The State Revenue Legislation Amendment Act 2017 received assent on 11 April 2017.
The amendments commence on the date of assent unless otherwise indicated. Amendments were made to:
The amendments clarify that the application of that Act that apply to written instruments also apply to instruments that are in digital form.
The amendment extends a provision to the charging of nominal duty (rather than ad valorem duty) on certain transfers of property to the custodian of a trustee of a self-managed superannuation fund where duty on an agreement for the sale or transfer of the property has been paid and the purchaser is the trustee.
The amendments ensure that nominal duty of $50 is chargeable on certain transfers of trust property that are a consequence of the retirement or appointment of trustees only if the Chief Commissioner is satisfied that the transfers are not part of a scheme to avoid duty that involves conferring an interest, in relation to the trust property, on a new trustee or other person so as to cause any person to cease holding a beneficial interest in that property. Ad valorem duty may be chargeable on those transfers, instead of nominal duty, if the Chief Commissioner fails to be satisfied that they are not part of such a scheme.
The amendments extend existing exemptions from duty connected with transfers between family members of land used for primary production to cover transfers from a self-managed superannuation fund where a member of the fund and the person to whom the land is transferred are family members.
The amendments provide for an exemption from duty connected with transfers of property between superannuation funds that are required to be made under transitional arrangements relating to the Commonwealth’s MySuper reforms.
The amendments make further provision for the test to be applied in determining the amount of duty that a person is liable to pay as a result of a tax avoidance scheme that is of an artificial, blatant or contrived nature.
The amendments extend the circumstances in which a trustee and another trustee, a natural person and a trustee, and a private company and a trustee are treated as being “associated” for the purposes of liability for duty, by tracing through to sub-trusts.
The amendment requires a Government entity that leases land to disclose to the lessee in writing, that the lessee can be liable for land tax on the land.
The amendment provides that certain wages paid by employment agents who on-hire their common law employees to clients of the agents are exempt from payroll tax if wages paid by the clients to their own employees are “exempt wages”.
The amendments exempts from payroll tax wages paid under the Supporting Leave for Living Organ Donors Programme.