NSW: State Revenue Legislation Further Amendment Bill 2014 passed – Payroll Tax restriction to contractor provisions; Duties Act anti-avoidance; Land Tax grouping provisions [67]

The State Revenue Legislation Further Amendment Bill 2014 (NSW) has passed all stages of the NSW Parliament without amendment and awaits Assent. It contains:

1. 1.amendments to the Payroll Tax Act 2007 (NSW) to clarify and restrict certain exceptions from the contractor provisions under that Act;
2. 2.amendments to the Payroll Tax Rebate Scheme (Jobs Action Plan) Act 2011 (NSW) to permit a rebate to be claimed for an internally transferred employee who is employed in a new job;
3. 3.amendments to the Duties Act 1997 (NSW) to, among other things, prevent certain avoidance practices and to make further provision for the duty payable on transactions involving self-managed superannuation funds (SMSFs); and
4. 4.amendments to the Land Tax Management Act 1956 (NSW) to change the rules for the grouping of companies under that Act.

The amendments will apply from the date the Bill receives Assent, except for the amendments to the Payroll Tax Act, which will broadly commence from 1 July 2014.

[LTN 199, 15/10/14]

Bill receives Assent

The State Revenue Legislation Further Amendment Bill 2014 (NSW) received Royal Assent on Thur 23.10.2014, as Act No 56 of 2014.

[LTN 206, 24/10/14]