Victorian Numbered Acts

STATE TAXATION ACTS AMENDMENT ACT 2015 (NO. 26 OF 2015) - SECT 1

The main purposes of this Act are—

        (a)     to amend the Duties Act 2000 —

              (i)     to alter definitions in relation to companies, shares and units; and

              (ii)     to update references to Commonwealth legislation in relation to Seniors Health Cards and private health insurance; and

              (iii)     to clarify the circumstances in which a person makes a relevant acquisition in a landholder for the purposes of Part 2 of Chapter 3; and

              (iv)     to exempt mobile plant and special purpose vehicles (type P) from motor vehicle duty and to update definitions for the purposes of motor vehicle duty; and

              (v)     to set the rate for an additional duty chargeable in respect of transfers of residential property to foreign purchasers; and

              (vi)     to make technical amendments; and

        (b)     to amend the Land Tax Act 2005 to impose a surcharge on land owned by absentee owners; and

        (c)     to amend the Taxation Administration Act 1997 —

        (i)     in relation to tax offsets and tax refunds; and

              (ii)     to impose penalty tax on a person who fails to notify the Commissioner that the person is an absentee owner; and

        (d)     to consequentially amend the Back to Work Act 2015 .