Page 4117 - Week 12 - Thursday, 1 December 2022

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MR BARR (Kurrajong—Chief Minister, Treasurer, Minister for Climate Action, Minister for Economic Development and Minister for Tourism) (11.07): I move:

That this bill be agreed to in principle.

This bill continues the ACT government’s efforts to improve and promote the operation of our tax laws, as part of a series of revenue legislation amendment bills. Principally, this bill introduces amendments to update landholder duty provisions and the Duties Act 1999. Other minor and technical amendments are also included in the bill.

The bill includes amendments as part of the first stage of clarifying and modernising landholder duty provisions under chapter 3 of the Duties Act. The landholder duty provisions support the integrity of the Duties Act by addressing the circumstances where parties may acquire indirect interests in dutiable property. Specifically, the bill will clarify and simplify how duty is imposed on a relevant acquisition by a landholder, being an entity with an interest in ACT land, and allow for regulations to prescribe circumstances where the requirement for an acquisition statement is unnecessary.

Amendments in the bill affirm that an agreement for the sale of land under the meaning of landholding includes the grant of Crown lease. To further support integrity and debt recovery arrangements, the bill will amend the application of the liability for landholder duty to include the landholder and trustee for a private unit trust scheme, to align the ACT with other jurisdictions. The constructive ownership provisions of linked bodies are redrafted to align with the updated provisions of other jurisdictions. The definition of an “associated person” is proposed to be amended to reduce the potential to use interposed entities to reduce tax against the intent of the provisions.

The bill also provides some minor amendments to the Duties Act, the Land Tax Act 2004 and consequential amendments to the Civil Law (Sale of Residential Property) Act 2003. It is important that the integrity of the tax system is maintained through bills such as this. In doing so, we give effect to the functioning of government and the provision of services, to the benefit of all Canberrans. I commend the bill to the Assembly.

Debate (on motion by Ms Lee) adjourned to the next sitting.

Gaming Machine (Club Refuge) Amendment Bill 2022

Mr Rattenbury, pursuant to notice, presented the bill, its explanatory statement and a Human Rights Act compatibility statement.

Title read by Clerk.

MR RATTENBURY (Kurrajong-Attorney-General, Minister for Consumer Affairs, Minister for Gaming and Minister for Water, Energy and Emissions Reduction) (11.11): I move:

That this bill be agreed to in principle.

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