Victorian Numbered Acts

STATE TAXATION ACTS AND OTHER ACTS AMENDMENT ACT 2023 (NO. 38 OF 2023)

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Purposes  
   2.      Commencement  

   PART 2--AMENDMENT OF DUTIES ACT 2000

   3.      Exemptions from holding controlling interests in foreign corporations or substantial interests in trust estates of foreign trusts  
   4.      Exemptions and concessions—Division 2  
   5.      Exemptions and concessions—Division 3  
   6.      Exemptions and concessions—Division 3A  
   7.      Exemptions and concessions—Division 4  
   8.      Who is an eligible cardholder?  
   9.      Eligible cardholder exemption or concession requirements  
   10.     Election to receive eligible cardholder exemption/concession  
   11.     How duty is charged on relevant acquisitions in public landholders—concessional rate  
   12.     Concession and exemptions for certain transactions arising out of corporate reconstructions, corporate consolidations and arrangements  

   PART 2A--AMENDMENT OF FIRE SERVICES PROPERTY LEVY ACT 2012

   12A.    Amendment of Schedule  

   PART 3--AMENDMENT OF FIRST HOME OWNER GRANT AND HOME BUYER SCHEMES ACT 2000

   13.     Amount of grant  

   PART 4--AMENDMENT OF LOCAL GOVERNMENT ACT 1989

   14.     Definitions  

   PART 5--AMENDMENT OF PROPERTY LAW ACT 1958

   15.     Clause 9 of Schedule 3 amended  

   PART 6--AMENDMENT OF SALE OF LAND ACT 1962

   16.     New sections 10G and 10H inserted  
   16A.    New section 58 inserted  

   PART 7--AMENDMENT OF TREASURY CORPORATION OF VICTORIA ACT 1992

   17.     Statute law revision amendment  

   PART 8--AMENDMENT OF VALUATION OF LAND ACT 1960

   18.     Definitions  

   PART 9--AMENDMENT OF WINDFALL GAINS TAX ACT 2021

   19.     Definitions  
   20.     Who is liable for windfall gains tax?  
   21.     Exemptions in relation to rezoning errors  
   22.     Exemptions in relation to rezonings underway before 15 May 2021  
   23.     Waiver for charitable land  
   24.     Secretary to provide rezoning information to Commissioner  

   PART 10--AMENDMENT OF LAND TAX ACT 2005

           Division 1--Vacant residential land tax across Victoria

   25.     Definitions  
   26.     Imposition of vacant residential land tax  
   27.     Repeal of section 34D  
   27A.    What is the rate of land tax?  
   27B.    Holiday home exemption  
   28.     Exemption for land occupied for purposes of attending place of business or employment  
   28A.    New sections 88EA to 88EC inserted  
   29.     Repeal of Schedule 2A  
   30.     New clause 21 of Schedule 3 inserted  

           Division 2--Vacant residential land tax--unimproved land

   31.     Definitions  
   32.     What is residential land?  
   33.     New section 34BA inserted  
   34.     When is residential land vacant?  
   34A.    What is the rate of land tax?  
   35.     New sections 88F and 88G inserted  
   36.     New Schedules 2B and 2C inserted  

           Division 3--Single COVID-19 debt temporary land tax surcharge where land assessed on a single holding basis

   37.     Certain taxable land assessed separately  
   38.     General land tax surcharge for trusts  
   39.     Land tax for discretionary trust with nominated beneficiary  
   40.     Land tax surcharge for absentee trusts  
   41.     Land tax for absentee discretionary trust with nominated beneficiary  
   42.     New clause 1.7 of Schedule 1 inserted  
   43.     New clause 3.7 of Schedule 1 inserted  
   44.     New clause 4.7 of Schedule 1 inserted  
   45.     New clause 5.7 of Schedule 1 inserted  
   46.     New Part 6 of Schedule 1 inserted  

           Division 4--Miscellaneous

   47.     Absentee exemption requirements  
   48.     BTR special land tax—owner of land  

   PART 11--REPEAL OF THIS ACT

   49.     Repeal of this Act  
           ENDNOTES