On Tuesday 11.12.16, the Victorian Government introduced the State Taxation Acts Further Amendment Bill 2016 (Vic) into the Victorian Legislative Assembly on Tue 11.10.2016 and it had passed the Lower House by the end of October 2016.
- It proposes to amend 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 proposes to amend 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).
[LTN 197, 12/10/16]