Australian Capital Territory
Revenue Legislation (Tax Reform) Amendment Act 2013
A2013-17
    
Contents
	Page
	1	Name of Act	2
	2	Commencement	2
	3	Legislation amended—sch 1	2
Schedule 1	Legislation amended	3
Part 1.1	Land Tax Act 2004	3
Part 1.2	Rates Act 2004	3

Australian Capital Territory
Revenue Legislation (Tax Reform) Amendment Act 2013
A2013-17

An Act to amend the Land Tax Act 2004 and the Rates Act 2004

    

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Revenue Legislation (Tax Reform) Amendment Act 2013.
2	Commencement
This Act commences on the day after its notification day.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
3	Legislation amended—sch 1
This Act amends the legislation mentioned in schedule 1.

Schedule 1	Legislation amended
(see s 3)
Part 1.1	Land Tax Act 2004
[1.1]	Section 9 (1) (c)
omit
[1.2]	Section 9 (4), definition of commercial land
omit
[1.3]	Division 4.1 heading
omit
[1.4]	Division 4.2
omit
[1.5]	Dictionary, definition of qualifying parcel of land
omit
Part 1.2	Rates Act 2004
[1.6]	Section 14 (1)
omit
that has an average unimproved value of the threshold amount or less
[1.7]	Section 14 (2)
omit
that has an average unimproved value of more than the threshold amount
[1.8]	Section 14 (2), formula
substitute

[1.9]	Section 14 (3), definition of TA
omit
[1.10]	Section 34 (1)
substitute
	(1)	This section applies to a parcel of land that is a qualifying parcel of land.
[1.11]	Section 34 (3), formula
substitute

[1.12]	Section 34 (4), definition of TA or threshold amount
omit
[1.13]	New section 46 (2) (f)
insert
	(f)	if the owner, or each owner, is not a pensioner—that—
	(i)	at least 1 owner is 65 years old or older; and
	(ii)	the total income of the owner, or all the owners, is not more than an amount determined by the Minister (the income threshold amount); and
	(iii)	the unimproved value of the parcel is more than a value determined by the Minister (the determined value); and
	(iv)	the owner’s or owners’ equity in the parcel is not less than a percentage determined by the Minister (the determined percentage).
Note	Power to make a statutory instrument includes power to make different provision in relation to different matters or different classes of matters (see Legislation Act, s 48).
[1.14]	New section 46 (9) and (10)
insert
	(9)	A determination under subsection (2) (f), or subsection (10), definition of income, is a disallowable instrument.
Note	A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act.
	(10)	In this section:
income, of an owner, means the income of the owner worked out in the way determined by the Minister.
[1.15]	New section 52 (1) (g)
insert
	(g)	if the determination relates to the person or people mentioned in section 46 (2) (f)—
	(i)	the total income of the owner, or all the owners, is more than the income threshold amount; or
	(ii)	the unimproved value of the parcel is less than or equal to the determined value; or
	(iii)	the owner’s or owners’ equity in the parcel is less than the determined percentage.
[1.16]	Section 52 (3), new definitions
insert
determined percentage—see section 46 (2) (f) (iv).
determined value—see section 46 (2) (f) (iii).
income, of an owner—see section 46 (10).
income threshold amount—see section 46 (2) (f) (ii).
[1.17]	Schedule 1, section 1.1 (2)
omit
that has an average unimproved value of more than the threshold amount
[1.18]	Schedule 1, section 1.1 (2), formula
substitute

[1.19]	Schedule 1, section 1.1 (3), definition of TA (or threshold amount)
omit
[1.20]	Schedule 1, section 3.1 (3), formula
substitute

[1.21]	Schedule 1, section 3.1 (4), definition of TA (or threshold amount)
omit

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on 11 April 2013.
2	Notification
	Notified under the Legislation Act on 22 May 2013.
3	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

I certify that the above is a true copy of the Revenue Legislation (Tax Reform) Amendment Bill 2013, which was passed by the Legislative Assembly on 9 May 2013. 

Clerk of the Legislative Assembly

© Australian Capital Territory 2013