The Revenue Laws Amendment Bill 2013 (WA) was introduced into the WA Legislative Assembly on 14 August 2013. It proposes to amend the Duties Act 2008 (WA) and the Taxation Administration Act 2003 (WA) to introduce interim assessment and related provisions. These will allow the WA Commissioner of State Revenue to assess and collect duty on large, high complexity transactions in a more timely and efficient manner. This measure formed part of the Taxation Administration Package that was announced in the WA Budget 2013-14.
The Bill also proposes to amend the First Home Owner Grant Act 2000 (WA) to implement the changes to the First Home Owner Grant (FHOG) scheme as announced in the Budget. Under the changes, the WA Government will increase the grant to id=”mce_marker”0,000 for first home buyers who purchase or build a newhome, and will provide a grant of $3,000 for the purchase of an established home.
[LTN 158, 16/8/13]