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


TAXATION ADMINISTRATION (CONSEQUENTIAL PROVISIONS) (TAXING) BILL 2001

                         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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