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REVENUE MEASURES BILL 26 OF 2012

Legislation Fact Sheet


Revenue Measures Bill 2012
The Revenue Measures Bill 2012 implements the Government's 2012-13 State Budget
revenue-raising measures by amending the Duties Act 2001 and the Vehicle and
Traffic Act 1999. The amendments are to take effect on 1 October 2012.
   The Duties Act is to be amended to:
   o   revise conveyance duty rates and thresholds.
   o   increase the rate of duty charged on contracts of general insurance from
       8.0 per cent of the premium paid to 10.0 per cent of the premium paid; and
   o   increase the duty on Motor Accident Insurance Board premiums from
       $6 per registration to $20 per registration.
   The Vehicle and Traffic Act is to be amended to increase the rates of motor tax on light
   vehicles by 20 per cent.
 
 

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