The Taxation and Related Legislation (Miscellaneous Amendments) Bill 2013 (Tas) has passed all stages of the Tasmanian Parliament without amendment and awaits Assent. Some of the key amendments include:
- amendments to the Duties Act 2001 (Tas) to include as consideration for the transfer of land any payment agreed to be given for improvements to the land, to be carried out by the transferor or an associate of the transferor (eg house and land packages);
- amendments to the Land Tax Act 2000 (Tas) to tighten the requirements for adjoining land to be classified as principal residence land, by denying such a classification where the adjoining land has a dwelling that is used as a place of residence; and
- amendments to the Taxation Administration Act 1997 (Tas) to provide that the Commissioner of State Revenue (Tas) may reimpose any amount of penalty tax or interest that has previously been remitted.
The above amendments will commence on the day the Bill receives Royal Assent.
[LTN 190, 1/10/13]
Bill receives Royal Assent – SRO issues Fact Sheet
The Taxation and Related Legislation (Miscellaneous Amendments) Bill 2013 (Tas) on Mon 21.10.2013, received Royal Assent as Act No 41 of 2013. The above amendments commenced on Mon 21.10.2013.
The Tasmanian State Revenue Office (SRO) has released a factsheet on the amendments.
[LTN 204, 22/10/13]