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


REVENUE LAWS AMENDMENT BILL (NO. 2) 1995

        Queensland




   REVENUE LAWS
AMENDMENT BILL (No. 2)
       1995

 


 

Queensland REVENUE LAWS AMENDMENT BILL (No. 2) 1995 TABLE OF PROVISIONS Section Page PART 1--PRELIMINARY 1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 PART 2--AMENDMENT OF STAMP ACT 1894 3 Act amended in pt 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 4 Insertion of new s 31BA . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 31BA Options--marketable securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 5 Amendment of s 49 (Meaning of "conveyance or transfer" and provisions affecting the same) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 6 Insertion of new s 54AD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 54AD Statutory business licences . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 7 Amendment of s 55A (Duty relating to principal place of residence and first principal place of residence) . . . . . . . . . . . . . . . . . . . . . 8 8 Amendment of s 57A (Motor vehicles) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 9 Insertion of new s 64D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 64D Licence to occupy premises . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 10 Amendment of sch 1 (Stamp duties on instruments) . . . . . . . . . . . . . . . . . . 12 PART 3--AMENDMENT OF PAY-ROLL TAX ACT 1971 11 Act amended in pt 3 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 12 Amendment of s 6 (Wages liable to pay-roll tax) . . . . . . . . . . . . . . . . . . . . 13 13 Insertion of new s 11 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 11 Exemption from pay-roll tax--certain CWA wages . . . . . . . . . . . . . 13

 


 

 

1995 A BILL FOR An Act to amend the Stamp Act 1894 and the Pay-roll Tax Act 1971

 


 

s1 4 s4 Revenue Laws Amendment (No. 2) The Parliament of Queensland enacts-- 1 PART 1--PRELIMINARY 2 title 3 Short Clause 1. This Act may be cited as the Revenue Laws Amendment Act (No. 2) 4 1995. 5 6 Commencement Clause 2.(1) Section 4 is taken to have commenced on 7 April 1995. 7 (2) Section 11 is taken to have commenced on 1 July 1995. 8 PART 2--AMENDMENT OF STAMP ACT 1894 9 amended in pt 2 10 Act Clause 3. This part amends the Stamp Act 1894. 11 of new s 31BA 12 Insertion Clause 4. After section 31B-- 13 insert-- 14 securities 15 `Options--marketable `31BA.(1) This section applies to a sale or purchase of a marketable 16 security under the exercise of an option. 17 `(2) For section 31B(2), the unencumbered value of the marketable 18 security is taken to be the greater of-- 19 (a) the premium paid on the option; or 20

 


 

s5 5 s5 Revenue Laws Amendment (No. 2) (b) the consideration for the sale or purchase of the marketable 1 security. 2 `(3) Sections 31C to 31F apply to the sale or purchase of the marketable 3 security as if an instruction to a broker to lodge a notice to exercise an 4 option, or the receipt by a broker of the notice, were an order for purchase 5 or sale. 6 '(4) In this section-- 7 "option" means an option over issued marketable securities listed on the 8 Australian Stock Exchange Limited, but does not include an option or 9 a class of options excluded from the operation of sections 31C to 31F 10 under a regulation.'. 11 of s 49 (Meaning of "conveyance or transfer" and 12 Amendment provisions affecting the same) 13 Clause 5.(1) After section 49(3)-- 14 insert-- 15 `(3A) However, only the true consideration mentioned in subsection (3) 16 need be specified in the instrument of conveyance or transfer if-- 17 (a) the conveyance or transfer of property includes real property 18 situated in Queensland; and 19 (b) the consideration for all of the property (including livestock and 20 movable chattels) included in the transaction to which the 21 conveyance or transfer relates equals, or is more than, the full 22 unencumbered value of all the property.'. 23 (2) Section 49(4), `by declaration made under the Oaths Act 1867,'-- 24 omit. 25 (3) Section 49-- 26 insert-- 27 `(5) The commissioner may refuse to stamp a conveyance or transfer of 28 real property if a combined form, completed in all respects, has not been 29 produced. 30 `(6) In this section-- 31

 


 

s6 6 s6 Revenue Laws Amendment (No. 2) "combined form" means an approved form providing information 1 required under the following Acts-- 2 (a) this Act; 3 (b) the Land Tax Act 1915; 4 (c) the Local Government Act 1993; 5 (d) the Foreign Ownership of Land Register Act 1988; 6 (e) the Valuation of Land Act 1944.'. 7 of new s 54AD 8 Insertion Clause 6. After section 54AC-- 9 insert-- 10 business licences 11 `Statutory `54AD.(1) This section applies if a person (the "licence holder") 12 acquires or agrees to acquire a statutory business licence that is property 13 situated in Queensland. 14 `(2) An acquisition of, or agreement to acquire, a statutory business 15 licence is taken to have happened on the grant, extension or renewal of the 16 licence only if the former holder of the licence agreed to surrender or 17 relinquish the licence, or agreed not to apply for an extension or renewal of 18 the licence, so that the licence, an extension or renewal of the licence, or 19 another licence for the same type of activity could be issued or given to the 20 licence holder. 21 `(3) This section does not apply to the acquisition of, or agreement to 22 acquire, a statutory business licence effected or evidenced by an instrument 23 chargeable with duty under schedule 1, CONVEYANCE OR 24 TRANSFER, paragraph (4) on the conveyance or transfer of the licence. 25 `(4) For this section, a statutory business licence is property situated in 26 Queensland if the licence relates to, or is held in connection with-- 27 (a) a business taken to exist in Queensland because of 28 section 54A(10); or 29 (b) Queensland or a part of Queensland. 30 `(5) The licence holder must, within 1 month after acquiring, or agreeing 31

 


 

s6 7 s6 Revenue Laws Amendment (No. 2) to acquire, the statutory business licence (whichever happens first), make a 1 statement to the commissioner in the approved form. 2 Maximum penalty--100 penalty units plus an amount equal to double the 3 amount of the duty that would have been chargeable on the statement if the 4 statement had been made under this section. 5 `(6) If proceedings for an offence are not taken against a licence holder, 6 the commissioner may impose a penalty of-- 7 (a) 3% of the duty chargeable on the statement for the first month, or 8 part of the month, after the end of the period during which the 9 statement was required to be made; and 10 (b) 2% for each subsequent month or part of the month, until the 11 statement is made. 12 `(7) However, if the penalty calculated under subsection (6) would be 13 less than $10, the penalty is $10. 14 `(8) After considering the circumstances, the commissioner may waive 15 or reduce the penalty. 16 `(9) The statement mentioned in subsection (5) is taken to be an 17 instrument under this Act executed by the licence holder and is chargeable 18 with duty as if it were a conveyance or transfer of the statutory business 19 licence to which the statement relates. 20 `(10) However, subsection (11) applies if a statutory business licence 21 mentioned in subsection (4) also relates to, or is also held in connection 22 with-- 23 (a) for a licence mentioned in subsection (4)(a)--a business carried 24 on in, or from, another State or Territory; or 25 (b) for a licence mentioned in subsection (4)(b)--another State or 26 Territory. 27 `(11) If subsection (10) applies, duty chargeable on the statement is to be 28 calculated as if the consideration for, or the full unencumbered value of, the 29 licence were an amount that bears to the full amount of the consideration 30 for, or full unencumbered value of, the licence the same proportion as the 31 part of the full unencumbered value of the licence derived from-- 32 (a) the business undertaking of the licensee conducted in Queensland; 33 or 34

 


 

s7 8 s7 Revenue Laws Amendment (No. 2) (b) the business undertaking of the licensee conducted from 1 Queensland; or 2 (c) the relationship of the licence to Queensland; 3 whichever is the greatest, bears to the full unencumbered value of the 4 licence. 5 `(12) In this section-- 6 "statutory business licence" means a licence, permit or authority issued or 7 given under a law of the Commonwealth or Queensland that is 8 required by the law to be held by a person carrying out an activity for 9 gain or reward.'. 10 of s 55A (Duty relating to principal place of residence 11 Amendment and first principal place of residence) 12 Clause 7.(1) Section 55A(1), definition "relevant rebate"-- 13 omit, insert-- 14 ` "relevant rebate" means-- 15 (a) for property consisting of a prescribed principal place of 16 residence-- 17 (i) if the property is valued at $80 000 or less--$800; 18 (ii) if the property is valued at more than $80 000 but not more 19 than $150 000--$500; 20 (iii) if the property is valued at more than $150 000 but not more 21 than $155 000--$300; 22 (iv) if the property is valued at more than $155 000 but not more 23 than $160 000--$200; and 24 (b) for property including a prescribed principal place of 25 residence--the rebate that would have been available if the 26 property consisted of the residence less an amount that bears to 27 the rebate the same proportion as the value of the property not 28 attributable to the prescribed principal place of residence bears to 29 the value of the property.'. 30 (2) Section 55A(5), `without'-- 31

 


 

s8 9 s9 Revenue Laws Amendment (No. 2) omit, insert-- 1 `with'. 2 of s 57A (Motor vehicles) 3 Amendment Clause 8.(1) Section 57A(2A), `subsection (2)'-- 4 omit, insert-- 5 `subsections (2AA) and (2AB)'. 6 (2) Section 57A(2A), definition "list price"-- 7 omit, insert-- 8 ` "list price", of a motor vehicle, means-- 9 (a) if the applicant for registration of the motor vehicle is not exempt 10 from the payment of sales tax--the recommended retail price (or, 11 if there is more than 1 recommended retail price, the highest 12 recommended retail price) of the manufacturer, importer or 13 principal distributor at Brisbane of-- 14 (i) for a motor vehicle other than a motor truck--the motor 15 vehicle; or 16 (ii) for a motor truck--the relevant make and model of the 17 cab-chassis; or 18 (b) if the applicant for registration is exempt from the payment of 19 sales tax--the recommended retail price (or, if there is more than 20 1 recommended retail price, the highest recommended retail 21 price) of the manufacturer, importer or principal distributor at 22 Brisbane (less sales tax) of-- 23 (i) for a motor vehicle other than a motor truck--the motor 24 vehicle; or 25 (ii) for a motor truck--the relevant make and model of the 26 cab-chassis .'. 27 of new s 64D 28 Insertion Clause 9. After section 64C-- 29

 


 

s9 10 s9 Revenue Laws Amendment (No. 2) insert-- 1 to occupy premises 2 `Licence `64D.(1) This section applies if, under a contract or agreement that is in 3 writing or for which there is a written offer-- 4 (a) a person (the "occupier") acquires or agrees to acquire a right to 5 occupy all or part of a building in Queensland (the "premises"); 6 and 7 (b) the occupier uses or will use the premises as a place of business; 8 and 9 (c) the occupier does not obtain exclusive possession of the 10 premises; and 11 (d) it would be reasonable to conclude that the occupier's enjoyment 12 of the premises as a place of business during the term of the 13 contract or agreement is not, or will not be, adversely affected by 14 the absence of the right to exclusive possession having regard 15 to-- 16 (i) the periods during which the occupier's occupation of the 17 premises is not exclusive; and 18 (ii) the times when the occupier's right to have access to, or to 19 occupy, the premises may be interrupted or denied. 20 `(2) This section does not apply to a contract or agreement for the right to 21 occupy premises in any of the following circumstances-- 22 (a) the term of the right of occupation is less than 1 month and it 23 would be reasonable to conclude that there is no arrangement by 24 which the term may be extended or renewed so that the total term 25 will be longer than 1 month; 26 (b) the term of the right of occupation is at least 1 month but less than 27 1 year and the consideration paid or payable by the occupier for 28 the right of occupation (other than reasonable outgoings for the 29 premises) adjusted for a term of 1 year is not more than $10 000; 30 (c) the term of the right of occupation is for at least 1 year and the 31 annual consideration paid or payable by the occupier for the right 32 of occupation (other than reasonable outgoings for the premises) 33 is not more than $10 000. 34

 


 

s9 11 s9 Revenue Laws Amendment (No. 2) `(3) The person (the "grantor") who has given, or agreed to give, the 1 occupier the right to occupy the premises must, within 1 month after the 2 occupier acquires, or agrees to acquire, the right of occupation for a 3 premises (whichever happens first), make a statement to the commissioner 4 in the approved form. 5 Maximum penalty--100 penalty units plus an amount equal to double the 6 amount of the duty that would have been chargeable on the statement if the 7 statement had been made under this section. 8 `(4) If proceedings for an offence are not taken against a grantor, the 9 commissioner may impose a penalty of-- 10 (a) 3% of the duty chargeable on the statement for the first month, or 11 part of the month, after the end of the period during which the 12 statement was required to be made; and 13 (b) 2% for each subsequent month or part of the month, until the 14 statement is made. 15 `(5) However, if the penalty calculated under subsection (4) would be 16 less than $10, the penalty is $10. 17 `(6) After considering the circumstances, the commissioner may waive 18 or reduce the penalty. 19 `(7) A proceeding against a grantor under subsection (3) may not be 20 taken, and the commissioner may not impose a penalty under 21 subsection (4), for the grantor not having made a statement before the 22 consideration for the right of occupation was ascertainable if-- 23 (a) the amount of the annual consideration payable could not be 24 ascertained for the contract or agreement; and 25 (b) within 1 month of acquiring or agreeing to acquire the right of 26 occupation, the grantor reasonably estimated that the annual 27 consideration would be not more than $10 000; and 28 (c) the actual annual consideration paid did not exceed the grantor's 29 estimate by more than 15%. 30 `(8) The statement mentioned in subsection (3) is taken to be an 31 instrument under this Act executed by the grantor and is chargeable with 32 duty as if-- 33 (a) the statement were an instrument of lease of the premises; and 34

 


 

s 10 12 s 11 Revenue Laws Amendment (No. 2) (b) the consideration paid or payable under the contract or agreement 1 (other than reasonable outgoings for the premises) were rental 2 paid or payable by the occupier under the lease; and 3 (c) the term and any conditional term of the right of occupation were 4 the term and conditional term of the lease.'. 5 of sch 1 (Stamp duties on instruments) 6 Amendment Clause 10. Schedule 1, APPLICATION FOR REGISTRATION OR 7 APPLICATION FOR TRANSFER OF REGISTRATION OF A 8 MOTOR VEHICLE, Exemptions-- 9 insert-- 10 `7.(1) Any application for registration of a heavy motor vehicle that was, 11 immediately before 1 July 1995, registered under the Commonwealth Act 12 if-- 13 (a) the registration is the first registration of the vehicle in 14 Queensland; and 15 (b) the person in whose name the vehicle is registered in Queensland 16 is the person in whose name the vehicle was registered under the 17 Commonwealth Act. 18 `(2) In subsection (1)-- 19 "Commonwealth Act" means the Interstate Road Transport Act 1985 20 (Cwlth). 21 "heavy motor vehicle" means a motor vehicle with a gross vehicle mass 22 of 4.5 tonnes or more.'. 23 ART 3--AMENDMENT OF PAY-ROLL TAX ACT 24 P 1971 25 amended in pt 3 26 Act Clause 11. This part amends the Pay-roll Tax Act 1971. 27

 


 

s 12 13 s 13 Revenue Laws Amendment (No. 2) of s 6 (Wages liable to pay-roll tax) 1 Amendment Clause 12.(1) Section 6(1)(a)-- 2 omit, insert-- 3 `(a) that are paid or payable in Queensland, other than wages so paid 4 or payable to a person for services performed or rendered-- 5 (i) entirely in another State; or 6 (ii) entirely outside Australia for more than 6 months after 7 wages were first paid to the person for the services; or.'. 8 (2) Section 6-- 9 insert-- 10 `(1A) Subsection (1)(a) applies to wages paid or payable after the 11 commencement of this subsection for services performed or rendered by a 12 person entirely outside Australia, even though the first payment for the 13 services was made before the commencement. 14 `(1B) Subsection (1A) is a law to which the Acts Interpretation Act 1954, 15 section 20A applies. 16 `(1C) Subsections (1A), (1B) and this subsection expire on the day they 17 commence.'. 18 of new s 11 19 Insertion Clause 13. After section 10-- 20 insert-- 21 from pay-roll tax--certain CWA wages 22 `Exemption `11.(1) CWA is not required to lodge a return. 23 '(2) Sections 9, 11B and 11C apply to CWA as if-- 24 (a) in section 9(1), the words in the definition "prescribed amount" 25 were `means all taxable wages paid or payable by CWA in the 26 return period'; and 27 (b) the words in section 11B(1)(b) were `all taxable wages paid or 28 payable by CWA during the financial year'; and 29

 


 

s 13 14 s 13 Revenue Laws Amendment (No. 2) (c) in section 11C(1), in the definition "total amount of pay-roll tax", 1 the words in paragraph (b) were `all taxable wages paid or 2 payable by CWA during the prescribed period'. 3 `(3) However, CWA is required to lodge a return and subsection (2) 4 does not apply if-- 5 (a) wages are paid or payable by CWA in carrying on a business 6 activity predominantly on a commercial basis ("CWA's 7 commercial wages"); or 8 (b) CWA is a member of a group. 9 `(4) If only subsection (3)(a) applies, tax payable is the amount bearing 10 the same proportion to tax payable on CWA's taxable wages as CWA's 11 commercial wages bear to taxable wages before deducting the prescribed 12 amount. 13 `(5) If subsection (3)(b) applies, the annual amount of tax payable by the 14 members of the group must be reduced by an amount bearing the same 15 proportion to the tax payable as CWA's taxable wages (other than CWA's 16 commercial wages) bear to the taxable wages paid or payable by the 17 members of the group. 18 `(6) For this section, a business activity by CWA is taken to be 19 conducted on a commercial basis if it is conducted in a similar way to 20 similar business activities conducted by anyone else on a commercial basis. 21 `(7) For this section, a business activity does not include-- 22 (a) the conduct of a student hostel; and 23 (b) the conduct of a hostel subsidised under the Aged or Disabled 24 Persons Care Act 1954 (Cwlth); and 25 (c) an activity of a type prescribed under a regulation. 26 `(8) In this section-- 27 "CWA" means Queensland Country Women's Association.'. 28 29 State of Queensland 1995

 


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