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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia
Revenue Laws Amendment Bill 2014
Contents
Part 1 -- Preliminary
1. Short title 2
2. Commencement 2
Part 2 -- Duties Act 2008 amended
3. Act amended 3
4. Section 142 amended 3
5. Schedule 2 amended 4
Part 3 -- Land Tax Act 2002 amended
6. Act amended 5
7. Section 5 amended 5
Part 4 -- Pay-roll Tax Assessment
Act 2002 amended
8. Act amended 6
9. Section 8 replaced 6
8. The tax threshold 6
68--1 page i
Western Australia
LEGISLATIVE ASSEMBLY
Revenue Laws Amendment Bill 2014
A Bill for
An Act to amend the following Acts --
• the Duties Act 2008;
• the Land Tax Act 2002;
• the Pay-roll Tax Assessment Act 2002.
The Parliament of Western Australia enacts as follows:
page 1
Revenue Laws Amendment Bill 2014
Part 1 Preliminary
s. 1
1 Part 1 -- Preliminary
2 1. Short title
3 This is the Revenue Laws Amendment Act 2014.
4 2. Commencement
5 This Act comes into operation as follows --
6 (a) Part 1 -- on the day on which this Act receives the
7 Royal Assent (assent day);
8 (b) the rest of the Act -- if assent day is on or before
9 1 July 2014 -- on 1 July 2014;
10 (c) if assent day is after 1 July 2014 --
11 (i) Part 2 comes into operation on the day after
12 assent day; and
13 (ii) Parts 3 and 4 are deemed to have come into
14 operation on 1 July 2014.
page 2
Revenue Laws Amendment Bill 2014
Duties Act 2008 amended Part 2
s. 3
1 Part 2 -- Duties Act 2008 amended
2 3. Act amended
3 This Part amends the Duties Act 2008.
4 4. Section 142 amended
5 In section 142(1) delete:
6
7 (b) the unencumbered value of the land, or the land and
8 home, the subject of the eligible transaction to which the
9 first home owner grant relates, does not exceed --
10 (i) if there is no home on the land -- $400 000; or
11 (ii) otherwise -- $600 000,
12 and includes a transaction where, due to the operation of
13 section 42(2) or (4), duty is not chargeable on the
14 transfer of dutiable property the subject of the
15 transaction.
16
17 and insert:
18
19 (b) the unencumbered value of the land, or the land
20 and home, the subject of the eligible transaction
21 to which the first home owner grant relates,
22 does not exceed --
23 (i) if there is no home on the land --
24 $400 000; or
25 (ii) otherwise -- $530 000,
26 and includes a transaction where, due to the operation
27 of section 42(2) or (4), duty is not chargeable on the
28 transfer of dutiable property the subject of the
29 transaction.
30
page 3
Revenue Laws Amendment Bill 2014
Part 2 Duties Act 2008 amended
s. 5
1 5. Schedule 2 amended
2 In Schedule 2 Division 2 in the item relating to s. 143 delete the
3 row commencing "If the property includes a home" and insert:
4
If the property $0 -- $430 000 Nil
includes a home $430 001 -- $530 000 $19.19 per $100.00 or
part of $100.00 above
$430 000
5
page 4
Revenue Laws Amendment Bill 2014
Land Tax Act 2002 amended Part 3
s. 6
1 Part 3 -- Land Tax Act 2002 amended
2 6. Act amended
3 This Part amends the Land Tax Act 2002.
4 7. Section 5 amended
5 (1) In section 5 delete the heading to Table 9 and insert:
6
7 Table 9: Land tax rates for 2013/14
8
9 (2) In section 5 after Table 9 insert:
10
11 Table 10: Land tax rates for 2014/15
12 and subsequent financial years
Taxable value of the land
Rate of land tax
Exceeding Not exceeding
($) ($)
0 300 000 Nil
300 000 1 000 000 0.11 cent for each $1 in excess
of $300 000
1 000 000 2 200 000 $770 + 0.58 cent for each $1 in
excess of $1 000 000
2 200 000 5 500 000 $7 730 + 1.51 cents for each $1
in excess of $2 200 000
5 500 000 11 000 000 $57 560 + 1.80 cents for each $1
in excess of $5 500 000
11 000 000 $156 560 + 2.67 cents for each
$1 in excess of $11 000 000
13
page 5
Revenue Laws Amendment Bill 2014
Part 4 Pay-roll Tax Assessment Act 2002 amended
s. 8
1 Part 4 -- Pay-roll Tax Assessment Act 2002 amended
2 8. Act amended
3 This Part amends the Pay-roll Tax Assessment Act 2002.
4 9. Section 8 replaced
5 Delete section 8 and insert:
6
7 8. The tax threshold
8 (1) The annual threshold amount for --
9 (a) the financial years beginning on 1 July 2014
10 and 1 July 2015 is $800 000; and
11 (b) a financial year beginning on or after
12 1 July 2016 is $850 000.
13 (2) The monthly threshold amount for --
14 (a) the financial years beginning on 1 July 2014
15 and 1 July 2015 is $66 667; and
16 (b) a financial year beginning on or after
17 1 July 2016 is $70 833.
18
19
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