the Planning and Environment Act 1987 substitute—

"(a)in the case of a plan of subdivision of land—

(i)if the plan of subdivision is a non‑SOC plan of subdivision, the day on which the plan of subdivision is certified; or

(ii)in any other case, when the statement of compliance relating to the plan of subdivision is issued;".

90Persons liable to pay GAIC

After section 201SF(2) of the Planning and Environment Act 1987 insert—

"(2A)The person who is liable to pay a growth areas infrastructure contribution imposed in respect of the certification of a non‑SOC plan of subdivision in relation to land in the contribution area is—

(a)if the land vests under the Land Acquisition and Compensation Act 1986, the person who was the owner of the land immediately before that vesting; or

(b)in any other case, the person who is the owner of the land immediately after the certification of the plan of subdivision.".

91When and to whom the GAIC is payable

After section 201SL(1)(a) of the Planning and Environment Act 1987 insert—

"(ab)in the case of liability arising from the certification of a non‑SOC plan of subdivision, within 3 months after the liability arises;".

92Time for payment of apportioned and deferred GAIC on public purpose land subdivision

(1)For section 201SPAA(1)(b) of the Planning and Environment Act 1987 substitute—

"(b)either of the following occurs—

(i)a statement of compliance relating to a plan of subdivision of all or any part of that land is issued and the sole purpose of that plan is to provide for public purpose land;

(ii)a non‑SOC plan of subdivision in relation to all or any part of that land is certified and the sole purpose of the acquisition of the land to which that plan relates is to provide for public purpose land.".

(2)For section 201SPAA(3)(a) of the Planning and Environment Act 1987 substitute—

"(a)the proportion of the growth areas infrastructure contribution that is apportioned under section 201SOC to public purpose land (a PPL proportion) must be paid within 3 months after the day on which—

(i)the statement of compliance is issued; or

(ii)the non‑SOC plan of subdivision is certified; and".

93Certificate of no GAIC liability

In section 201SZD of the Planning and Environment Act 1987, for "paragraph (a)," substitute "paragraph (a), (ab),".

94Notice to Registrar regarding registration of subdivision or transfer of land

In section 201SZG(1) of the Planning and Environment Act 1987, after "subdivision of land" insert "(except a subdivision of land in relation to a non‑SOC plan of subdivision)".

95Exemption from paying GAIC if duties exemption would apply

In section 201TB(2) of the Planning and Environment Act 1987—

(a)after "34(1)(b)," insert "34(1A),";

(b)for "43(3)" substitute "43(1)";

(c)after "46(2)(c)," insert "47(1),";

(d)after "47(2)," insert "47A(1),".

Division 2—Abolition of Growth Areas Infrastructure Contribution Hardship Relief Board

96When and to whom the GAIC is payable

(1)In section 201SL(5) of the Planning and Environment Act 1987—

(a)for "section 201TE, 201TF, 201TH or 201TI" substitute "section 201TE or 201TF";

(b)in paragraph (b) omit "or 201TK".

(2)The note at the foot of section 201SL(5) of the Planning and Environment Act 1987 is repealed.

97Liability to pay deferred GAIC in relation to subsequent dutiable transactions

(1)In section 201SMAA(6)(a) of the Planning and Environment Act 1987—

(a)for "section 201TE, 201TF or 201TH" substitute "section 201TE or 201TF";

(b)in subparagraph (ii) omit "or 201TK".

(2)The note at the foot of section 201SMAA(6) of the Planning and Environment Act 1987 is repealed.

98Subdivision 1 of Division 3 of Part 9B repealed

Subdivision 1 of Division 3 of Part 9B of the Planning and Environment Act 1987 is repealed.

99Heading to Subdivision 2 of Division 3 of Part 9B amended

In the heading to Subdivision 2 of Division 3 of Part 9B of the Planning and Environment Act 1987 omit "or Board".

100Section 201TE amended

(1)In the heading to section 201TE of the Planning and Environment Act 1987, for "exceptional" substitute "certain".

(2)For section 201TE(1)(b) of the Planning and Environment Act 1987 substitute—

"(b)the Governor in Council is satisfied that—

(i)the liability would cause the person financial hardship; or

(ii)exceptional circumstances exist.".

101Subdivision 4 of Division 3 of Part 9B repealed

Subdivision 4 of Division 3 of Part 9B of the Planning and Environment Act 1987 is repealed.

Division 3—Apportionment of growth areas infrastructure contribution

102Apportionment of GAIC on issue of statement of compliance

In section 201SGA(2) of the Planning and Environment Act 1987—

(a)after "child lot" (where secondly occurring) insert "in the contribution area";

(b)after "parent lot" insert "in the contribution area".

103Apportionment of GAIC on issue of statement of compliance

In section 201SOC(3) of the Planning and Environment Act 1987—

(a)after "child lot" (where secondly occurring) insert "in the contribution area";

(b)after "parent lot" insert "in the contribution area".

Division 4—Transitional provisions

104New section 229 inserted

After section 228 of the Planning and Environment Act 1987 insert—

"229   Transitional provisions—State Taxation Acts Amendment Act 2023

(1)Part 9B, as in force immediately before the commencement of Division 1 of Part 6 of the amending Act, continues to apply in respect of a plan of subdivision submitted under section 35 of the Subdivision Act 1988 for which a statement of compliance is not required to be issued before that plan is registered under the Subdivision Act 1988 if the plan was submitted before the commencement of Division 1 of Part 6 of the amending Act.

(2)On the day on which Division 2 of Part 6 of the amending Act comes into operation—

(a)the Growth Areas Infrastructure Contribution Hardship Relief Board is abolished; and

(b)a person holding office as a member of that Board immediately before that commencement—

(i)ceases to hold that office; and

(ii)is not entitled to any remuneration or compensation because of that loss of office.

(3)If, before the commencement of Division 2 of Part 6 of the amending Act, an application is made to the Growth Areas Infrastructure Contribution Hardship Relief Board in accordance with section 201TH and the application has not been decided before that commencement, section 201TE applies in respect of the application as if it had been made to the Minister under section 201TE(3).

(4)In this section—

amending Act means the State Taxation Acts Amendment Act 2023.".

PART 7—AMENDMENT OF SUBDIVISION ACT 1988

105When can the Registrar register a plan?

For section 22(1)(g) of the Subdivision Act 1988 substitute—

"(g)in the case of a plan of subdivision of land (other than a plan of subdivision submitted under section 35) in respect of which there is a GAIC recording, the application to register the plan is supported by—

(i)a notice relating to that land issued by the Commissioner of State Revenue under section 201SZG of the Planning and Environment Act 1987; or

(ii)an application relating to that land made under section 201UC of the Planning and Environment Act 1987 by the Victorian Planning Authority or the Commissioner of State Revenue.".

106What is the effect of registration?

After section 24(2A) of the Subdivision Act 1988 insert—

"(2B)Nothing in this section discharges a liability for a growth areas infrastructure contribution that has arisen in relation to land under Part 9B of the Planning and Environment Act 1987.".

107Acquisition of land by acquiring authority

After section 35(10) of the Subdivision Act 1988 insert—

"(11)A Council, within 7 days after certifying a plan of subdivision specified in subsection (12), must give a notice to the Commissioner of State Revenue referred to in section 62 of the Taxation Administration Act 1997 that the plan has been certified unless—

(a)the certification of the plan is an excluded event (within the meaning of section 201RB of the Planning and Environment Act 1987); or

(b)any one of the circumstances described in section 201SA of the Planning and Environment Act 1987 applies to the land.

(12)For the purposes of subsection (11), the specified plan of subdivision is a plan of subdivision—

(a)submitted under this section; and

(b)for which a statement of compliance is not required to be issued before registration of the plan; and

(c)that relates to land in respect of which there is a GAIC recording (within the meaning of Part 9B of the Planning and Environment Act 1987).".

PART 8—AMENDMENT OF TAXATION ADMINISTRATION ACT 1997

108Objection

After section 96(2) of the Taxation Administration Act 1997 insert—

"(3)A taxpayer who is dissatisfied with a valuation referred to in subsection (1)(cb) and lodges a written objection in relation to that valuation must object to both valuations used by the Commissioner in the assessment of windfall gains tax, regardless of whether the grounds for the objection relate to only one of those valuations.".

PART 9—AMENDMENT OF VALUATION OF LAND ACT 1960

109Who may object?

After section 16(6AB) of the Valuation of Land Act 1960 insert—

"(6AC)A person referred to in subsection (6AB) who lodges a written objection to a valuation referred to in that subsection must object to both valuations referred to in that subsection, regardless of whether the grounds for the objection relate to only one of those valuations.".

110Determination of objection

(1)In section 21(6) of the Valuation of Land Act 1960, after "Subject to" insert "subsection (6A) or to".

(2)After section 21(6) of the Valuation of Land Act 1960 insert—

"(6A)A rating authority is not required to give effect to a decision of the valuer-general made in relation to a valuation referred to in section 16(6AB).".

PART 10—REPEAL OF THIS ACT

111Repeal of this Act

This Act is repealed on 1 July 2025.

Note

The repeal of this Act does not affect the continuing operation of the amendments made by it (see section 15(1) of the Interpretation of Legislation Act 1984).

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ENDNOTES

1   General information

See for Victorian Bills, Acts and current authorised versions of legislation and up-to-date legislative information.

Minister's second reading speech—

Legislative Assembly: 30 May 2023

Legislative Council: 20 June 2023

The long title for the Bill for this Act was "A Bill for an Act to amend the Duties Act 2000, the Fire Services Property Levy Act 2012, the Land Tax Act 2005, the Payroll Tax Act 2007, the Planning and Environment Act 1987, the Subdivision Act 1988, the Taxation Administration Act 1997 and the Valuation of Land Act 1960 and for other purposes."