The State Taxation Acts Further Amendment Bill 2016 (Vic) has passed all stages without amendment and received Royal Assent on 15/11/16 as Act No. 66 of 2016.
It amends the Payroll Tax Act 2007 (Vic) to update the way the exempt rate used in the calculation of the exempt component of motor vehicle allowances is determined. The changes will be taken to have commenced on 1 July 2016.
It also amends the Land Tax Act 2005 (Vic) to:
(i) align the date for the determination of the taxable value of non-rateable non-leviable land with the date that applies to other land; and
(ii) correct one of the surcharge rates of land tax for absentee trusts. The land tax changes will apply from 1 January 2017.
The Bill also contains amendments to the Planning and Environment Act 1987 (Vic) and the Valuation of Land Act 1960 (Vic).
[Victorian Parliament website – Bills] [LTN 219, 11/11/16] [LTN 222, 16/11/16]