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This is a Bill, not an Act. For current law, see the Acts databases.
Western Australia Taxation Administration (Consequential Provisions) (Taxing) Bill 2001 CONTENTS Part 1 -- Preliminary 1. Short title 2 2. Commencement 2 3. Relationship with other Acts 2 4. Meaning of terms used in this Act 2 Part 2 -- Metropolitan Region Improvement Tax Act 1959 amended 5. The Act amended 3 6. Section 7 amended 3 7. Section 8 inserted 3 Part 3 -- Stamp Act 1921 amended 8. The Act amended 4 9. Section 112P amended 4 10 . Second Schedule amended 5 page i 88--1 Western Australia LEGISLATIVE ASSEMBLY Taxation Administration (Consequential Provisions) (Taxing) Bill 2001 A Bill for An Act to amend the Metropolitan Region Improvement Tax Act 1959 and the Stamp Act 1921 as a consequence of the enactment of the Taxation Administration Act 2001 and for related purposes. The Parliament of Western Australia enacts as follows: page 1 Taxation Administration (Consequential Provisions) (Taxing) Bill 2001 Part 1 Preliminary s. 1 Part 1 -- Preliminary 1. Short title This Act may be cited as the Taxation Administration (Consequential Provisions) (Taxing) Act 2001. 5 2. Commencement This Act comes into operation on the day on which the Taxation Administration Act 2001 comes into operation. 3. Relationship with other Acts The Taxation Administration Act 2001 is to be read with this 10 Act as if they formed a single Act. 4. Meaning of terms used in this Act The Glossary at the end of the Taxation Administration Act 2001 defines or affects the meaning of some of the words and expressions used in this Act and also affects the operation 15 of other provisions. page 2 Taxation Administration (Consequential Provisions) (Taxing) Bill 2001 Metropolitan Region Improvement Tax Act 1959 amended Part 2 s. 5 Part 2 -- Metropolitan Region Improvement Tax Act 1959 amended 5. The Act amended The amendments in this Part are to the Metropolitan Region 5 Improvement Tax Act 1959*. [* Reprinted as at 29 April 1980. For subsequent amendments see 2000 Index to Legislation of Western Australia, Table 1, p. 279-80.] 6. Section 7 amended 10 Section 7 is amended by inserting after "thereafter" -- " up to and including the year of assessment ending on 30 June 2001 ". 15 7. Section 8 inserted After section 7 the following section is inserted -- " 8. Rate of tax imposed after 30 June 2002 For the year of assessment commencing on 20 1 July 2002, and for each subsequent year of assessment, the rate of tax referred to in section 2 and imposed and payable as provided in that section is 0.15 cent for every dollar of the unimproved value of the land according to the valuation in force under the 25 Valuation of Land Act 1978 at midnight on 30 June in the previous financial year. ". page 3 Taxation Administration (Consequential Provisions) (Taxing) Bill 2001 Part 3 Stamp Act 1921 amended s. 8 Part 3 -- Stamp Act 1921 amended 8. The Act amended The amendments in this Part are to the Stamp Act 1921*. [* Reprinted as at 3 August 2001.] 5 9. Section 112P amended After section 112P(2) the following subsection is inserted -- " (3) A dutiable statement prepared under subsection (1) is taken to be an instrument evidencing the transaction or 10 offer and is chargeable with duty -- (a) at the rate of 1.8% of the amount that is or will be payable for the use of the goods; or (b) where that amount is not capable of being determined, of an amount of -- 15 (i) $20; and (ii) on 31 August in each year further duty of an amount equal to 1.8% of the amount paid in respect of the use of the goods during the year ending on the 20 preceding 30 June. ". page 4 Taxation Administration (Consequential Provisions) (Taxing) Bill 2001 Stamp Act 1921 amended Part 3 s. 10 10. Second Schedule amended (1) Item 4A in the Second Schedule is deleted and the following item is inserted instead -- " 4A. CONVEYANCE OR TRANSFER OF UNLISTED WA SECURITY Conveyance or transfer of an unlisted WA security ....... 0.60 for every The transferee, $100 and every or in the case of an fractional part of overseas transfer, $100 of the the issuer (s. 104) amount or value of the consideration 5 ". (2) Item 6 in the Second Schedule is amended by deleting "$20.00 or the same duty as for item 4 or 4A, as the case requires, if less than $20.00" and inserting instead -- " The lesser of -- (a) $20; and (b) the duty that would be payable under item 4 or 4A (as the case may be) if the conveyance or transfer was chargeable with duty under that item 10 ".
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