Further to the recently released Queensland Budget 2018-19, on 12 June 2018, the Revenue Legislation Amendment Bill 2018 (Qld) was introduced into parliament to give effect to announcements made during the budget.

Specifically, the Bill proposes to amend the:

  • Duties Act 2001 by increasing the rate of additional foreign acquirer duty from 3 per cent to 7 per cent from 1 July 2018 in respect of transfer duty, landholder duty and corporate trustee duty.
  • Land Tax Act 2010 by prescribing new rates of land tax for landholdings of individuals, companies, trustees and absentee owners in a variety of brackets (based on taxable value).
  • Land Tax Regulation 2010 by prescribing primary production activities under new section 2A for the purpose of the primary production exemption under section 53 of the Land Tax Act 2010, including relevant activities, such as agriculture, dairy farming or pasturage.
  • Payroll Tax Act 1971 to ensure that the 50% payroll tax rebate for wages paid or payable to apprentices and trainees will be extended for a further 12 months ending on 30 June 2019.
  • Taxation Administration Act 2001 to prescribe the days on which service is effected by way of new information systems, including to prescribe that if notice is given by email or text message that the date the email is sent or the text message is sent is the date notice if taken to be given to the taxpayer.