1998
1998
2001-12-18
act
publicspecial
act.reprint
allinforce
retroactivecommencements
2001-12-14
act-2001-112
none
act-1998-081
4323c1fc-24ef-4bab-9cfa-b71df378713d
2fbb8686-ebb4-4903-8c7f-a544b3f8cfe0
Note—
The Act was repealed by the Statute Law (Miscellaneous Provisions) Act (No 2)
2001 No 112, Sch 5 with effect from
14.12.2001.
An Act to amend the Duties
Act 1997, the Land Tax Act
1956, the Land Tax
Management Act 1956, the Motor Accidents
Act 1988 and the Stamp Duties Act
1920 in miscellaneous respects; and for other
purposes.
1Name of
Act
This Act is the State Revenue
Legislation Further Amendment Act
1998.
2Commencement
(1)
This Act commences on a day or days to be
appointed by proclamation, except as provided by this
section.
(2)
The following provisions commence, or are taken
to have commenced, on the dates indicated:
Section 8 on 3 June 1998
Schedule 1 [2]–[5] and [7] on 1 July
1998
Schedule 1 [1], [6] and [8] on 1 August
1998
Schedule 1 [10] and [11] on the date of assent to
this Act
Schedule 4 on 3 June 1998
Schedule 5 on 3 June
1998
(3)
Sections 3–7 in their application to a
provision of Schedules 1–5 commence, or are taken to have commenced, on
the day on which the provision commences or is taken to have
commenced.
3Amendment of Duties Act 1997 No
123
The Duties Act
1997 is amended as set out in Schedule
1.
4Amendment of Land Tax Act 1956 No
27
The Land Tax Act
1956 is amended as set out in Schedule
2.
5Amendment of Land Tax Management Act 1956 No
26
The Land Tax
Management Act 1956 is amended as set out in Schedule
3.
6Amendment of Motor Accidents Act 1988 No
102
The Motor Accidents
Act 1988 is amended as set out in Schedule
4.
7Amendment of Stamp Duties Act 1920 No
47
The Stamp Duties Act
1920 is amended as set out in Schedule
5.
8Application of amendments to
Stamp Duties Act
1920
The amendments made by this Act to the Stamp Duties Act 1920 apply to contracts
exchanged on or after 3 June 1998 and mortgages over land the subject of those
contracts.
Schedule 1Amendment of Duties Act 1997
(Section 3)
[1]Section 69 The nature of the
scheme
Omit “to choose to pay duty on the
agreement by instalments over a period of 5 years (instead of at the time of
purchase) or to pay the duty”.
Insert instead “to pay duty on the
agreement”.
[2]Section 72 Eligible
persons—net taxable income
Omit “$48,000” from section 72 (2)
and (3) wherever occurring.
Insert instead
“$57,000”.
[3]Section 72
(4)
Omit “$33,000”. Insert instead
“$39,000”.
[4]Section 74 Eligible agreements
or transfers
Omit “$155,000” from section 74 (3)
(a).
Insert instead
“$170,000”.
[5]Section 74 (3)
(b)
Omit “$145,000”. Insert instead
“$150,000”.
[6]Section 78 Making of
applications
Omit section 78 (2).
[7]Section 80 Stamping of
documents if application is approved
Omit “30%” from section 80
(1).
Insert instead
“50%”.
[8]Sections 81 Payment of
instalments
Omit “the undertaking” from section
81 (1).
Insert instead “an undertaking given under
section 78 (2) as in force before 1 August 1998”.
[9]Section
265
Omit the section. Insert instead:
265What is the rate of
duty?
(1)
The rate of duty is $3 per $100, or part, of the
dutiable value of the motor vehicle, except as provided by subsection
(2).
(2)
The rate of duty for a passenger vehicle, being a
vehicle:
(a)
that has a dutiable value of not less than
$45,000, and
(b)
that is constructed primarily for the carriage of
not more than 9 occupants, including a sedan, station wagon, coupe,
convertible, four wheel drive vehicle with seats and windows, two wheel drive
panel van with seats and windows, three wheel car, forward control passenger
vehicle, small bus (seating not more than 9 persons, including the driver),
motor home, and snow vehicle, but not including a motor cycle (with or without
a side car), large bus (seating more than 9 persons, including the driver),
hearse or invalid conveyance,
is $1,350 plus $5 per $100, or part, of the dutiable
value of the motor vehicle in excess of $45,000.
[10]Schedule 1 Savings,
transitional and other provisions
Omit “this Act.” from clause 1
(1).
Insert instead:
this Act or any of the following Acts:
State Revenue Legislation Amendment
Act 1998
State Revenue
Legislation Further Amendment Act
1998
[11]Schedule 1, clause 1
(2)
Omit “this Act”. Insert instead
“the Act concerned”.
Schedule 2Amendment of Land Tax Act 1956
(Section 4)
[1]Section
2A
Insert after section 2:
2ADefinition
In this Act, tax
threshold means the tax threshold determined in accordance
with section 62TB of the Land Tax Management Act
1956.
[2]Schedules 8 and
9
Omit “$160,000” wherever
occurring.
Insert instead “the tax
threshold”.
Schedule 3Amendment of Land Tax Management Act
1956
(Section 5)
Part 7, Division
4A
Insert after Division 4 of Part 7:
Division 4ATax
threshold
62TADetermination of change in NSW
property values
(1)
During the month of September in each year, the
Valuer-General is to determine the percentage by which average land values of
land within residential, commercial, business and industrial zones in New
South Wales have changed between 1 July 1997 and 1 July last preceding the
making of the determination.
(2)
For the purposes of this section, land is within
a residential, commercial, business or industrial zone if it is zoned or
otherwise designated for use under an environmental planning instrument
(within the meaning of the Environmental
Planning and Assessment Act 1979) for, or principally for,
residential, commercial, business or industrial purposes, or for some or all
of those purposes.
(3)
On or before 15 October in each year, the
Valuer-General is to publish the determination made under subsection (1) in
the Gazette.
62TBTax
threshold
(1)
The tax threshold for the 1998 land tax year is
$160,000.
(2)
The tax threshold for a land tax year subsequent
to the 1998 land tax year is to be determined in accordance with the following
formula, subject to subsection (3):
(3)
The tax threshold for a succeeding land tax year
is to remain the same as for the previous land tax year if the tax threshold
determined in accordance with the formula in subsection (2) for the succeeding
land tax year is equal to or less than the tax threshold for the previous
year.
(4)
A tax threshold determined in accordance with
this section is to be rounded off to the nearest $1,000.
(5)
On or before 15 October in each year, the
Valuer-General is to publish the tax threshold applicable to the following
land tax year in the Gazette.
62TCDefinition
In this Division, land value means:
(a)
in the case of land other than a stratum, the
land value of the land as determined in accordance with the Valuation of Land Act 1916,
and
(b)
in the case of a stratum, the land value of the
stratum as determined in accordance with the Valuation of Land
Act 1916.
Schedule 4Amendment of Motor Accidents Act
1988
(Section 6)
[1]Section 148 Payment of
short-fall levy at time of registration of motor vehicle
etc
Omit “under subsection (2) or (3), as the
case requires,” from section 148 (4).
Insert instead “required to be paid under
this section”.
[2]Section 148
(6)–(8)
Insert after section 148 (5):
(6)
A person who applies for the registration or the
renewal of registration of a motor vehicle that takes effect on or after 1
July 1998 and who:
(a)
is the holder of a Senior’s Card (being a
card of that name issued by the New South Wales Government),
or
(b)
is the recipient of, or the spouse or de facto
partner of the recipient of, a family allowance from the Commonwealth under
Part 2.17 of the Social Security Act 1991 of the
Commonwealth, or
(c)
uses the motor vehicle as a primary
producer’s vehicle within the meaning of the Motor
Vehicles Taxation Act 1988,
is not liable to pay the short-fall levy determined
under this Part.
(7)
A person who applies for the registration or the
renewal of registration of a motor vehicle that takes effect on or after 1
July 1999, being a motor vehicle that is used for private purposes within the
meaning of the Motor Vehicles Taxation Act
1988, is not liable to pay the short-fall levy determined
under this Part.
(8)
A person who applies for the registration or the
renewal of registration of a motor vehicle that takes effect on or after 1
July 2000 is not liable to pay the short-fall levy determined under this
Part.
Schedule 5Amendment of Stamp Duties Act
1920
(Section 7)
[1]Schedule 2A First home
purchase scheme
Omit “$48,000” from clause 20 (2) and
(3) wherever occurring.
Insert instead
“$57,000”.
[2]Schedule 2A, clause 20
(4)
Omit “$33,000”. Insert instead
“$39,000”.
[3]Schedule 2A, clause 22 (2)
(a)
Omit “$155,000”. Insert instead
“$170,000”.
[4]Schedule 2A, clause 22 (2)
(b)
Omit “$145,000”. Insert instead
“$150,000”.
[5]Schedule 2A, clause 28
(1)
Omit “30%”. Insert instead
“50%”.
Historical
notes
Table of amending
instruments
State Revenue
Legislation Further Amendment Act 1998 No 81. Assented to
14.7.1998. Date of commencement (secs 3–8 and Schs 1, 4 and 5 excepted)
31.8.1998, sec 2 (1) and GG No 120 of 14.8.1998, p 6028; date of commencement
of sec 3, 1.7.1998, sec 2 (3); date of commencement of secs 4 and 5,
31.8.1998, sec 2 (3); date of commencement of secs 6 and 7, 3.6.1998, sec 2
(3); date of commencement of sec 8 and Schs 4 and 5, 3.6.1998, sec 2 (2); date
of commencement of Sch 1 [1], [6] and [8], 1.8.1998, sec 2 (2); date of
commencement of Sch 1 [2]–[5] and [7], 1.7.1998, sec 2 (2); date of
commencement of Sch 1 [10]–[11], assent, sec 2
(2).