Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .

Legislative Assembly for the ACT: 2001 Week 6 Hansard (15 June) . . Page.. 1805 ..

MR HUMPHRIES (continuing):

the property transferred unless the transaction falls into a class exempted from duty under guidelines determined by the Minister.

Mr Speaker, briefly, this Bill will also provide for:

� concessional duty on certain landrich transactions involving trustees, custodians and nominees where there is no change in the beneficial ownership of the property concerned. This will bring the Duties Act in line with NSW and Victorian legislation;

� the extension of relief from duty for corporate reconstructions to landrich companies. In line with government policy for corporate reconstructions, relief is currently provided by waiver. This amendment will reduce the administrative costs involved in processing waivers and provide certainty to the taxpayer;

� to exempt landrich private corporations from duty under part 3 chapter 3 where the corporation would be liable to duty under both parts 2 and 3 of chapter 3 on the same transaction; and

� clarification of the obligations of those organisations granting and issuing Crown leases on behalf of the Government.

Mr Speaker, this opportunity will also be taken to make general housekeeping and editorial changes in accordance with the Legislation Act 2001, which will also ensure internal consistency within the Duties Act.

In conclusion, Mr Speaker, the changes brought about by this Bill will help the ACT maintain consistency with the corresponding NSW legislation, and where practicable ensure ACT taxpayers are not disadvantaged compared to their NSW counterparts. They will also provide benefits to Government administrations adversely affected by the introduction of the Duties Act, maintain equity in the imposition of duty, capture previously non-dutiable transactions, and ensure the consistent treatment of private and public corporations.

Debate (on motion by Mr Quinlan ) adjourned to the next sitting.

Workers Compensation Amendment Bill 2001

Mr Smyth , pursuant to notice, presented the bill, its explanatory memorandum and an exposure draft of the Workers Compensation Regulations 2002.

Title read by Clerk.

MR SMYTH (Minister for Urban Services, Minister for Business, Tourism and the Arts and Minister for Police and Emergency Services) (10.34): Mr Speaker, this legislation builds on the exposure draft bill that I tabled in December 2000 and on which the government has undertaken extensive consultation with stakeholders and the community. Members may recall that the exposure draft legislation represented the first significant review of this act since its commencement in 1951. By any measure, the current act is dated and in need of substantial overhaul.

The government's exposure draft embodied a range of very important initiatives. They were all designed to get injured workers well, rehabilitated and back to work in a speedy but durable fashion. They sought to remove the pot of gold mentality among

Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . .