The following Bills were introduced into the ACT Legislative Assembly on 29 March 2012:
- Duties Amendment Bill 2012 (ACT) – amends the Duties Act 1999 (ACT) to clarify the treatment of “land rent leases”. Date of effect: The amendments are proposed to commence from the day after the Bill’s notification.
- Duties Amendment Bill 2012 (No 2) (ACT) – amends the Duties Act to abolish duty on transfers of short-term commercial subleases. Date of effect: The amendments are proposed to commence from the day after the Bill’s notification.
- Rates and Land Tax Legislation Amendment Bill 2012 (ACT) – amends the Rates Act 2004 (ACT) to impose rates on common areas in a Community Title Scheme (CT Scheme) according to the highest purpose clause within the CT Scheme. The Bill also proposes related amendments to the Land Tax Act 2004 (ACT) to ensure that where the common area is deemed either non-rented residential or rural, no land tax applies. Date of effect: The amendments are proposed to commence on 1 July 2012.
[LTN 64, 3/4]