South Australian Bill to reduce red tape and simplify regulation

The Statutes Amendment and Repeal (Simplify) Bill 2016 (SA) was introduced into the South Australian parliament. It is part of the State Government's program to reduce red tape and simplify regulation for businesses and consumers.

Tasmanian legislative amendments

Duties Amendment (Landholder and Corporate Reconstruction and Consolidation) Bill 2016 has passed the Parliament and awaits Royal Assent. The Bill proposes to amend the Duties Act 2001 (Tas), in relation to the duty liability for indirect transfers of land, by changing the assessment of liability from a land-rich model to a landholder model. This brings Tasmania in line with similar provisions applied by other states.

Taxation and Related Legislation (Miscellaneous Amendments) Bill 2016 (Tas) has received royal assent. Amongst other things, the Act amends the following:

  • Duties Act 2001 (Tas) includes the vesting of dutiable property transactions to be treated as transfers
  • Land Tax Act 2000 (Tas) ensures the special rate of land tax for land owned by a club or body of persons is also able to obtain the benefit of the tax-free threshold available to other land tax payers
  • Payroll Tax Act 2008 (Tas) ensures harmonisation with Victoria and New South Wales (NSW) in relation to the payroll tax treatment of owner-driver contracts and
  • anti-avoidance provisions related to excluded contracts. Also, in line with NSW amendments, removing the relevant contractor exclusions for insurance and door-to-door sales, and
  • Taxation Administration Act 1997 (Tas) extends the standard reassessment timeframe from three to five years and extends a taxpayer's entitlement to a refund from three to five years to better align with Victorian and NSW reassessment and refund timeframes.

Victorian Land and Payroll tax amendments

The State Taxation Acts Further Amendment Bill 2016 (Vic) has received Royal Assent. Amongst other things, the Bill makes the following amendments:

  • amends the Land Tax Act 2005 (Vic) to align the date for the determination of the taxable value of non-rateable non-leviable land with the date that applies to other land, and corrects one of the surcharge rates of land tax for absentee trusts, and
  • amends the Payroll Tax Act 2007 (Vic) to update the way the exempt rate used in the calculation of the exempt component of motor vehicle allowances is determined.

Northern Territory stamp duty amendment Bill

The Stamp Duty Amendment Bill 2016 was introduced into the Northern Territory Parliament and amends the Stamp Duty Act (NT) to:

  • provide increased assistance to first home buyers of established homes via a stamp duty concession
  • implement transitional provisions to provide for the cessation of the previous AUD10,000 first home owner discount (which is limited to established homes valued at over AUD650 000 from 1 September 2016) after 31 December 2016.