The State Taxation and Other Acts Amendment Bill 2012 (Vic) on Tues 4.12.2012, received Royal Assent as Act No 76 of 2012.
Among other things, it amends the Land Tax Act 2005 (Vic) to ensure that the principal place of residence exemption operates as intended and to restrict the amount of unpaid land tax the Commissioner of State Revenue (Vic) can recover from the lessee or occupier of land, and for other purposes. The majority of the amendments commence on Wed 5.12.2012.
The Victorian State Revenue Office (SRO) has issued General Information Bulletin GEN 02-12 which explains the changes made by the State Taxation and Other Acts Amendments Act 2012.
[LTN 236, 5/12]