Victorian Numbered Acts

STATE TAXATION ACTS AMENDMENT ACT 2019 (NO. 17 OF 2019)

TABLE OF PROVISIONS

   PART 1--PRELIMINARY

   1.      Purposes  
   2.      Commencement  

   PART 2--AMENDMENT OF DUTIES ACT 2000

           Division 1--Public unit trust schemes

   3.      Definitions—public unit trust scheme  
   4.      Conversion of a private unit trust scheme to a public unit trust scheme  

           Division 2--Fixtures

   5.      Definitions—fixtures  
   6.      What is dutiable property?  
   7.      Aggregation of certain dutiable transactions  
   8.      New sections 57FA and 57FB inserted  

           Division 3--Economic entitlements in relation to land and landholders

   9.      Definitions—economic entitlement  
   10.     New Part 4B inserted in Chapter 2  
   11.     What are land holdings?  
   12.     New section 72A inserted  
   13.     Acquisition of economic entitlement  

           Division 4--Foreign purchasers

   14.     Foreign purchasers—duty in respect of change of use of land  
   15.     Rate for additional duty chargeable for foreign purchasers—residential property  

           Division 5--Motor vehicle duty

   16.     Definitions—motor vehicle duty  
   17.     What is the rate of duty?  
   18.     Licensed motor car traders—trading stock, demonstrator vehicles and driver education  
   19.     Primary producer vehicles  
   20.     Duty on statement of change of use  

           Division 6--Corporate reconstructions

   21.     Amendment of headings—corporate reconstructions  
   22.     What is a corporate group?  
   23.     What is an eligible transaction—corporate reconstructions  
   24.     Concession and exemptions for certain transactions arising out of corporate reconstruction  
   25.     Sections 250C and 250D repealed  
   26.     What is an eligible transaction—corporate consolidations  
   27.     Concession for certain transactions arising out of corporate consolidation  
   28.     Sections 250DE and 250DF repealed  
   29.     Section 250DI substituted  
   30.     Sections 250DJ and 250DK repealed  
   31.     Division 2 of Part 2 of Chapter 11 repealed  

           --Division 2 of Part 2 of Chapter 11 of the Duties Act 2000 is repealed.

           Division 7--Transfers of commercial and industrial land in regional Victoria

   32.     New Division 5A inserted in Part 5 of Chapter 2  
   33.     Duty concession—anomalous duty outcome  

           Division 8--Transitional arrangements

   34.     New clauses 45 to 55 inserted in Schedule 2  

   PART 3--AMENDMENT OF LAND TAX ACT 2005

           Division 1--Principal place of residence exemption

   35.     Principal place of residence exemption  

           Division 2--Absentee owner surcharge

   36.     What is the rate of land tax?  
   37.     Land tax surcharge for absentee trusts  
   38.     Land tax for absentee fixed trust if beneficial interests notified to Commissioner  
   39.     Land tax for absentee unit trust scheme if unitholdings notified to Commissioner  
   40.     Land tax for beneficiary/trustees  
   41.     Land tax for PPR land if nominated PPR beneficiary  
   42.     Land tax surcharge for related absentee corporations  
   43.     Rate of land tax on land held by absentee owners for 2017, 2018 and 2019  
   44.     New clause 4.3 of Schedule 1 inserted  
   45.     Rate of land tax on land held by owner subject to an absentee trust for 2017, 2018 and 2019  
   46.     New clause 5.3 of Schedule 1 inserted  

   PART 4--AMENDMENT OF PAYROLL TAX ACT 2007

           Division 1--Regional employers

   47.     Meaning of regional employer  
   48.     Repeal of section 12A  

           Division 2--Parental leave

   49.     Definitions—domestic partner and spouse  
   50.     Division 4 of Part 4 substituted  
   51.     Groups arising from tracing of interests in corporations  
   52.     New Division 2A inserted in Part 3 of Schedule 2  
   53.     New clause 20 inserted in Schedule 3  

           Division 3--Amendment of thresholds and tax rates

   54.     Thresholds  
   55.     Tax rates for regional employers  

   PART 5--AMENDMENT OF VALUATION OF LAND ACT 1960

   56.     Definitions  
   57.     Supplementary valuation  
   58.     Determination of objection  
   59.     Grounds of review or appeal  

   PART 6--REPEAL OF THIS ACT

   60.     Repeal of this Act  
           ENDNOTES