Victorian Numbered Acts

STATE TAXATION ACTS AMENDMENT ACT 2017 (NO. 28 OF 2017)

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Purposes  
   2.      Commencement  

   PART 2--AMENDMENT OF DUTIES ACT 2000

           Division 1--Off-the-plan purchases, principal places of residence and first home buyers

   3.      Definitions  
   4.      What is the consideration for the transfer of dutiable property?  
   5.      Application of Division  
   6.      Provisions for determining consideration  
   7.      Heading to Division 4A of Part 5 of Chapter 2 substituted  
   8.      Definitions  
   9.      What is a PPR transfer?  
   10.     Rates of duty for certain PPR transfers  
   11.     Section 57JA substituted and new section 57JB inserted  
   12.     Residence requirement  
   13.     Variation of residence requirement  
   14.     Liability for duty if residence requirement not complied with  
   15.     Transferee to notify Commissioner of change in circumstances  
   16.     Heading to Division 5 of Part 5 of Chapter 2 substituted  
   17.     Election to receive eligible pensioner exemption/concession  

           Division 2--Provision of information

   18.     What is the consideration for the transfer of dutiable property?  
   19.     Records to be kept  
   20.     Joint and several liability for additional duty  
   21.     Provisions for determining consideration  
   22.     Parties required to provide information to Commissioner  

           Division 3--Sub-sale transactions

   23.     Definitions  
   24.     How duty is charged on transfer  
   25.     Dutiable value of transactions  
   26.     Exemptions and concessions  
   27.     How duty is charged on transfer  
   28.     Dutiable value of transactions  
   29.     Exemptions and concessions  
   30.     New Division 3A of Part 4A of Chapter 2 inserted  
   31.     Heading to Division 4 of Part 4A of Chapter 2 amended  
   32.     Application of Division  
   33.     How duty is charged on transfer  
   34.     Dutiable value of transactions  
   35.     Who is liable to pay the duty?  
   36.     Exemptions and concessions  
   37.     Provisions for determining consideration  

           Division 4--Offences

   38.     Aggregation of certain dutiable transactions  
   39.     Misleading information—Tax avoidance schemes  
   40.     Misleading information—Acquisition of interests in certain landholders  

           Division 5--Marriage and domestic relationships exemption

   41.     Section 43 substituted and new sections 43A to 43D inserted  

           Division 6--Financial exchanges

   42.     Definitions  
   43.     Meaning of landholder  
   44.     New clause 40 of Schedule 2 inserted—transitional provision relating to financial exchanges  

           Division 7--General insurance

   45.     What insurance is exempt from duty?  

           Division 8--Motor vehicle duty

   46.     What is the rate of duty?  

           Division 9--Transitional arrangements

   47.     New clauses 41 and 42 inserted in Schedule 2  

           --Division 3A of Part 4A of Chapter 2 does not apply to a transfer of dutiable property resulting from an option that was granted before the commencement of section 30 of the State Taxation Acts Amendment Act 2017.".

   PART 3--AMENDMENT OF FIRST HOME OWNER GRANT ACT 2000

   48.     Criterion 5—Residence requirement  
   49.     Amount of grant  

   PART 4--AMENDMENT OF LAND TAX ACT 2005

   50.     Definitions  
   51.     General imposition of land tax  
   52.     Taxable value of land  
   53.     New Division 6 of Part 2 inserted  
   54.     What is the rate of land tax?  
   55.     Certain taxable land assessed separately  
   56.     New section 37A inserted  
   57.     Assessment of joint owners of land  
   58.     New section 38A inserted  
   59.     Assessment of owner of land on which there are home units  
   60.     Land tax on parts of land  
   61.     Grouping of related corporations  
   62.     Absence from principal place of residence  
   63.     Retirement villages  
   64.     Exemption of land under construction for certain exempt uses  
   65.     New Division 9 of Part 4 inserted  
   66.     New Schedule 2A inserted  
   67.     New clause 16 inserted in Schedule 3  

   PART 5--AMENDMENT OF PAYROLL TAX ACT 2007

   68.     Definitions  
   69.     New definition inserted  
   70.     New section 12A inserted  
   71.     Definitions for the purposes of Schedule 1  
   72.     Definitions for the purposes of Part 3 of Schedule 1  
   73.     New clause 7A of Schedule 1 inserted  
   74.     Clause 9 of Schedule 1 substituted and new clauses 9A and 9B of Schedule 1 inserted  
   75.     Calculation of monthly payroll tax  
   76.     Rate of payroll tax  
   77.     Clause 8 of Schedule 2 substituted and new clauses 8A and 8B of Schedule 2 inserted  
   78.     Consequential amendments to variable R in formulas set out in clauses 4 and 12 of Schedule 2  

   PART 6--AMENDMENT OF PLANNING AND ENVIRONMENT ACT 1987

   79.     CPI adjusted amount  

   PART 7--AMENDMENT OF TAXATION ADMINISTRATION ACT 1997

           Division 1--Meaning of taxation laws

   80.     Meaning of taxation laws  

           Division 2--Record keeping and general offences

   81.     Instruments and returns to include all relevant information  
   82.     Inclusion of false or misleading information in records  
   83.     Giving false or misleading information to tax officers  
   84.     Deliberately omitting information  
   85.     Criminal liability of officers of bodies corporate—accessorial liability  
   86.     Criminal liability of officers of bodies corporate—failure to exercise due diligence  

           Division 3--Reportable information

   87.     Definitions—reportable information  
   88.     New Division 2B of Part 9 inserted  

           Division 4--Data matching amendments

   89.     Permitted disclosures to particular persons or for particular purposes  

           Division 5--Consequential amendments on imposition of vacant residential land tax

   90.     Definitions  
   91.     Amount of penalty tax  
   92.     Supreme Court—limitation of jurisdiction  

   PART 8--AMENDMENT OF UNCLAIMED MONEY ACT 2008

   93.     Giving false or misleading information to an authorised person  
   94.     Criminal liability of officers of bodies corporate—accessorial liability  
   95.     Criminal liability of officers of bodies corporate—failure to exercise due diligence  
   96.     Registrar may pay owner  
   97.     New section 33A inserted  

   PART 9--REPEAL OF AMENDING ACT

   98.     Repeal of amending Act  
           ENDNOTES