News & Views

15th May 2020

State taxation relief measures enacted

The State Taxation Acts Amendment (Relief Measures) Act 2020 received Royal Assent today and introduces various changes, including land transfer duty and payroll tax relief measures for bushfire affected areas, as announced in January 2020. The amended Acts are the Duties Act 2000, First Home Owner Grant Act 2000, Payroll Tax Act 2007, and the Taxation Administration Act 1997, the latter which now gives the Commissioner of State Revenue authority to effect emergency tax relief measures, such as those related to the COVID-19 pandemic.

 

Landholder acquisitions duty revenue rulings

After public consultation, two revenue rulings on the landholder provisions in the Duties Act 2000 have been updated:

  • DA-055v2, which deals with the duty and lodgement obligations under the landholder provisions, provides additional guidance on the operation of the anomalous duty outcome concession under section 89E of the Duties Act 2000, particularly with respect to landholders whose Victorian land holdings comprise interests in fixtures held separately from the land on which they are located.
  • DA-056v2, which sets out guidance on the meaning of the term 'interest' under the landholder provisions, provides further clarification on the operation of section 89D(a) of the Duties Act 2000, including the continued availability under that section of the exemption under section 42.