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This is a Bill, not an Act. For current law, see the Acts databases.
2013
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Contents
Page
2013
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL
TERRITORY
(As presented)
(Treasurer)
Revenue Legislation (Tax Reform) Amendment Bill 2013
A Bill for
An Act to amend the
and the
The Legislative Assembly for the Australian Capital Territory enacts as
follows:
This Act is the Revenue Legislation (Tax Reform) Amendment Act 2013.
This Act commences on the day after its notification day.
Note The naming and commencement provisions automatically commence on
the notification day (see
, s 75 (1)).
This Act amends the legislation mentioned in schedule 1.
Schedule 1 Legislation amended
(see s 3)
omit
[1.2] Section 9 (4), definition of commercial land
omit
omit
omit
[1.5] Dictionary, definition of qualifying parcel of land
omit
omit
that has an average unimproved value of the threshold amount or less
omit
that has an average unimproved value of more than the threshold amount
substitute
[1.9] Section 14 (3), definition of TA
omit
substitute
(1) This section applies to a parcel of land that is a qualifying parcel of land.
[1.11] Section 34 (3), formula
substitute
[1.12] Section 34 (4), definition of TA or threshold amount
omit
insert
(f) if the owner, or each owner, is not a pensioner—that—
(i) at least 1 owner is 65 years old or older; and
(ii) the total income of the owner, or all the owners, is not more than an amount determined by the Minister (the income threshold amount); and
(iii) the unimproved value of the parcel is more than a value determined by the Minister (the determined value); and
(iv) the owner’s or owners’ equity in the parcel is not less than a percentage determined by the Minister (the determined percentage).
Note Power to make a statutory instrument includes power to make
different provision in relation to different matters or different classes of
matters (see
, s 48).
[1.14] New section 46 (9) and (10)
insert
(9) A determination under subsection (2) (f), or subsection (10), definition of income, is a disallowable instrument.
Note A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act
.
(10) In this section:
income, of an owner, means the income of the owner worked out in the way determined by the Minister.
insert
(g) if the determination relates to the person or people mentioned in section 46 (2) (f)—
(i) the total income of the owner, or all the owners, is more than the income threshold amount; or
(ii) the unimproved value of the parcel is less than or equal to the determined value; or
(iii) the owner’s or owners’ equity in the parcel is less than the determined percentage.
[1.16] Section 52 (3), new definitions
insert
determined percentage—see section 46 (2) (f) (iv).
determined value—see section 46 (2) (f) (iii).
income, of an owner—see section 46 (10).
income threshold amount—see section 46 (2) (f) (ii).
[1.17] Schedule 1, section 1.1 (2)
omit
that has an average unimproved value of more than the threshold amount
[1.18] Schedule 1, section 1.1 (2), formula
substitute
[1.19] Schedule 1, section 1.1 (3), definition of TA (or threshold amount)
omit
[1.20] Schedule 1, section 3.1 (3), formula
substitute
[1.21] Schedule 1, section 3.1 (4), definition of TA (or threshold amount)
omit
Endnotes
1 Presentation speech
Presentation speech made in the Legislative Assembly on 11 April 2013.
2 Notification
Notified under the
on 2013.
3 Republications of amended laws
For the latest republication of amended laws, see www.legislation.act.gov.au
.
© Australian Capital Territory 2013
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