Queensland Bills

[Index] [Search] [Download] [Related Items] [Help]


This is a Bill, not an Act. For current law, see the Acts databases.


REVENUE LAWS AMENDMENT BILL 1995

      Queensland




  REVENUE LAWS
AMENDMENT BILL 1995

 


 

Queensland REVENUE LAWS AMENDMENT BILL 1995 TABLE OF PROVISIONS Section Page PART 1--PRELIMINARY 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 PART 2--LAND TAX ACT 1915 3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Amendment of s 13(1) (Land exempted from tax) . . . . . . . . . . . . . . . . . . . . 4 5 Amendment of s 16(1) (Taxpayer to furnish returns) . . . . . . . . . . . . . . . . . . 4 PART 3--PAY-ROLL TAX ACT 1971 6 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 7 Amendment of s 9 (Deduction from taxable wages) . . . . . . . . . . . . . . . . . . 5 8 Amendment of s 11A (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 9 Amendment of s 12 (Registration) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 10 Amendment of s 16J (Interpretation) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 PART 4--STAMP ACT 1894 11 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 12 Amendment of s 31D (Returns to be lodged and duty paid) . . . . . . . . . . . . 7 13 Amendment of s 35B (Statements to be lodged by required persons with the Commissioner) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 14 Amendment of sch (Stamp duties on instruments) . . . . . . . . . . . . . . . . . . . . 8

 


 

 

1995 A BILL FOR An Act to amend certain Acts administered by the Treasurer

 


 

s1 4 s5 Revenue Laws Amendment The Parliament of Queensland enacts-- 1 ART 1--PRELIMINARY 2 P title 3 Short Clause 1. This Act may be cited as the Revenue Laws Amendment Act 1995. 4 5 Commencement Clause 2.(1) This Act (other than part 2) commences on 1 July 1995. 6 (2) Part 2 commences on 29 June 1995. 7 PART 2--LAND TAX ACT 1915 8 amended 9 Act Clause 3. This part amends the Land Tax Act 1915. 10 of s 13(1) (Land exempted from tax) 11 Amendment Clause 4. Section 13(1)(x) and (xii), `$40 000'-- 12 omit, insert-- 13 `$60 000'. 14 of s 16(1) (Taxpayer to furnish returns) 15 Amendment Clause 5.(1) Section 16(1)(a) `or a company'-- 16 omit. 17 (2) Section 16(1)-- 18

 


 

s6 5 s8 Revenue Laws Amendment insert-- 1 `(ab) for an owner who is a company--$60 000 or upwards;'. 2 (3) Section 16(1)(aa), `$40 000'-- 3 omit, insert-- 4 `$60 000'. 5 (4) Section 16(1)(b), `(a) or (aa) of this subsection'-- 6 omit, insert-- 7 `(a), (aa) or (ab)'. 8 ART 3--PAY-ROLL TAX ACT 1971 9 P amended 10 Act Clause 6. This part amends the Pay-roll Tax Act 1971. 11 of s 9 (Deduction from taxable wages) 12 Amendment Clause 7.(1) Section 9(1), definition "prescribed amount", formula, 13 definition "E"-- 14 omit, insert-- 15 ` "E" (maximum deduction per month) means-- 16 (a) in the period starting on 1 July 1995 and ending on 30 June 17 1996--60 417; and 18 (b) in a period starting on or after 1 July 1996--62 500.'. 19 (2) Section 9(4)-- 20 omit. 21 of s 11A (Interpretation) 22 Amendment Clause 8.(1) Section 11A(2)(a), `1992'-- 23

 


 

s9 6 s 10 Revenue Laws Amendment omit, insert-- 1 `1995'. 2 (2) Section 11A(2)(a), formula, `JA+KB'-- 3 omit, insert-- 4 `$725 000 A'. 5 (3) Section 11A(2)(b), `1993'-- 6 omit, insert-- 7 `1996'. 8 (4) Section 11A(2)(b), `700 000 C'-- 9 omit, insert-- 10 `750 000 A'. 11 (5) Section 11A(2)(c), definitions "A", "B", "C", "J" and "K"-- 12 omit, insert-- 13 ` "A" represents the number of days in the financial year for 14 which an employer pays or is liable to pay wages 15 (disregarding foreign wages).'. 16 of s 12 (Registration) 17 Amendment Clause 9. Section 12(1)(a)-- 18 omit, insert-- 19 `(a) pays or is liable to pay anywhere wages of more than-- 20 (i) if the month is a month after June 1995 and before July 21 1996--$13 942 per week; or 22 (ii) if the month is July 1996 or a subsequent month--$14 423 23 per week;'. 24 of s 16J (Interpretation) 25 Amendment Clause 10.(1) Section 16J(1)(a), `1992'-- 26 omit, insert-- 27

 


 

s 11 7 s 12 Revenue Laws Amendment `1995'. 1 (2) Section 16J(1)(a), formula, `JA+KB'-- 2 omit, insert-- 3 `$725 000 A'. 4 (3) Section 16J(1)(b), `1993'-- 5 omit, insert-- 6 `1996'. 7 (4) Section 16J(1)(b), `700 000 C'-- 8 omit, insert-- 9 `750 000 A'. 10 (5) Section 16J(1)(c), definitions "A", "B", "C", "J" and "K"-- 11 omit, insert-- 12 ` "A" represents the number of days in the financial year for 13 which 1 or more members of the group pays or pay, or is 14 or are liable to pay, taxable wages or interstate wages or 15 taxable wages and interstate wages.'. 16 ART 4--STAMP ACT 1894 17 P amended 18 Act Clause 11. This part amends the Stamp Act 1894. 19 of s 31D (Returns to be lodged and duty paid) 20 Amendment Clause 12. Section 31D(1)(b), `30'-- 21 omit, insert-- 22 `15'. 23

 


 

s 13 8 s 14 Revenue Laws Amendment of s 35B (Statements to be lodged by required persons 1 Amendment with the Commissioner) 2 Clause 13. Section 35B(1)(b), first and second provisos, paragraph (b), 3 `$10 000'-- 4 omit, insert-- 5 `$100 000'. 6 of sch (Stamp duties on instruments) 7 Amendment Clause 14. Schedule, CONVEYANCE OR TRANSFER, paragraph (3), up to 8 the first proviso-- 9 omit, insert-- 10 `(3) Of a stock, marketable security or right in respect of 11 shares mentioned in paragraph (2A)-- (a) on sale for a consideration in money or money's 12 worth of at least the full unencumbered value of the 13 stock, marketable security or right in respect of 14 shares-- (i) if the stock, marketable security or right is 15 listed on the Australian Stock Exchange--for 16 every $100 (or part of $100) of the 17 $0.30 consideration (ii) if the stock, marketable security or right is not 18 listed on the Australian Stock Exchange--for 19 every $100 (or part of $100) of the 20 $0.60 consideration 21 (b) for no consideration in money or money's worth, 22 for a consideration in money or money's worth of 23 less than the full unencumbered value of the stock, 24 marketable security or right in respect of shares, by 25 way of division or exchange, or under sections 701 26 and 702 of the Corporations Law--

 


 

s 14 9 s 14 Revenue Laws Amendment (i) if the stock, marketable security or right is 1 listed on the Australian Stock Exchange--for 2 every $100 (or part of $100) of the full 3 $0.30 unencumbered value (ii) if the stock, marketable security or right is not 4 listed on the Australian Stock Exchange--for 5 every $100 (or part of $100) of the full 6 $0.60'. unencumbered value 7 8 © State of Queensland 1995

 


[Index] [Search] [Download] [Related Items] [Help]