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TASMANIA
__________
DUTIES AMENDMENT BILL 2005
__________
CONTENTS
1. Short title
2. Commencement
3. Principal Act
4. Section 30A inserted
30A. First home owners - concession - vacant land
[Bill 10]-I
2
DUTIES AMENDMENT BILL 2005
(Brought in by the Honourable Paul Harriss)
A BILL FOR
An Act to amend the Duties Act 2001
Be it enacted by His Excellency the Governor of Tasmania, by
and with the advice and consent of the Legislative Council and
House of Assembly, in Parliament assembled, as follows:
1. Short title
This Act may be cited as the Duties Amendment
Act 2005.
2. Commencement
This Act is taken to have commenced on
20 May 2004.
3. Principal Act
In this Act, the Duties Act 2001* is referred to as
the Principal Act.
*No. 15 of 2001
[Bill 10] 3
s. 4 No. Duties Amendment 2005
4. Section 30A inserted
After section 30 of the Principal Act, the
following section is inserted in Part 3:
30A. First home owners - concession - vacant
land
(1) If -
(a) a person enters into an agreement
for sale or transfer in relation to
vacant land and is subsequently
entitled to a grant under section 7
of the First Home Owner Grant
Act 2000, in relation to an eligible
transaction referred to in section
13(1)(b) or 13(1)(c) of that Act,
in respect of that land; and
(b) the dutiable value of that vacant
land does not exceed $175 000;
and
(c) duty has been paid on the
agreement for sale or transfer at
the rate specified in section 29 of
this Act; and
(d) the eligible transaction is
completed in accordance with
section 13(5)(b) or (c) of the First
Home Owner Grant Act 2000
before 30 June 2006 -
that person is entitled to apply to the
Commissioner for a full or partial refund
of the duty paid.
4
2005 Duties Amendment No. s. 4
(2) Subsection (1) applies to an agreement
for sale or transfer only if -
(a) the agreement is entered into on
or after 20 May 2004 and on or
before 30 June 2005; and
(b) the application to which
subsection (1) relates is lodged on
or before 30 September 2006.
(3) If the Commissioner is satisfied that the
application for a refund under
subsection (1) meets the requirements of
paragraphs (a), (b), (c) and (d) of that
subsection, the Commissioner must
refund to the person referred to in that
subsection -
(a) where the amount of duty paid
did not exceed $2 400, the
amount of duty paid; or
(b) where the amount of duty paid
exceeded $2 400, the amount of
$2 400.
(4) If the Commissioner refunds an amount
to a person under subsection (3) and later
becomes aware that the application for
the refund did not meet the requirements
of paragraphs (a), (b), (c) and (d) of
subsection (1), the Commissioner may
require the person to repay the amount
(the "refunded amount") to the
Commissioner.
(5) If, under subsection (4), the
Commissioner requires a person to repay
5
s. 4 No. Duties Amendment 2005
a refunded amount, the Commissioner
may -
(a) impose a penalty of up to 100%
of the refunded amount; or
(b) impose interest, at the interest
rate specified in section 35(1) of
the Taxation Administration Act
1997, on the refunded amount, on
a daily basis from the date the
refund was paid until the date the
refunded amount is repaid; or
(c) both impose a penalty referred to
in paragraph (a) and impose
interest referred to in
paragraph (b).
(6) If, under subsection (4), a person is
required to repay a refunded amount, the
amount of the refund is a charge on the
dutiable property referred to in
subsection (1).
6 Government Printer, Tasmania