The State Taxation and Financial Legislation Amendment Bill 2013 (Vic) was introduced into the Victorian Legislative Assembly on 15 October 2013. It amends the Duties Act 2000 (Vic) to make provision for dutiable transactions effected electronically by means of an Electronic Lodgment Network, an online facility for the electronic conveyance of land that is scheduled for release in Victoria in 2014. It also amends the Taxation Administration Act 1997 (Vic) to authorise disclosures of information made in connection with the provision or use of an Electronic Lodgment Network.
The Bill also amends the Land Tax Act 2005 (Vic) to:
- extend the principal place of residence exemption to land owned by the trustee of a special disability trust that is used as the primary residence of the principal beneficiary of the special disability trust; and
- remove the 6-year time limit on the principal place of residence exemption of a person who has moved into a hospital, residential care facility, or to live with a carer.
The Bill also contains other amendments to the following Victorian Acts: the Commonwealth Places (Mirror Taxes Administration) Act 1999; the Financial Management Act 1994; and the Unclaimed Money Act 2008.
[LTN 201, 17/10/13]