Taxation and Related Legislation (Miscellaneous Amendments) Act 2006
An Act to amend the Duties Act 2001 , the Fire Service Act 1979 , the Pay-roll Tax Act 1971 and the Taxation Administration Act 1997
[Royal Assent 26 June 2006]
Be it enacted by His Excellency the Governor of Tasmania, by and with the advice and consent of the Legislative Council and House of Assembly, in Parliament assembled, as follows:
PART 1Preliminary1Short titleThis Act may be cited as the Taxation and Related Legislation (Miscellaneous Amendments) Act 2006 . 2Commencement (1) This Act, except as specified in subsections (2) and (3) , commences on the day on which this Act receives the Royal Assent. (2) Part 3 commences on 1 July 2007. (3) Part 6 is taken to have commenced on 1 July 2005. PART 2Duties Act 2001 Amended3Principal ActIn this Part, the Duties Act 2001 is referred to as the Principal Act. 4Section 3 amended (Interpretation) Section 3 of the Principal Act is amended as follows: (a) by omitting the definition of insurance intermediary and substituting the following definition: insurance intermediary means – (a) a person who arranges contracts of insurance in Tasmania – (i) for reward; or (ii) as an agent for a person carrying on a business of insurance; or (b) a financial services licensee (as defined in section 761A of the Corporations Act 2001 of the Commonwealth) whose licence covers the arrangement of contracts of insurance as an agent for a person carrying on a business of insurance; or (c) a regulated principal (as defined in section 1430 of the Corporations Act 2001 of the Commonwealth) when carrying on business as an insurance broker as regulated by Subdivision D of Division 1 of Part 10.2 of that Act; (b) by inserting "domain name," after "trading name," in paragraph (a) of the definition of intellectual property ; (c) by inserting "domain name," after "trading name," in paragraph (b)(i) of the definition of intellectual property . 5Section 35 amended (Vesting order) Section 35(1) of the Principal Act is amended by omitting "land" third occurring and substituting "capital". 6Section 53 amended (Exemptions relating to various transactions) Section 53 of the Principal Act is amended by omitting paragraph (b) . 7Section 54 insertedAfter section 53 of the Principal Act , the following section is inserted in Part 6: 54Contracts of sale under Homes Act 1935 Notwithstanding section 7(1) , liability for duty on a contract of sale made under section 17 of the Homes Act 1935 does not arise until a transfer is executed pursuant to the contract. 8Section 56 amended (Exemptions – break-down of marriages) Section 56(3)(b) of the Principal Act is amended by omitting "pursuant to" and substituting "effected by or in accordance with". 9Section 59A insertedAfter section 59 of the Principal Act , the following section is inserted in Division 1: 59ACompany to be treated as private company in certain circumstances Notwithstanding the definition of "private company" in section 3 , for the purposes of this Chapter, a company is a private company if the Commissioner is satisfied that its listing on a recognised stock exchange was part of an arrangement or scheme having as its purpose, or one of its purposes, the defeat of the objects of this Chapter. 10Section 178 amended (Who is an insurer?) Section 178(2)(c) of the Principal Act is amended by omitting "registered under" and substituting "authorised as a general insurer under". 11Section 214 amended (Applicable exemptions) Section 214(1) of the Principal Act is amended as follows: (a) by omitting from paragraph (a) "acquired for the sole" and substituting "acquired and used solely for the"; (b) by inserting in paragraph (b) "and used solely" after "acquired"; (c) by inserting in paragraph (c) "and used solely" after "acquired". 12Section 227 amended (Miscellaneous exemptions) Section 227(1) of the Principal Act is amended by omitting paragraph (h) . PART 3Duties Act 2001 Further Amended13Principal ActIn this Part, the Duties Act 2001 is referred to as the Principal Act. 14Section 163 amended (What is general insurance?) Section 163(2) of the Principal Act is amended as follows: (a) by omitting "General" and substituting "Notwithstanding subsection (3) , general"; (b) by inserting "regardless of how, or by whom, the insurance is effected" after "disease". PART 4Fire Service Act 1979 Amended15Principal ActIn this Part, the Fire Service Act 1979 is referred to as the Principal Act. 16Section 77F amended (Inspectors) Section 77F(1) of the Principal Act is amended by omitting "authorize" and substituting "authorise an authorised officer appointed under the Taxation Administration Act 1997 and". PART 5Pay-roll Tax Act 1971 Amended17Principal ActIn this Part, the Pay-roll Tax Act 1971 is referred to as the Principal Act. 18Section 2AAB amended (Central fund scheme contributions constitute wages for pay-roll tax purposes) Paragraph (b) of the definition of central fund scheme in section 2AAB(3) of the Principal Act is amended as follows: (a) by omitting "various employers pay" and substituting "an employer pays"; (b) by omitting "their" first occurring and substituting "its". 19Section 49 amended (Regulations) Section 49(1) of the Principal Act is amended by omitting paragraph (d) . PART 6Pay-roll Tax Act 1971 Further Amended20Principal ActIn this Part, the Pay-roll Tax Act 1971 is referred to as the Principal Act. 21Section 2AAA amended (Certain trust distributions constitute wages for pay-roll tax purposes) Section 2AAA of the Principal Act is amended by inserting after subsection (7) the following subsection: (8) For the purposes of this section – industrial instrument means an award, enterprise agreement or industrial agreement within the meaning of the Industrial Relations Act 1984 , or an award, certified agreement, Australian workplace agreement or old IR agreement within the meaning of the Workplace Relations Act 1996 of the Commonwealth. PART 7Taxation Administration Act 1997 Amended22Principal ActIn this Part, the Taxation Administration Act 1997 is referred to as the Principal Act. 23Section 4 amended (Meaning of taxation laws) Section 4 of the Principal Act is amended by inserting after paragraph (ac) the following paragraph: (b) Land Tax Rating Act 2000 ; 24Section 34A insertedAfter section 34 of the Principal Act , the following section is inserted in Division 1: 34AImposition of interest where making of duty assessment delayed (1) If in the opinion of the Commissioner the actions of the taxpayer or the taxpayer’s representative, or both the taxpayer and the taxpayer’s representative, unnecessarily delay the making of a duty assessment, the Commissioner may impose interest from the end of the last day for payment until the day on which the duty is paid. (2) For the purposes of subsection (1) , the "last day for payment" is the last day of the period of 3 months after the liability for duty arises as provided in section 10 of the Duties Act 2001 . 25Section 118A insertedAfter section 118 of the Principal Act , the following section is inserted in Division 4: 118AAdministrative fee (1) If a person lodges an instrument with the Commissioner for assessment or lodges a return with the Commissioner, the Commissioner may charge that person a prescribed fee. (2) For the purposes of this section – instrument has the meaning given to that term in the Duties Act 2001 . [Second reading presentation speech made in:
House of Assembly on 1 JUNE 2006
Legislative Council on 14 JUNE 2006]