The Taxation and Related Legislation (Miscellaneous Amendments) Bill 2017 (Tas) has passed all stages without amendment and awaits Royal Assent.
It amends the Duties Act 2001, Land Tax Act 2000, Land Titles Act 1980, Local Government Act 1993, Payroll Tax Act 2008, Taxation Administration Act 1997, Taxation Administration Regulations 2010 and the Valuation of Land Act 2001.
Amendments include:
- facilitate the collection of information required to be reported by the State to the Federal Government in relation to the transfers of freehold interest in real property as required under the Taxation Administration Act 1953(Cth);
- ensure that the amount of a motor vehicle allowance that can be paid to an employee before it is subject to payroll tax correctly aligns with changes to the ITAA 1997 and to maintain harmonisation with other Australian jurisdictions;
- extend the principal residence land classification for the former principal place of residence of a deceased person for the financial year following death to allow sufficient time for administration of the estate;
- reduce the information required to be provided by executors of a deceased estate to be eligible for an exemption from duty for the transfer of a motor vehicle to the beneficiary of the estate;
- abolish duties on instruments that do not transfer or affect the ownership of land.
[Tasmanian Parliament Website: Amendments Bill; LTN 72, 19/4/17]