Revenue and Other Legislation Amendment Bill 2024 (Qld)

An Act to amend the Duties Act 2001, the First Home Owner Grant and Other Home Owner Grants Act 2000, the Land Tax Act 2010 and the Payroll Tax Act 1971 for particular purposes The Parliament of Queensland enacts—

Part 1 Preliminary

1 Short title This Act may be cited as the Revenue and Other Legislation Amendment Act 2024.

2 Commencement (1) Part 2, other than division 3, is taken to have commenced on 9 June 2024. (2) Part 2, division 3, commences on 1 July 2024. (3) Part 3, other than section 13, is taken to have commenced on 20 November 2023. (4) Part 4 commences on 30 June 2024. (5) Part 5 commences on 1 July 2024.

Part 2 Amendment of Duties Act 2001

Division 1 Preliminary

3 Act amended This part amends the Duties Act 2001.

Division 2 Amendments commencing 9 June 2024

4 Amendment of s 92 (Concession—first home) (1) Section 92(1)(c)(i)(A), '$500,000'— omit, insert— $700,000 (2) Section 92(1)(c)(i)(B), '$320,000'— omit, insert— $350,000

5 Insertion of new ch 17 , pt 29 Chapter 17— insert—

Part 29 Transitional provisions for Revenue and Other Legislation Amendment Act 2024

681 Definitions for part In this part— concession provisions means section 92 and schedules 4A and 4B. former, for a provision of this Act, see section 682(1). new, for a provision of this Act, see section 682(2).

682 References to former or new provisions (1) A reference in a provision of this part (the transitional provision) to a former provision of this Act is a reference to the provision as in force from time to time before the commencement of the transitional provision. Example— A reference in section 683 to the 'former concession provisions' is a reference to the concession provisions as in force from time to time before the commencement of section 683. (2) A reference in a provision of this part (the transitional provision) to a new provision of this Act is a reference to the provision as in force from the commencement of the transitional provision. Example— A reference in section 683 to the 'new concession provisions' is a reference to the concession provisions as in force from the commencement of section 683.