Fiscal Repair Amendment Bill 2012 (Qld)

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Queensland

Fiscal Repair Amendment Bill 2012

Queensland

Fiscal Repair Amendment Bill 2012

Contents Page Part 1 Preliminary 1 Short title 2... eee eee 16 2 Commencement... .......... 0.0 cece ee eee eee 16 Part 2 Amendment of Duties Act 2001 3 Act amended ......... 20. c eee ee tte 16 4 Amendment of s 137 (Exemption—mining, petroleum and other particular legislation) .......... 0... ccc eee eee 17 5 Amendment of s 167 (What are an entity's land-holdings)...... 17 6 Insertion of new ch 17, pt17 ... 6... ee eee 17 Part 17 Transitional and declaratory provisions for Fiscal Repair Amendment Act 2012 Division 1 Preliminary 630 Definitions for pt17............... 000. e cece 17 Division 2 Declaratory provision 631 Declaratory provision—effect of amending Act on meaning of land................00 2... cee eee 18 Division 3 Provisions for exploration authorities Subdivision 1 Preliminary 632 Purpose of div3...........0 0.0.00 cee e eee ee 18 Subdivision 2 _ Liability for duty 633 Meaning of land for retrospectivity period ......... 19 634 Meaning of statutory licence for retrospectivity period 19 635 Exemption from transfer duty for exploration authority granted during retrospectivity period ............. 19 636 Exemption from transfer duty for transfer of exploration authority under particular agreements............ 20 637 Particular exploration land-holdings not to be taken into account for working out landholder duty........... 20

Subdivision 3 Obligations of parties—transfer duty

Fiscal Repair Amendment Bill 2012

Contents

Part 3 Division 1 Division 2 1113

Page 2

638 Transfer duty—transactions previously not dutiable . .

639 Transfer duty—dutiable transactions not assessed before commencement day .............--.005-

640 Transfer duty—dutiable transactions assessed before commencement day................ 0.0.0.0 008