Untitled document
State Taxation and Financial Legislation Amendment Act 2013
No. 69 of 2013
table of provisions
Section Page
Part 1—Preliminary
1Purposes
2Commencement
Part 2—Amendment of Commonwealth Places (Mirror Taxes Administration) Act 1999
3New sections 7A and 7B inserted
7AModified operation of State taxing laws
7BActions taken under corresponding applied law
Part 3—Amendment of Duties Act 2000
Division 1—National Electronic Conveyancing System amendments
4Definition of ELN inserted
5References to ELN
6New section 251C inserted
251CDefinitions
7Authentication of payment of duty using on-line duty
payment system8Registration of instruments
Division 2—Statute law revision
9Concessional rate of duty for certain PPR transfers
10Registration of approved agents
Part 4—Amendment of Financial Management
Act 1994
11Definitions of specified entity and accountable officer inserted
12New section 54AA inserted
54AASpecified entities
13Inclusion of specified entities
Part 5—Amendment of Land Tax Act 2005
14Definitions
15Absence from principal place of residence—indefinite
absence permitted in certain circumstances16Sale of old principal residence
Part 6—Amendment of Taxation Administration Act 1997
17Permitted disclosures—Electronic Lodgment Network
Part 7—Amendment of Unclaimed Money Act 2008
18Definition of proper officer
19Definition of unclaimed money
20Registrar of Unclaimed Money
21Deputy Registrar of Unclaimed Money
22Delegation
23Provision of staff
24Use of consultants and contractors
25Authorised investigations
26Permitted disclosures to particular persons
Part 8—Repeal of Amending Act
27Repeal of amending Act
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Endnotes
State Taxation and Financial Legislation Amendment Act 2013
No. 69 of 2013
[Assented to 19 November 2013]
The Parliament of Victoria enacts:
Part 1—Preliminary
1Purposes
The purposes of this Act are—
(a)to amend the Commonwealth Places (Mirror Taxes Administration) Act 1999—
(i)to provide for the generic modification of taxation Acts to enable the effective operation of the mirror taxes scheme; and
(ii)to waive the requirement to do things under a taxation Act if those things have been done under a corresponding applied law of the Commonwealth; and
(b)to amend the Duties Act 2000 to make provision for dutiable transactions effected electronically by means of an Electronic Lodgment Network; and
(c)to amend the Financial Management Act 1994 to provide for additional entities to be subject to the supply management provisions of Part 7A of that Act; and
(d)to amend the Land Tax Act 2005—
(i)to extend the principal place of residence exemption to principal beneficiaries of special disability trusts; and
(ii)to remove the 6 year time limit on the principal place of residence exemption in certain circumstances; and
(e)to amend the Taxation Administration Act 1997 to authorise disclosures of information made in connection with the provision, operation or use of an Electronic Lodgment Network; and
(f)to amend the Unclaimed Money Act 2008—
(i)to make further provision for the powers of the Registrar and Deputy Registrar; and
(ii)to authorise additional bodies as recipients of information obtained under or in relation to that Act; and
(g)to make other miscellaneous amendments.
2Commencement
(1)Parts 1, 4, 5 and 7 and Division 2 of Part 3 of this Act come into operation on the day after the day this Act receives the Royal Assent.
(2)Part 2 of this Act is taken to have come into operation on 30 January 2001.
(3)Subject to subsection (4), the remaining provisions of this Act come into operation on a day or days to be proclaimed.
(4)If a provision of this Act does not come into operation before 1 December 2014, it comes into operation on that day.
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Part 2—Amendment of Commonwealth Places (Mirror Taxes Administration) Act 1999
3New sections 7A and 7B inserted
After section 7 of the Commonwealth Places (Mirror Taxes Administration) Act 1999 insert—
"7A Modified operation of State taxing laws
(1)If, in relation to a State taxing law, there is a corresponding applied law, the State taxing law is to be read and construed with any modifications that are necessary or convenient for any of the following purposes—
(a)for the purpose of enabling the effective operation of the State taxing law in conjunction with the corresponding applied law;
(b)for the purpose of enabling the State taxing law to operate so that a taxpayer has a combined liability under—
(i)the State taxing law; and
(ii)the corresponding applied law—
that is as nearly as possible the same as the taxpayer's liability would be under the State taxing law alone if the Commonwealth places in the State were not Commonwealth places.
(2)If a State taxing law applies to an event, state of affairs or transaction that occurred, existed or was entered into on or after 30 January 2001, then, to the extent of any inconsistency, the modifications (if any) to the State taxing law that have effect under this section in relation to the event, state of affairs or transaction prevail over the amendments (if any) to the State taxing law made by section 19.
Note
Section 19 of this Act amended the Debits Tax Act 1990, the Financial Institutions Duty Act 1982, the Pay-roll Tax Act 1971, the Stamps Act 1958 and the Taxation Administration Act 1997.
7BActions taken under corresponding applied law
(1)A person is not required to take an action in relation to an event, state of affairs or transaction that is otherwise required or permitted, or could be required or permitted, under a State taxing law that applies, or could apply, to any extent, to or in relation to the event, state of affairs or transaction if—
(a)a corresponding applied law applies, or could apply, to any extent, to or in relation to the same event, state of affairs or transaction; and
(b)the person is required or permitted, or could be required or permitted, to take the action under both the State taxing law and the corresponding applied law in relation to the event, state of affairs or transaction; and
(c)the person has taken the action in accordance with the corresponding applied law; and
(d)the Commissioner of State Revenue has sufficient information about the event, state of affairs or transaction to carry out his or her functions in relation to it under the State taxing law or the corresponding applied law or both, as the case requires.
(2)If subsection (1) applies to a person in relation to an event, state of affairs or transaction, the Commissioner of State Revenue may carry out his or her functions in relation to the event, state of affairs or transaction as if the person had taken whatever action is required or permitted under the State taxing law in relation to the event, state of affairs or transaction.".
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Part 3—Amendment of Duties Act 2000
Division 1—National Electronic Conveyancing System amendments
4Definition of ELN inserted
In section 3(1) of the Duties Act 2000 insert the following definition—
"ELN means ELN within the meaning of the Electronic Conveyancing National Law (Victoria);".
5References to ELN
In the Duties Act 2000—
(a)in section 14(5), after "electronically" insert "by means of an ELN or";
(b)in section 15(2), after "electronically" insert "by means of an ELN or";
(c)in section 30(7), after "electronically" insert "by means of an ELN or".
6New section 251C inserted
After the heading to Part 1 of Chapter 12 of the Duties Act 2000 insert—
"251C Definitions
In this Part—
electronic instrument means a registry instrument that is prepared in an electronic form to be lodged electronically for the purposes of land titles legislation by means of an ELN;
land titles legislation has the same meaning as in section 5 of the Electronic Conveyancing (Adoption of National Law) Act 2013;
registry instrument has the same meaning as in section 4(1) of the Transfer of Land Act 1958.".
7Authentication of payment of duty using on-line duty payment system
In section 255A(2) of the Duties Act 2000, after "instrument" insert "or electronic instrument".
8Registration of instruments
In section 269 of the Duties Act 2000, after "transaction" insert ", an electronic instrument that effects or evidences a dutiable transaction".
Division 2—Statute law revision
9Concessional rate of duty for certain PPR transfers
In the note at the foot of section 57J of the Duties Act 2000, for "$500 000" substitute "$550 000".
10Registration of approved agents
In section 248A(4) of the Duties Act 2000, in the definition of Secretary, for "Department of Primary Industries" substitute "Department of Environment and Primary Industries".
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Part 4—Amendment of Financial Management Act 1994
11Definitions of specified entity and accountable officer inserted
In section 3 of the Financial Management Act 1994—
(a)insert the following definition—
"specified entity means an entity specified under section 54AA for the purposes of Part 7A;";
(b)for the definition of accountable officer substitute—
"accountable officer means—
(a)in relation to a department or public body, the accountable officer for the department or public body as determined under section 42;
(b)in relation to a specified entity that is not a department or public body, the chief executive officer (by whatever name called) of the specified entity;".
12New section 54AA inserted
After the heading to Part 7A of the Financial Management Act 1994 insert—
"54AA Specified entities
(1)The Governor in Council, by Order, may declare that an entity, or a class of entities, is a specified entity or entities for the purposes of this Part.
(2)The Governor in Council may declare that an entity or class of entities is a specified entity or entities only if the entities, or all entities of the class, are entities the transactions of which form part of the transactions of the State for the purposes of section 24(2)(b).
(3)An Order under this section may declare that an entity or class of entities is a specified entity for all the purposes of this Part or only in relation to specified provisions of this Part or specified provisions of a supply policy made under section 54L.".
13Inclusion of specified entities
In the Financial Management Act 1994—
(a)in section 54B(a), after "departments" (where twice occurring) insert "and specified entities";
(b)in section 54B(b), for "departmental compliance" substitute "compliance by departments and specified entities";
(c)in section 54B(d), after "departments" (where twice occurring) insert "and specified entities";
(d)in section 54C(2)(a) and (c), after "departments" insert "or specified entities";
(e)in section 54C(2)(d), for "departmental compliance" substitute "compliance by departments and specified entities";
(f)in section 54H(4)(a), after "department" insert ", specified entity";
(g)in section 54L(1), after "departments" (where twice occurring) insert "and specified entities";
(h)in section 54L(2)(g), after "departments," insert "specified entities,";
(i)in section 54L(4), after "departments" insert "and specified entities".
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Part 5—Amendment of Land Tax Act 2005
14Definitions
(1)In section 52(1) of the Land Tax Act 2005 insert the following definitions—
"principal beneficiary, of a special disability trust—
(a)has the meaning given in section 1209M(1) of the Social Security Act, in the case of a special disability trust within the meaning of section 1209L of that Act;
(b)has the meaning given in section 52ZZZWA(1) of the Veterans' Entitlements Act, in the case of a special disability trust within the meaning of section 52ZZZW of that Act;
Social Security Act means the Social Security Act 1991 of the Commonwealth;
special disability trust means—
(a)a special disability trust within the meaning of section 1209L of the Social Security Act; or
(b)a special disability trust within the meaning of section 52ZZZW of the Veterans' Entitlements Act;
Veterans' Entitlements Act means the Veterans' Entitlements Act 1986 of the Commonwealth.".
(2)In section 52(1) of the Land Tax Act 2005, in paragraph (b) of the definition of vested beneficiary, for "land." substitute "land or is the principal beneficiary of a special disability trust;".
15Absence from principal place of residence—indefinite absence permitted in certain circumstances
(1)In section 56(6) of the Land Tax Act 2005, for "under this section" substitute "under subsection (1)".
(2)In the note at the foot of section 56(6) of the Land Tax Act 2005, after "taken" insert "under subsection (1)".
16Sale of old principal residence
In section 60(3) of the Land Tax Act 2005, for "subsection (1)(b) or (2)(b)" substitute "subsection (1)(a) or (2)(a)".
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Part 6—Amendment of Taxation Administration Act 1997
17Permitted disclosures—Electronic Lodgment Network
(1)In section 92(1) of the Taxation Administration Act 1997—
(a)in paragraph (f), for "2005." substitute "2005; or";
(b)after paragraph (f) insert—
"(g)in connection with the provision, operation or use of an ELN, in the case of information obtained under or in relation to the administration of the Duties Act 2000.".
(2)In section 92(2) of the Taxation Administration Act 1997 insert the following definition—
"ELN means ELN within the meaning of the Electronic Conveyancing National Law (Victoria);".
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Part 7—Amendment of Unclaimed Money Act 2008
18Definition of proper officer
In section 3(1) of the Unclaimed Money Act 2008, in paragraph (a) of the definition of proper officer, after "Prothonotary" insert "or the Senior Master of the Supreme Court".
19Definition of unclaimed money
After section 3(2) of the Unclaimed Money Act 2008 insert—
"(2A)For the purposes of the definition of unclaimed money in subsection (1), an amount of money that consists of both principal and interest is unclaimed money if the sum of the principal and interest is equal to or greater than $20 or the prescribed amount (whichever is higher).".
20Registrar of Unclaimed Money
In section 4(1)(b) of the Unclaimed Money Act 2008, after "regulations" insert "or any other Act".
21Deputy Registrar of Unclaimed Money
For section 5(2) of the Unclaimed Money Act 2008 substitute—
"(2)The Deputy Registrar has the same powers, duties or functions as the Registrar has under this Act or the regulations or any other Act.".
22Delegation
In section 6 of the Unclaimed Money Act 2008, for "to any person employed or engaged in the administration of this Act." substitute—
"to—
(a)an employee referred to in section 7; or
(b)a consultant or contractor engaged under section 8.".
23Provision of staff
In section 7 of the Unclaimed Money Act 2008, after "regulations" insert "or any other Act".
24Use of consultants and contractors
In section 8 of the Unclaimed Money Act 2008, after "functions" insert "under this Act and the regulations or any other Act".
25Authorised investigations
In section 68 of the Unclaimed Money Act 2008, for "The Registrar may authorise" substitute "An authorised investigation is".
26Permitted disclosures to particular persons
After section 77(1)(g)(vii) of the Unclaimed Money Act 2008 insert—
"(viia)the Australian Securities and Investments Commission; or
(viib)the Legal Services Board; or
(viic)the Legal Services Commissioner; or".
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Part 8—Repeal of Amending Act
27Repeal of amending Act
This Act is repealed on 1 December 2015.
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
Minister's second reading speech—
Legislative Assembly: 16 October 2013
Legislative Council: 31 October 2013
The long title for the Bill for this Act was "A Bill for an Act to amend the Commonwealth Places (Mirror Taxes Administration) Act 1999, the Duties Act 2000, the Financial Management Act 1994, the Land Tax Act 2005, the Taxation Administration Act 1997 and the Unclaimed Money Act 2008 and for other purposes."
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