Revenue Legislation Amendment Bill 2018 (Qld)

An Act to amend the Duties Act 2001, the First Home Owner Grant Act 2000, the Land Tax Act 2010, the Land Tax Regulation 2010, the Mineral Resources Act 1989, the Payroll Tax Act 1971, the Petroleum and Gas (Production and Safety) Act 2004, the Taxation Administration Act 2001 and the Taxation Administration Regulation 2012 for particular purposes The Parliament of Queensland enacts—

Part 1 Preliminary

1 Short title This Act may be cited as the Revenue Legislation Amendment Act 2018.

2 Commencement (1) Part 2 commences on 1 July 2018. (2) Part 3 is taken to have commenced on 1 January 2018. (3) Parts 4 and 5 commence on 30 June 2018. (4) Part 7 commences on 1 July 2018.

Part 2 Amendment of Duties Act 2001

3 Act amended This part amends the Duties Act 2001.

4 Amendment of s 244 (AFAD for transfer duty) Section 244(2) and (3), '3%'— omit, insert— 7%

5 Amendment of s 245 (AFAD for landholder duty) Section 245(2) and (4)(b), '3%'— omit, insert— 7%

6 Amendment of s 246 (AFAD for corporate trustee duty) Section 246(2), '3%'— omit, insert— 7%

7 Amendment of s 383 (Rate of vehicle registration duty, other than for a special vehicle) (1) Section 383, from 'is as stated'— omit, insert— is the total of— (a) the rate stated in schedule 4C; and (b) if the dutiable value of the vehicle at the dutiable day is more than $100,000—the rate of $2 for each $100, and each part of $100, of the vehicle's dutiable value. (2) Section 383— insert— (2) Subsection (1)(b) does not apply to a vehicle that has a GVM under the Vehicle Registration Act of more than 4.5t.

8 Insertion of new ch 17 , pt 24 Chapter 17— insert—

Part 24 Transitional provisions for Revenue Legislation Amendment Act 2018