The State Taxation and Treasury Legislation Amendment Bill 2022 has passed the Victorian Parliament and received Royal Assent on 15 June 2022.
The Bill makes minor amendments to a range of state taxes. Key changes include:
- confirming that a payroll tax exemption applies to certain wages paid under an employment agency contract and other related arrangements, where the agent on-hires their common law employees to a client exempt from payroll tax (for example, a charity or public hospital)
- amending land tax legislation to replace the current refund model for recently constructed or renovated principal places of residence with an upfront exemption from land tax
- amending the windfall gains tax legislation to provide an exemption from windfall gains tax on land owned by a university in certain circumstances
- amending Taxation Administration Act 1997 to impose a time limit of five years on the discretion of the Commissioner of State Revenue to permit the late lodgement of an out of time objection.
The Victorian State Revenue Office has published a summary of the changes to state taxes.Read more
State Taxation and Treasury Legislation Amendment Bill 2022
Downland a copy of the Bill and the Explanatory MemorandumRead more