Page 2294 - Week 07 - Thursday, 4 August 2016

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Pursuant to continuing resolution 5A, I present the following paper:

Health, Ageing, Community and Social Services—Standing Committee—Schedule of Statutory Appointments—8th Assembly—Periods 1 January to 30 June 2016 and 1 July to 31 December 2016.

Revenue Legislation Amendment Bill 2016

Debate resumed from 8 June 2016, on motion by Mr Barr:

That this bill be agreed to in principle.

MR COE (Ginninderra) (10.59): The opposition will be supporting the Revenue Legislation Amendment Bill 2016. The bill amends the Duties Act, the Rates Act and the Taxation Administration Act to improve revenue collection in the territory.

The bill amends the Duties Act to clarify the timing of duty payments for the purchase of off the plan residences. The bill repeals provisions that are no longer relevant including those relating to declarable affordable house and land packages and the ability for the minister to declare a recognised stock exchange by disallowable instrument.

The bill amends the Rates Act to clarify the meaning of the “relevant date” for determining the unimproved value of the parcel of land. In practice the relevant date has always been 1 January immediately before the beginning of the financial year, so the bill makes this clear. Under the Rates Act, owners who intend to develop land for both residential and commercial purposes may have rates applied proportionally. The current provisions allow for rates on undeveloped land to be applied based on the owner’s intention. The bill removes references to “intention” and replaces it with a requirement for the land to be either entirely undeveloped or have development approval for both residential and commercial development. The provisions will cease to apply if development has not started within two years or if the development has not materially affected the permitted use of the parcel within that time.

The bill amends the Taxation Administration Act to grant valuers from the ACT Valuation Office the dedicated power of entry to conduct valuations. Valuers will hold identity cards, and an increased penalty will apply for people who obstruct or hinder the valuer in their work.

The opposition will be monitoring this power and these changes to make sure they are having the intended consequences. If we feel they are having an unintended consequence or placing an unreasonable burden on people who are seeking to create opportunities in Canberra we will seek to make the appropriate changes.

In addition to the changes I have already mentioned, the bill replaces references to “serving” a document with “giving” a document. In conclusion, the opposition supports this bill, which makes minor changes to the revenue legislation in the territory.

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