The Taxation Legislation Amendment Bill (No 2) 2014 (WA) has passed all stages of the WA Parliament and effectively awaits Assent. It had passed the Legislative Assembly with Government amendments. It amends the Duties Act 2008 (WA) and the Land Tax Assessment Act 2002 (WA) to modernise the land tax exemption for primary producers following a government review.
The amendments provide that the primary production land tax exemption will apply, even when the primary produce is sold in a processed or converted state. For example, a primary producer who uses the land to grow grapes for the production and sale of wine, rather than the sale of grapes, will be eligible for an exemption. For “competitive neutrality reasons”, the exemption will apply to land used to grow the produce but will not apply to the portion of land used to process the produce. Note that there are other amendments within the Bill. The majority of the amendments will be taken to have commenced on 1 July 2014.
[LTN 33, 19/2/15]
Royal Assent – 25 February 2015
The Taxation Legislation Amendment Bill (No 2) 2014 (WA) received Royal Assent on 25 February 2015 as Taxation Legislation Amendment Act 2015 (WA), Act No 1 of 2015. It had passed all stages of the WA Parliament with Government amendments.
[LTN 39, 27/2/15]
Taxation Legislation Amendment Bill 2014 – narrow existing payroll tax, transfer duty and land tax exemptions as they apply to “fourth limb” charities
The Taxation Legislation Amendment Bill 2014 (WA) effectively awaits Royal Assent after the WA Legislative Assembly had accepted the amendments made in the Legislative Council. It amends the Duties Act 2008 (WA), Land Tax Assessment Act 2002 (WA), Pay-roll Tax Assessment Act 2002 (WA), and Taxation Administration Act 2003 (WA), to improve the efficacy of existing WA tax exemptions for charitable institutions. Broadly, the amendments contained in the Bill seek to narrow the scope of the existing payroll tax, transfer duty and land tax exemptions as they apply to “fourth limb” charities (ie organisations that promote other purposes considered beneficial to the community). Among other things, the amendments made in the Legislative Council aim to align the treatment of employer associations registered under various industrial relations legislation with trade unions.
[LTN 39, 27/2/15]