On 14 December 2017, 4 amendments were made to the State Taxation Acts Further Amendment Bill 2017 in the Legislative Council. They concern inserting a definition of “business day”, and other minor amendments. The Legislative Assembly subsequently agreed to those amendments, so the bill has passed both houses.
The Bill contains various amendments including:
- to the Payroll Tax Act 2007 to extend the exemption for wages paid to new entrants to “for profit” organisations declared to be an approved group training organisation;
- to the Land Tax Act 2005 to extend the exemption for absentee owners to absentee trusts in relation to the absentee owner surcharge imposed where the land ownership involves a sub trust structure, and to make further provision for circumstances in which certain land is exempt;
- to the Duties Act 2000 in relation to the imposition of foreign purchaser additional duty on a dutiable transaction to which a concession applies and the calculation of the first home buyer concession; and
- to the Taxation Administration Act 1997 (Vic) updating ‘authorised recipients’ permitted to receive disclosures of certain information about ‘dutiable transactions’ and to allow service of assessments and other documents electronically.
[Vic Legislation site: Bills Digest; Bill as passed; final EM; LTN 241, 15/12/17; Tax Month Dec 2017]