Page 995 - Week 03 - Thursday, 10 April 2014

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

Clause 93.

MR SMYTH (Brindabella) (4.26): I move amendment No 12 circulated in my name [see schedule 1 at page 1008].

This amendment proposes a small change of words that omits “notifiable instrument” and basically inserts “disallowable” instrument. I note that members will speak to this, so I will not burden the debate. I thank members for their support, at least on this one.

MR BARR (Molonglo—Deputy Chief Minister, Treasurer, Minister for Economic Development, Minister for Sport and Recreation, Minister for Tourism and Events and Minister for Community Services) (4.27): The government will support Mr Smyth’s amendment—proof that we do not oppose everything you put up, Mr Smyth.

Amendment agreed to.

Clause 93, as amended, agreed to.

Remainder of bill, by leave, taken as a whole and agreed to.

Bill, as amended, agreed to.

Duties (Commercial Leases) Amendment Bill 2014

Debate resumed from 20 March 2014, on motion by Mr Barr:

That this bill be agreed to in principle.

MR SMYTH (Brindabella) (4.28): The explanatory memorandum for the Duties (Commercial Leases) Amendment Bill 2014 states the purpose of the bill in the following terms:

In the ACT, conveyance duty on short-term commercial leases (less than 30 years) was abolished, effective from 1 July 2009. However, conveyance duty continues to be charged on long-term commercial leases by the Duties Act 1999 (the Duties Act). A lease term of 30 years or more is considered to be a de facto transfer of land; the provisions are thus intended as an anti-avoidance measure.

It also states:

The amendments in this bill introduce a premium-based method for assessing duty on commercial leases, being leases that have only a commercial purpose or more than one purpose including commercial purpose. Examples of commercial activities include (but are not limited to) retail outlets, supermarkets, department stores, service stations and commercial accommodation, such as a hotel. Residential or Primary production leases are excluded from this duty.

And it states:

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