Australian Capital Territory
Revenue Legislation Amendment Act 2017 (No 2)
A2017-11
    
Contents
	Page
Part 1	Preliminary
	1	Name of Act	2
	2	Commencement	2
	3	Legislation amended	2
Part 2	Duties Act 1999
	4	Insurance
Chapter 8	3
	5	Minimum amount of duty
Section 229 (2)	3
	6	Objections
Section 252 (o) to (r)	3
	7	Dictionary	3
	8	Dictionary, definition of premium	3
	9	Dictionary, definitions of registered insurer and third‑party insurance	4
Part 3	Land Tax Act 2004
	10	Imposition of land tax
Section 9 (2)	5
	11	Unit subdivisions—land tax
Section 27 (3) (b)	5
	12	Section 27 (4) to (7)	5
	13	Working out amounts with fractions for Act
Section 40 (2)	7
Part 4	Rates Act 2004
	14	Imposition of rates
Section 14 (2)	8
	15	Unit subdivisions—rates
Section 29 (3) (b)	8
	16	Section 29 (4) to (6)	8
	17	Rebate of rates—eligible person since 30 June 1997
New section 63 (5A) to (5C)	10

Australian Capital Territory
Revenue Legislation Amendment Act 2017 (No 2)
A2017-11

An Act to amend legislation about revenue

    

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

Part 1	Preliminary
1	Name of Act
This Act is the Revenue Legislation Amendment Act 2017 (No 2).
2	Commencement
This Act commences on 1 July 2017.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
3	Legislation amended
This Act amends the following legislation:
·	Duties Act 1999
·	Land Tax Act 2004
·	Rates Act 2004.

Part 2	Duties Act 1999
4	Insurance
Chapter 8
omit
5	Minimum amount of duty
Section 229 (2)
omit
6	Objections
Section 252 (o) to (r)
omit
7	Dictionary
omit the definitions of
general insurance
general insurer
insurer
life insurance
life insurance rider
paid
8	Dictionary, definition of premium
substitute
premium––for chapter 2 (Transactions concerning dutiable property)—see section 6.
9	Dictionary, definitions of registered insurer and third‑party insurance
omit

Part 3	Land Tax Act 2004
10	Imposition of land tax
Section 9 (2)
substitute
	(2)	The appropriate rate of land tax for a parcel of land is—
	(a)	if section 27 (3) applies—the amount worked out under section 27 (4); or
	(b)	in any other case—the amount worked out for the parcel as follows:

Note	Section 27 (3) applies to a unit owner in a registered units plan whose unit is subject to land tax.
11	Unit subdivisions—land tax
Section 27 (3) (b)
omit
subsection (5)
substitute
subsection (4), (5) or (6), whichever applies
12	Section 27 (4) to (7)
substitute
	(4)	If a unit that is part of a unit subdivision is owned by someone other than a corporation or trustee, and the unit contains multiple dwellings, and at least 1 of the dwellings is rented by a tenant—the amount worked out for the unit is as follows:

	(5)	If a unit that is part of a unit subdivision and that is not rented is owned by either a corporation or trustee, and another person who is neither a corporation nor a trustee—the amount worked out for the unit is as follows:

	(6)	If a unit is part of a unit subdivision, and subsections (4) and (5) do not apply—the amount worked out for the unit is as follows:

	(7)	In this section:
AI means the value of all interests in the unit.
AUV—see section 9 (4).
AUVRU means the AUV of the parcel proportionate to the number of residential units in the parcel, worked out as follows:

AUVRUP means the AUVRU adjusted by the applicable percentage rate, worked out as follows:

C&TI means the value of all interests in the unit held by corporations and trustees.
dwelling does not include a garage, carport, garden shed, veranda, pergola, patio or any other structure not used for living in.
FA means the floor area of the dwelling that is rented.
FC—see section 9 (4).
P—see section 9 (4).
residential unit means a unit that is residential land.
TFA means the total floor area of the unit.
TUE means the unit entitlement of all the units in the units plan.
TUER means the total unit entitlement of all the residential units in the units plan.
UE means the unit entitlement of the unit.
unit entitlement—see the Unit Titles Act, section 8.
units plan means a units plan under the Unit Titles Act, section 7.
13	Working out amounts with fractions for Act
Section 40 (2)
omit
section 27 (5)
substitute
section 27 (4), (5) or (6)

Part 4	Rates Act 2004
14	Imposition of rates
Section 14 (2)
substitute
	(2)	Rates are imposed for a parcel of rateable land in accordance with—
	(a)	if section 29 (3) applies—the formula that applies under section 29 (4); or
	(b)	in any other case—the following formula:

Note	If s 29 (3) applies, rates imposed for a parcel of land that is a unit subdivision are payable by the unit owners. The amount payable by each unit owner is the amount worked out under section 29 (4).
15	Unit subdivisions—rates
Section 29 (3) (b)
omit
subsection (5)
substitute
subsection (4)
16	Section 29 (4) to (6)
substitute
	(4)	Rates are imposed on a unit that is part of a unit subdivision in accordance with—
	(a)	for a unit other than a residential unit—the following formula:
; or
	(b)	for a residential unit—the following formula:

	(5)	In this section:
AUV means the average unimproved value of the parcel.
AUVRU means the AUV of the parcel proportionate to the number of residential units in the parcel, worked out as follows:

AUVRUP means the AUVRU adjusted by the applicable percentage rate, worked out as follows:

	AUVU means the AUV of the parcel proportionate to the unit in the parcel, worked out as follows:

FC—see section 14 (3).
P—see section 14 (3).
residential unit means a unit that is residential land.
TUE means the unit entitlement of all the units in the units plan.
TUER means the total unit entitlement of all the residential units in the units plan.
UE means the unit entitlement of the unit.
17	Rebate of rates—eligible person since 30 June 1997
New section 63 (5A) to (5C)
insert
	(5A)	However, subsection (5) does not apply to a person (a DI2016‑150 person) whose liability for the fixed charge component of rates for the 2016-17 financial year was determined under the Taxation Administration (Rates—Eligible Person Since 30 June 1997) Determination 2016 (No 1) (DI2016-150).
	(5B)	For a DI2016-150 person, the amount of the rebate for the 2017‑18 financial year is the lesser of—
	(a)	the amount that the person would have received as a rebate under subsection (5) for the 2016‑17 financial year if the Rates (Pensioner Rebate) Amendment Act 2016 had commenced on 1 July 2016; and
	(b)	the amount worked out as follows:

	(5C)	Subsections (5A) and (5B) and this subsection expire on 30 June 2018.

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on 23 March 2017.
2	Notification
	Notified under the Legislation Act on 16 May 2017.
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 Amendment Bill 2017 (No 2), which originated in the Legislative Assembly as the Revenue Legislation Amendment Bill 2017 and was passed by the Assembly on 11 May 2017. 

Clerk of the Legislative Assembly

© Australian Capital Territory 2017