{"id":"BILL-QLD-3236","name":"Revenue Legislation Amendment Bill 2024","slug":"revenue-legislation-amendment-bill-2024","collection":"bill","jurisdiction":"qld","status":"in_force","isInForce":true,"actNumber":null,"makingDate":"2024-01-01","administeringDepartment":null,"currentVersion":{"id":446124,"registerId":"BILL-QLD-3236:current","compilationNumber":null,"startDate":"2024-01-01","status":"in_force","reasons":null,"registeredAt":"2026-05-06T12:45:24.702Z"},"sections":[{"sectionNumber":"retrieval-0001","sectionType":"document_chunk","heading":"Document excerpt 1","content":"# Revenue Legislation Amendment Bill 2024\n\nQueensland\nRevenue Legislation\nAmendment Bill 2024\n\nQueensland\nRevenue Legislation Amendment Bill 2024\nContents\nPage\nPart 1 Preliminary\n1 Short title . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4\n2 Commencement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4\nPart 2 Amendment of Duties Act 2001\nDivision 1 Preliminary\n3 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4\nDivision 2 Amendments taken to have commenced on 6 December 2024\n4 Amendment of s 153 (Reassessment—disposal after occupation date for\nresidence) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4\n5 Insertion of new ch 17, pt 30 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5\nPart 30 Transitional provisions for Revenue Legislation\nAmendment Act 2024\n686 Non-application of amendments of s 153 to residential leases\nentered into before commencement . . . . . . . . . . . . . 5\nDivision 3 Amendments commencing on 1 May 2025\n6 Amendment of s 85 (Purpose of pt 9) . . . . . . . . . . . . . . . . . . . . . 6\n7 Amendment of s 86 (What is a home and a first home) . . . . . . . 6\n8 Amendment of s 86C (What is vacant land) . . . . . . . . . . . . . . . . 7\n9 Amendment of s 86D (What is a vacant land concession beneficiary) 7\n10 Amendment of s 90 (What is the dutiable value of residential land or\nvacant land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8\n11 Replacement of ch 2, pt 9, div 3, hdg (Concessions for homes and first\nhomes) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8\n12 Amendment of s 92 (Concession—first home) . . . . . . . . . . . . . . 8\n13 Insertion of new ss 92A and 92B . . . . . . . . . . . . . . . . . . . . . . . . . 9\n92A Concession—first home and new home—residential land 9\n92B Concession—first home—vacant land . . . . . . . . . . . 11\n14 Amendment of s 93 (Concession—mixed and multiple claims for\nindividuals—residential land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13\n\nContents\nRevenue Legislation Amendment Bill 2024\nPage 2\nAuthorised by the Parliamentary Counsel\n15 Replacement of s 93A (Concession—mixed and multiple claims for\nindividuals—vacant land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14\n93A Concession—mixed and multiple claims for individuals—first\nhome and new home . . . . . . . . . . . . . . . . . . . . . . . . . 14\n93B Concession—mixed and multiple claims for individuals—first\nhome—vacant land . . . . . . . . . . . . . . . . . . . . . . . . . . 18\n16 Amendment of s 94 (Concession—mixed and multiple claims for\ntrustees—residential land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20\n17 Amendment of s 94A (Concession—mixed and multiple claims for\ntrustees—vacant land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20\n18 Amendment of s 153 (Reassessment—disposal after occupation date for\nresidence) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21\n19 Amendment of s 154 (Reassessment—noncompliance with occupancy\nrequirements) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21\n20 Insertion of new s 154A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21\n154A Reassessment—decrease in dutiable value of residential\nvacant land . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21\n21 Amendment of s 155 (When transferees, lessees and vested persons for\nland must give notice for reassessment) . . . . . . . . . . . . . . . . . . . 23\n22 Insertion of new s 687 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23\n687 Application of concession provisions to transactions 24\n23 Amendment of sch 3 (Rates of duty on dutiable transactions and relevant\nacquisitions for landholder and corporate trustee duty) . . . . . . . 25\n24 Amendment of sch 4A (Amount of concession for transfer duty—first\nhome—residential land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25\n25 Omission of sch 4B (Amount of concession for transfer duty—first\nhome—vacant land) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26\n26 Amendment of sch 6 (Dictionary) . . . . . . . . . . . . . . . . . . . . . . . . 26\nPart 3 Amendment of Payroll Tax Act 1971\n27 Act amended . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26\n28 Amendment of s 14 (Exemption from payroll tax and mental health levy)\n. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26\n\n2024\nA Bill\nfor\nAn Act to amend the Duties Act 2001 and the Payroll Tax Act\n1971 for particular purposes\n\nPage 4\nAuthorised by the Parliamentary Counsel\n[s 1]\nRevenue Legislation Amendment Bill 2024\nPart 1 Preliminary\nThe Parliament of Queensland enacts—\nPart 1 Preliminary\n1 Short title\nThis Act may be cited as the Revenue Legislation Amendment\nAct 2024.\n2 Commencement\n(1) Part 2, other than division 3, is taken to have commenced on 6\nDecember 2024.\n(2) Part 2, division 3 commences on 1 May 2025.\n(3) Part 3 is taken to have commenced on 1 December 2024.\nPart 2 Amendment of Duties Act 2001\nDivision 1 Preliminary\n3 Act amended\nThis part amends the Duties Act 2001.\nDivision 2 Amendments taken to have\ncommenced on 6 December 2024\n4 Amendment of s 153 (Reassessment—disposal after\noccupation date for residence)\n(1) Section 153—\n1\n2\nClause 3\n4\n5\nClause 6\n7\n8\n9\n10\n11\n12\nClause 13\n14\n15\n16\nClause 17\n18\n19\n\nPage 5\nAuthorised by the Parliamentary Counsel\n[s 5]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\ninsert—\n(1C) Also, for subsection (1)(b)(ii), a transferee, lessee\nor vested person for land does not dispose of land\nonly by entering into a residential lease of part,\nbut not all, of the land.\n(2) Section 153—\ninsert—\n(4) In this section—\nresidential lease, of part of land, means a lease, or\nother grant of exclusive possession, of the part to\na person for use for residential purposes.\n5 Insertion of new ch 17, pt 30\nChapter 17—\ninsert—\nPart 30 Transitional provisions\nfor Revenue Legislation\nAmendment Act 2024\n686 Non-application of amendments of s 153 to\nresidential leases entered into before\ncommencement\nTo remove any doubt, it is declared that a\nreference in section 153(1C) to a residential lease\ndoes not include a reference to a lease entered\ninto, or other exclusive possession granted, before\nthe commencement.\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\nClause 12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n\nPage 6\nAuthorised by the Parliamentary Counsel\n[s 6]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nDivision 3 Amendments commencing on 1\nMay 2025\n6 Amendment of s 85 (Purpose of pt 9)\n(1) Section 85, heading, ‘pt 9’—\nomit, insert—\npart\n(2) Section 85(a), (b)(i) and (c), ‘or first home’—\nomit, insert—\n, first home or first home and new home\n7 Amendment of s 86 (What is a home and a first home)\n(1) Section 86, heading—\nomit, insert—\n86 What is a home, a first home and a new home\n(2) Section 86—\ninsert—\n(4) A person’s home is a new home if the home—\n(a) has not been previously occupied or sold as\na place of residence; or\n(b) is a substantially renovated home.\n(5) For subsection (4)(b), a person’s home is a\nsubstantially renovated home if—\n(a) the home is the subject of a dutiable\ntransaction that is—\n(i) the transfer, or agreement for the\ntransfer, of residential land; or\n(ii) the acquisition, mentioned in section\n85(b), of a lease of residential land; and\n1\n2\nClause 3\n4\n5\n6\n7\n8\n9\nClause 10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n\nPage 7\nAuthorised by the Parliamentary Counsel\n[s 8]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(b) the sale or lease of the home under the\ntransaction is, under the A New Tax System\n(Goods and Services Tax) Act 1999 (Cwlth),\na taxable supply as a sale or supply of new\nresidential premises as defined under\nsection 40-75(1)(b) of that Act; and\n(c) the home, as renovated, has not been\npreviously occupied or sold as a place of\nresidence.\n8 Amendment of s 86C (What is vacant land)\n(1) Section 86C, heading—\nomit, insert—\n86C What is vacant land and residential vacant\nland\n(2) Section 86C—\ninsert—\n(2) Residential vacant land is vacant land, or the part\nof vacant land, on which the residence is to be\nconstructed, and includes the curtilage that is to be\nattributable to the residence if the curtilage is to be\nused for residential purposes.\n9 Amendment of s 86D (What is a vacant land concession\nbeneficiary)\n(1) Section 86D(1)(b) and (2), ‘section 92 or 93A’—\nomit, insert—\na concession provision\n(2) Section 86D—\ninsert—\n(3) In this section—\nconcession provision means—\n1\n2\n3\n4\n5\n6\n7\n8\n9\nClause 10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\nClause 22\n23\n24\n25\n26\n27\n28\n29\n30\n\nPage 8\nAuthorised by the Parliamentary Counsel\n[s 10]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(a) section 92 or 93A as in force before the\ncommencement of this definition; or\n(b) section 92B or 93B.\n10 Amendment of s 90 (What is the dutiable value of\nresidential land or vacant land)\nSection 90, ‘or vacant land’—\nomit, insert—\n, vacant land or residential vacant land\n11 Replacement of ch 2, pt 9, div 3, hdg (Concessions for\nhomes and first homes)\nChapter 2, part 9, division 3, heading—\nomit, insert—\nDivision 3 Concessions for homes,\nfirst homes and new\nhomes\n12 Amendment of s 92 (Concession—first home)\n(1) Section 92, heading—\nomit, insert—\n92 Concession—first home other than new\nhome—residential land\n(2) Section 92(1)(a), ‘or vacant land’—\nomit.\n(3) Section 92(1), after paragraph (a)—\ninsert—\n(aa) the residence is not a new home; and\n(4) Section 92(1)(c)—\n1\n2\n3\nClause 4\n5\n6\n7\n8\nClause 9\n10\n11\n12\n13\n14\n15\nClause 16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n\nPage 9\nAuthorised by the Parliamentary Counsel\n[s 13]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nomit, insert—\n(c) either—\n(i) the unencumbered value of the\nresidential land is not more than\n$700,000; or\n(ii) if the unencumbered value of the\nresidential land is more than the\namount stated in subparagraph (i), the\nconsideration for the dutiable\ntransaction is at least the\nunencumbered value of the land.\n(5) Section 92(2)—\nomit, insert—\n(2) The transfer duty imposed on the dutiable\ntransaction is the amount of transfer duty worked\nout under section 91 less the concession amount\nstated in schedule 4A.\n(6) Section 92(3), ‘for land’—\nomit.\n(7) Section 92(4)—\nomit.\n13 Insertion of new ss 92A and 92B\nAfter section 92—\ninsert—\n92A Concession—first home and new\nhome—residential land\n(1) This section applies if—\n(a) a dutiable transaction is 1 of the following—\n(i) the transfer, or agreement for the\ntransfer, of residential land;\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\nClause 22\n23\n24\n25\n26\n27\n28\n29\n30\n\nPage 10\nAuthorised by the Parliamentary Counsel\n[s 13]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(ii) the acquisition, mentioned in section\n85(b), of a lease of residential land;\n(iii) the vesting, mentioned in section 85(c),\nof residential land; and\n(b) the residence is a new home; and\n(c) either of the following applies—\n(i) the transferees, lessees or vested\npersons are all individuals of at least 18\nyears of age on the day the liability for\ntransfer duty arises, the residence will\nbe the first home of all of the\ntransferees, lessees or vested persons\nand none of the transferees, lessees or\nvested persons are trustees;\n(ii) the transferees, lessees or vested\npersons are trustees of a trust, other\nthan a discretionary or unit trust, the\nbeneficiaries are individuals all of\nwhom are under a legal disability and\nthe residence would be the first home\nof all the beneficiaries if they were the\ntransferees or lessees of, or vested\npersons for, the residential land and\nother residential land or vacant land\npreviously the subject of a trust of\nwhich they were beneficiaries; and\n(d) the consideration for the dutiable transaction\nis at least the unencumbered value of the\nresidential land.\n(2) However, if subsection (1)(c)(ii) applies and 1 or\nmore of the beneficiaries is under a legal\ndisability only because the beneficiary is not at\nleast 18 years of age, this section applies in\nrelation to the dutiable transaction only if the\ncommissioner is satisfied there is no avoidance\nscheme in relation to the transaction.\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n35\n36\n\nPage 11\nAuthorised by the Parliamentary Counsel\n[s 13]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(3) The transfer duty imposed on the dutiable\ntransaction is the amount worked out by\ndeducting, from transfer duty on the dutiable\nvalue of the dutiable transaction, the amount\nworked out by applying the relevant rate to the\ndutiable value of the residential land.\n(4) For subsection (3), the relevant rate is the rate of\ntransfer duty stated in schedule 3, column 2\nopposite the dutiable value of the residential land\nas stated in schedule 3, column 1.\n(5) The commissioner may exempt a transferee,\nlessee or vested person from the requirement\nunder subsection (1)(c)(i) that the transferee,\nlessee or vested person be at least 18 years of age\nif the commissioner is satisfied there is no\navoidance scheme in relation to the dutiable\ntransaction.\n92B Concession—first home—vacant land\n(1) This section applies if—\n(a) a dutiable transaction is 1 of the following—\n(i) the transfer, or agreement for the\ntransfer, of vacant land;\n(ii) the acquisition, mentioned in section\n85(b), of a lease of vacant land;\n(iii) the vesting, mentioned in section 85(c),\nof vacant land; and\n(b) either of the following applies—\n(i) the transferees, lessees or vested\npersons are all individuals of at least 18\nyears of age on the day the liability for\ntransfer duty arises, the residence will\nbe the first home of all of the\ntransferees, lessees or vested persons\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n\nPage 12\nAuthorised by the Parliamentary Counsel\n[s 13]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nand none of the transferees, lessees or\nvested persons are trustees;\n(ii) the transferees, lessees or vested\npersons are trustees of a trust, other\nthan a discretionary or unit trust, the\nbeneficiaries are individuals all of\nwhom are under a legal disability and\nthe residence would be the first home\nof all the beneficiaries if they were the\ntransferees or lessees of, or vested\npersons for, the vacant land and other\nresidential land or vacant land\npreviously the subject of a trust of\nwhich they were beneficiaries; and\n(c) the consideration for the dutiable transaction\nis at least the unencumbered value of the\nvacant land.\n(2) However, if subsection (1)(b)(ii) applies and 1 or\nmore of the beneficiaries is under a legal\ndisability only because the beneficiary is not at\nleast 18 years of age, this section applies in\nrelation to the dutiable transaction only if the\ncommissioner is satisfied there is no avoidance\nscheme in relation to the transaction.\n(3) The transfer duty imposed on the dutiable\ntransaction is the amount worked out by\ndeducting, from transfer duty on the dutiable\nvalue of the dutiable transaction, the amount\nworked out by applying the relevant rate to the\ndutiable value of the residential vacant land.\n(4) For subsection (3), the relevant rate is the rate of\ntransfer duty stated in schedule 3, column 2\nopposite the dutiable value of the residential\nvacant land as stated in schedule 3, column 1.\n(5) The commissioner may exempt a transferee,\nlessee or vested person from the requirement\nunder subsection (1)(b)(i) that the transferee,\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n35\n36\n37\n\nPage 13\nAuthorised by the Parliamentary Counsel\n[s 14]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nlessee or vested person be at least 18 years of age\nif the commissioner is satisfied there is no\navoidance scheme in relation to the dutiable\ntransaction.\n14 Amendment of s 93 (Concession—mixed and multiple\nclaims for individuals—residential land)\n(1) Section 93, heading, ‘residential land’—\nomit, insert—\nhome, or first home other than new home\n(2) Section 93(1)(c), ‘or first home’—\nomit, insert—\n, or the first home but not a new home,\n(3) Section 93(2)(b), ‘or first home’—\nomit, insert—\n, or a first home but not a new home\n(4) Section 93—\ninsert—\n(3A) However, this section does not apply if—\n(a) a dutiable transaction is a relevant\ntransaction; and\n(b) the residence, or 1 or more of the residences,\nis the first home and new home of 1 or more\nof the transferees, 1 or more of the lessees or\n1 or more of the vested persons.\n(5) Section 93(8)(a)(ii), ‘section 92(2)(a)’—\nomit, insert—\nsection 92(2)\n(6) Section 93(8)(b)(ii), ‘all the relevant persons’—\nomit, insert—\n1\n2\n3\n4\nClause 5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29","sortOrder":0},{"sectionNumber":"retrieval-0002","sectionType":"document_chunk","heading":"Document excerpt 2","content":"Page 14\nAuthorised by the Parliamentary Counsel\n[s 15]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nall the transferees, all the lessees or all the vested\npersons\n15 Replacement of s 93A (Concession—mixed and multiple\nclaims for individuals—vacant land)\nSection 93A—\nomit, insert—\n93A Concession—mixed and multiple claims for\nindividuals—first home and new home\n(1) This section applies if—\n(a) a dutiable transaction is 1 of the following\n(each a relevant transaction)—\n(i) the transfer, or agreement for the\ntransfer, of residential land;\n(ii) the acquisition, mentioned in section\n85(b), of a lease of residential land;\n(iii) the vesting, mentioned in section 85(c),\nof residential land; and\n(b) there is more than 1 transferee or lessee of,\nor vested person for, the residential land to\nwhich the transaction relates; and\n(c) the residence is a new home; and\n(d) the residence is—\n(i) the first home of 1 or more of the\ntransferees, 1 or more of the lessees or\n1 or more of the vested persons and the\nhome of each other transferee, each\nother lessee or each other vested\nperson; or\n(ii) the first home of 1 or more of the\ntransferees, 1 or more of the lessees or\n1 or more of the vested persons and not\n1\n2\nClause 3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n\nPage 15\nAuthorised by the Parliamentary Counsel\n[s 15]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nthe home of all the transferees, all the\nlessees or all the vested persons; and\n(e) the relevant persons are individuals.\n(2) Also, this section applies if—\n(a) a dutiable transaction is a relevant\ntransaction in relation to residential land on\nwhich more than 1 residence is constructed;\nand\n(b) 1 or more of the residences is, for 1 or more\nof the transferees, 1 or more of the lessees or\n1 or more of the vested persons, a first home\nand a new home; and\n(c) the relevant persons are individuals.\n(3) In addition, this section applies if a dutiable\ntransaction is a relevant transaction in relation to\na part interest in residential land that, if it were in\nrelation to the whole interest in the land, would be\na dutiable transaction to which this section applies\nunder subsection (1) or (2), other than the\nrequirement for more than 1 transferee, lessee or\nvested person for the land.\n(4) A transferee, lessee or vested person for\nresidential land mentioned in subsection (1) or (2)\nis a relevant person if the residence is the home or\nfirst home of the transferee, lessee or vested\nperson.\n(5) For subsections (1)(d) and (2)(b), a residence may\nbe treated as the first home of a relevant person\nonly if the relevant person is at least 18 years of\nage on the day the liability for transfer duty arises.\n(6) The commissioner may exempt a relevant person\nfrom the requirement that the relevant person be\nat least 18 years of age if the commissioner is\nsatisfied there is no avoidance scheme in relation\nto the dutiable transaction.\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n35\n\nPage 16\nAuthorised by the Parliamentary Counsel\n[s 15]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(7) The transfer duty imposed on a dutiable\ntransaction to which this section applies under\nsubsection (1)(d)(i) or (2) is the total of—\n(a) for each relevant person, the amount worked\nout by applying the person’s interest to the\nconcessional duty; and\n(b) the amount worked out by deducting, from\ntransfer duty on the dutiable value of the\ntransaction, the amount worked out by\napplying the relevant rate to the lesser of the\nfollowing amounts (the relevant amount)—\n(i) the total of the value of each relevant\nperson’s interest;\n(ii) $350,000.\n(8) The transfer duty imposed on a dutiable\ntransaction to which this section applies under\nsubsection (1)(d)(ii) or (3) is the total of—\n(a) for each relevant person, the amount worked\nout by applying the person’s interest to the\nconcessional duty; and\n(b) the amount worked out by deducting, from\ntransfer duty on the dutiable value of the\ntransaction, the amount worked out by\napplying the relevant rate to the lesser of the\nfollowing amounts (also the relevant\namount)—\n(i) the total of the value of each relevant\nperson’s interest;\n(ii) the total of the relevant persons’\ninterests multiplied by $350,000.\n(9) For subsections (7) and (8)—\n(a) the concessional duty is the transfer duty\nthat—\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n\nPage 17\nAuthorised by the Parliamentary Counsel\n[s 15]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(i) if section 91 were to apply to the\ndutiable transaction—would be equal\nto the amount worked out under section\n91(3)(a) or the amount stated in section\n91(5)(a); or\n(ii) if section 92 were to apply to the\ndutiable transaction—would be equal\nto the amount worked out under section\n91(3)(a) or the amount stated in section\n91(5)(a) less the amount of the\ndeduction under section 92(2); or\n(iii) if section 92A were to apply to the\ndutiable transaction—would be equal\nto the amount worked out under section\n91(3)(a) or the amount stated in section\n91(5)(a) less the amount of transfer\nduty otherwise payable under section\n91; and\n(b) a relevant person’s interest is the proportion\nthat the share of the person in the whole\ndutiable property bears to the total of the\nshares of—\n(i) for a dutiable transaction to which this\nsection applies under subsection\n(3)—all the co-owners, or the owner,\non completion of the transaction; or\n(ii) for another dutiable transaction—all\nthe transferees or all the lessees or all\nthe vested persons; and\n(c) the value of a relevant person’s interest is\nworked out by applying the person’s interest\nto the dutiable value of the residential land;\nand\n(d) the relevant rate is the rate of transfer duty\nstated in schedule 3, column 2, opposite the\npart of the dutiable value of the dutiable\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n35\n36\n\nPage 18\nAuthorised by the Parliamentary Counsel\n[s 15]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\ntransaction attributable to the relevant\namount as stated in schedule 3, column 1.\n(10) For working out the concessional duty under\nsubsection (9)(a) for a relevant person to whom\nthis section applies under subsection (2), the\nresidential land mentioned in section 91 and\nschedule 4A is the part of the residential land\nrelating to the person’s home or first home.\n(11) For a relevant person to whom this section applies\nunder subsection (2), the residential land\nmentioned in subsection (9)(c) is the part of the\nresidential land relating to the person’s home or\nfirst home.\n93B Concession—mixed and multiple claims for\nindividuals—first home—vacant land\n(1) This section applies if—\n(a) a dutiable transaction is 1 of the following\n(each a relevant transaction)—\n(i) the transfer, or agreement for the\ntransfer, of vacant land;\n(ii) the acquisition, mentioned in section\n85(b), of a lease of vacant land;\n(iii) the vesting, mentioned in section 85(c),\nof vacant land; and\n(b) there is more than 1 transferee or lessee of,\nor vested person for, the vacant land to\nwhich the transaction relates; and\n(c) the residence, when constructed, will be the\nfirst home of 1 or more of the transferees, 1\nor more of the lessees or 1 or more of the\nvested persons (each relevant persons) but\nnot all the transferees, all the lessees or all\nthe vested persons; and\n(d) the relevant persons are individuals.\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n\nPage 19\nAuthorised by the Parliamentary Counsel\n[s 15]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(2) In addition, this section applies if a dutiable\ntransaction is a relevant transaction in relation to\na part interest in vacant land that, if it were in\nrelation to the whole interest in the land, would be\na dutiable transaction to which this section applies\nunder subsection (1), other than the requirement\nfor more than 1 transferee, lessee or vested person\nfor the land.\n(3) For subsection (1)(c), a residence may be treated\nas the first home of a relevant person only if the\nrelevant person is at least 18 years of age on the\nday the liability for transfer duty arises.\n(4) The commissioner may exempt a relevant person\nfrom the requirement that the relevant person be\nat least 18 years of age if the commissioner is\nsatisfied there is no avoidance scheme in relation\nto the dutiable transaction.\n(5) The transfer duty imposed on a dutiable\ntransaction to which this section applies under\nsubsection (1) is the amount worked out by\ndeducting, from transfer duty on the dutiable\nvalue of the transaction, the total amount worked\nout by, for each relevant person, applying the\nrelevant person’s interest to transfer duty on the\ndutiable value of the residential vacant land.\n(6) The transfer duty imposed on a dutiable\ntransaction to which this section applies under\nsubsection (2) is the amount worked out by\ndeducting, from transfer duty on the dutiable\nvalue of the transaction, the amount worked out\nby applying the relevant rate to the relevant\nperson’s interest in the dutiable value of the\nresidential vacant land.\n(7) For subsections (5) and (6)—\n(a) a relevant person’s interest is the proportion\nthat the share of the person in the whole\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n35\n36\n\nPage 20\nAuthorised by the Parliamentary Counsel\n[s 16]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\ndutiable property bears to the total of the\nshares of—\n(i) for a dutiable transaction to which this\nsection applies under subsection\n(1)—all the transferees, all the lessees\nor all the vested persons; or\n(ii) for a dutiable transaction to which this\nsection applies under subsection\n(2)—all the co-owners, or the owner,\non completion of the transaction; and\n(b) the relevant rate is the rate of transfer duty\nstated in schedule 3, column 2 opposite the\ndutiable value of the dutiable transaction\nattributable to the relevant person’s interest\nin the residential vacant land as stated in\nschedule 3, column 1.\n16 Amendment of s 94 (Concession—mixed and multiple\nclaims for trustees—residential land)\n(1) Section 94(2), ‘Section 93 applies’—\nomit, insert—\nSections 93 and 93A apply\n(2) Section 94(3), ‘section 93(4) and (5)’—\nomit, insert—\nsections 93(4) and (5) and 93A(5) and (6) apply\n17 Amendment of s 94A (Concession—mixed and multiple\nclaims for trustees—vacant land)\n(1) Section 94A(2), ‘Section 93A’—\nomit, insert—\nSection 93B\n(2) Section 94A(3), ‘section 93A(3) and (4)’—\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\nClause 17\n18\n19\n20\n21\n22\n23\n24\nClause 25\n26\n27\n28\n29\n30\n\nPage 21\nAuthorised by the Parliamentary Counsel\n[s 18]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\nomit, insert—\nsection 93B(3) and (4)\n18 Amendment of s 153 (Reassessment—disposal after\noccupation date for residence)\n(1) Section 153(1)(a), ‘93 or 93A’—\nomit, insert—\n92A, 92B, 93, 93A or 93B\n(2) Section 153(1)(b)(iii), ‘or first home’—\nomit, insert—\n, first home or first home and new home\n19 Amendment of s 154 (Reassessment—noncompliance\nwith occupancy requirements)\n(1) Section 154(1)(a), ‘93 or 93A’—\nomit, insert—\n92A, 92B, 93, 93A or 93B\n(2) Section 154(5), definition home or vacant land lease,\nparagraph (a), ‘or first home’—\nomit, insert—\n, first home or first home and new home\n20 Insertion of new s 154A\nAfter section 154—\ninsert—\n154A Reassessment—decrease in dutiable value\nof residential vacant land\n(1) This section applies if—\n1\n2\nClause 3\n4\n5\n6\n7\n8\n9\n10\nClause 11\n12\n13\n14\n15\n16\n17\n18\n19\nClause 20\n21\n22\n23\n24\n25\n\nPage 22\nAuthorised by the Parliamentary Counsel\n[s 20]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(a) transfer duty on a dutiable transaction that is\n1 of the following is assessed on the basis of\na concession under section 92B or 93B—\n(i) the transfer, or agreement for the\ntransfer, of vacant land;\n(ii) the acquisition, mentioned in section\n85(b), of a lease of vacant land;\n(iii) the vesting, mentioned in section 85(c),\nof vacant land; and\n(b) when the residence is constructed—\n(i) for transfer duty assessed on the basis\nthat all of the vacant land is residential\nvacant land—only part of the vacant\nland is residential land; or\n(ii) for transfer duty assessed on the basis\nthat part of the vacant land is\nresidential vacant land—the part of the\nvacant land that is residential land is\ndifferent to the part of the vacant land\non which the transfer duty was\nassessed; and\n(c) the amount of transfer duty that would have\nbeen imposed on the transaction if the\nresidential land had been used for assessing\nthe concession is more than the amount of\ntransfer duty assessed on the transaction.\n(2) The commissioner must make a reassessment to\nimpose transfer duty on the dutiable transaction\non the basis that a reference in section 92B or 93B\nto residential vacant land were a reference to the\nresidential land.\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n\nPage 23\nAuthorised by the Parliamentary Counsel\n[s 21]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n21 Amendment of s 155 (When transferees, lessees and\nvested persons for land must give notice for\nreassessment)\n(1) Section 155(1), ‘93 or 93A’—\nomit, insert—\n92A, 92B, 93, 93A or 93B\n(2) Section 155(2), ‘each transferee, lessee or vested person’—\nomit, insert—\nthe notifier\n(3) Section 155(3), definition notifiable event—\ninsert—\n(d) a transferee, lessee or vested person for the\nvacant land in relation to a relevant\ntransaction becomes aware, or ought\nreasonably to be aware, of the matters\nmentioned in section 154A(1)(b) and (c) for\nthe vacant land in relation to the transaction.\n(4) Section 155(3)—\ninsert—\nnotifier, for residential land or vacant land in\nrelation to a relevant transaction, means—\n(a) for a notifiable event mentioned in the\ndefinition notifiable event, paragraph\n(d)—the transferee, lessee or vested person\nmentioned in the paragraph; or\n(b) for another notifiable event—each\ntransferee, lessee or vested person for the\nland in relation to the relevant transaction.\n22 Insertion of new s 687\nAfter section 686, as inserted by this Act—\ninsert—\nClause 1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\nClause 29\n30\n31\n\nPage 24\nAuthorised by the Parliamentary Counsel\n[s 22]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n687 Application of concession provisions to\ntransactions\n(1) The former concession provisions apply in\nrelation to a dutiable transaction if liability for\ntransfer duty arose before 1 May 2025.\n(2) Subject to subsection (3), the new concession\nprovisions apply in relation to a dutiable\ntransaction if liability for transfer duty arises on or\nafter 1 May 2025.\n(3) Despite the Revenue Legislation Amendment Act\n2024, the former concession provisions apply in\nrelation to a dutiable transaction if—\n(a) the transaction is the transfer, or agreement\nfor the transfer, of residential land or vacant\nland; and\n(b) the land is transferred, or the agreement is\nmade, on or after 1 May 2025; and\n(c) any of the following applies—\n(i) the transaction replaces a transfer, or\nagreement for transfer, that included\nthe land and was made before 1 May\n2025;\n(ii) the transferee had an option to\npurchase the land, or the transferor had\nan option to require the transferee to\npurchase the land, granted before 1\nMay 2025 and exercised on or after 1\nMay 2025;\n(iii) another arrangement was made before\n1 May 2025 the sole or main purpose\nof which was to defer the making of the\ntransfer or agreement until 1 May 2025\nor later so the new concession\nprovisions would apply in relation to\nthe transaction.\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28\n29\n30\n31\n32\n33\n34\n35\n\nPage 25\nAuthorised by the Parliamentary Counsel\n[s 23]\nRevenue Legislation Amendment Bill 2024\nPart 2 Amendment of Duties Act 2001\n(4) In this section—\nformer concession provisions means chapter 2,\nparts 9 and 14, division 1 and schedules 4A and\n4B as in force from time to time before the\ncommencement.\nnew concession provisions means chapter 2, parts\n9 and 14, division 1 and schedule 4A as in force\nfrom the commencement.\n23 Amendment of sch 3 (Rates of duty on dutiable\ntransactions and relevant acquisitions for landholder and\ncorporate trustee duty)\nSchedule 3, authorising provision, ‘92, 93’—\nomit, insert—\n92A, 92B, 93, 93A, 93B\n24 Amendment of sch 4A (Amount of concession for\ntransfer duty—first home—residential land)\n(1) Schedule 4A, heading, after ‘first home’—\ninsert—\nother than new home\n(2) Schedule 4A, authorising provision, ‘sections 92(2)(a)’—\nomit, insert—\nsections 92(2)\n(3) Schedule 4A, ‘chapter 2, part 9, division 3’—\nomit, insert—\nsection 91\n(4) Schedule 4A, ‘that division’—\nomit, insert—\nthat section\n1\n2\n3\n4\n5\n6\n7\n8\nClause 9\n10\n11\n12\n13\n14\nClause 15\n16\n17\n18\n19\n20\n21\n22\n23\n24\n25\n26\n27\n28","sortOrder":1},{"sectionNumber":"retrieval-0003","sectionType":"document_chunk","heading":"Document excerpt 3","content":"Page 26\nAuthorised by the Parliamentary Counsel\n[s 25]\nRevenue Legislation Amendment Bill 2024\nPart 3 Amendment of Payroll Tax Act 1971\n25 Omission of sch 4B (Amount of concession for transfer\nduty—first home—vacant land)\nSchedule 4B—\nomit.\n26 Amendment of sch 6 (Dictionary)\n(1) Schedule 6—\ninsert—\nnew home see section 86(4).\nresidential vacant land see section 86C(2).\n(2) Schedule 6, definition vacant land, ‘section 86C’—\nomit, insert—\nsection 86C(1)\nPart 3 Amendment of Payroll Tax Act\n1971\n27 Act amended\nThis part amends the Payroll Tax Act 1971.\n28 Amendment of s 14 (Exemption from payroll tax and\nmental health levy)\n(1) Section 14(2)—\ninsert—\n(m) by a medical practice to a general\npractitioner.\n(2) Section 14(9)—\ninsert—\ngeneral practitioner means—\nClause 1\n2\n3\n4\nClause 5\n6\n7\n8\n9\n10\n11\n12\n13\n14\nClause 15\n16\nClause 17\n18\n19\n20\n21\n22\n23\n24\n25\n\nPage 27\nAuthorised by the Parliamentary Counsel\n[s 28]\nRevenue Legislation Amendment Bill 2024\nPart 3 Amendment of Payroll Tax Act 1971\n(a) a person registered under the Health\nPractitioner Regulation National Law to\npractise in the medical profession in the\nspecialty of general practice; or\n(b) a medical practitioner specified in the\nHealth Insurance (General Medical\nServices Table) Regulations 2021 (Cwlth),\nschedule 1, part 1, clause 1.1.3; or\n(c) a person—\n(i) who is a prescribed medical\npractitioner within the meaning of the\nHealth Insurance (General Medical\nServices Table) Regulations 2021\n(Cwlth); and\n(ii) who predominantly provides services\nof the kind ordinarily provided by a\ngeneral practitioner mentioned in\nparagraph (a).\nmedical practice means an entity, other than a\nhospital, carrying on a business at which services\nof the kind ordinarily provided by a person\nmentioned in the definition general practitioner,\nparagraph (a) are provided, whether or not the\nservices are provided from particular premises.\n© State of Queensland 2024\n1\n2\n3\n4\n5\n6\n7\n8\n9\n10\n11\n12\n13\n14\n15\n16\n17\n18\n19\n20\n21\n22\n23\n24","sortOrder":2}],"analysis":{"summary":{"status_summary":"The Revenue Legislation Amendment Bill 2024 received royal assent, with payroll tax amendments effective from 1 December 2024, certain duties amendments effective from 6 December 2024, and the main first home concession reforms effective from 1 May 2025.","complexity_score":6,"likely_questions":["How do I determine if a home qualifies as a 'new home' under these new rules?","What is the difference in duty savings between the existing first home concession and the new 'first home and new home' concession?","If I buy vacant land to build a home, which concession applies and what are the conditions?","When exactly do the changes to first home concessions take effect and do they apply to contracts signed before 1 May 2025?","Does the payroll tax exemption for payments to general practitioners apply to all types of medical practices or only those providing primary care?","What happens if I obtain a concession for vacant land but later build a house that uses less of the land than expected?"],"complexity_factors":["Multiple commencement dates for different parts of the same bill (6 Dec 2024, 1 Dec 2024, 1 May 2025)","Introduction of a new concession category ('first home and new home') with a separate calculation method compared to existing concessions","Complex definitions for 'new home', 'substantially renovated home', and 'residential vacant land' that rely on GST law criteria","Transitional rules with anti-avoidance provisions that require analysis of transaction timing and prior arrangements","New reassessment obligations for vacant land buyers when the actual residential area differs from the concession assumption","Interplay between multiple sections for mixed and multiple claimant concessions, now split across four different sections (92, 92A, 93A, 93B)"],"plain_english_summary":"The Bill overhauls Queensland duty concessions: from 1 May 2025 it creates a more generous concession for buyers of “new homes” (new or substantially renovated residences) while narrowing the existing first‑home concession to non‑new homes and restructuring vacant‑land rules, with anti‑avoidance and transitional rules to prevent strategic deferral. Buyers and conveyancers must check which regime applies.\n\nSeparately, from 1 December 2024 payments by medical practices to general practitioners are exempt from payroll tax and the mental health levy, lowering tax costs for primary care."},"flash_summary":{"complexity_score":7,"scope_assessment":{"changed":true,"description":"Yes. The Bill expands scope beyond a narrow technical tidy-up of the Duties Act: it restructures how first-home concessions operate (introducing specific concessions for 'new homes' and for residential vacant land), reworks mixed/multiple claimant rules, inserts new reassessment powers tied to later land use changes, and sets detailed transitional rules governing which concession regime applies. It also extends beyond duties by amending the Payroll Tax Act to add a payroll-tax exemption for medical practices paying general practitioners. Together these changes broaden the policy and administrative footprint of the legislation compared with a simple amendment limited to one area of revenue law."},"complexity_factors":["Multiple new and replacement sections introduced (notably ss 92A, 92B, 93A, 93B, 154A and s 687) introducing fresh mechanics","Several new defined terms and altered definitions (new home in s 86(4)–(5); residential vacant land in s 86C(2); additions to Schedule 6)","Nested conditional eligibility rules for individuals vs trustees and for mixed/multiple claims (complex apportionment formulas in ss 93A(7)–(11) and 93B(5)–(7))","Transitional provisions with multi-part tests and carve-outs (new s 687(3)(i)–(iii)) that affect which regime applies","Cross-references to schedules and other Acts (GST treatment under Commonwealth GST Act is imported for 'new home' determination, schs 3 and 4A changes)","Administrative discretion and anti-avoidance conditions (commissioner satisfaction test repeated across several sections) increasing discretionary decision points","New reassessment triggers tied to later changes in land use/area (s 154A) creating state-triggered retroactive calculations","Removal of a schedule (sch 4B) and reallocation of concession mechanics increases interpretive mapping between old and new rules","Notification regime changes (amendments to s 155) complicate compliance flows and who must notify","Interplay between duty liability timing (various commencement dates in s 2) and transitional rules increases procedural complexity"],"plain_english_summary":"**What this Bill changes, mechanically**\n\n- It changes Queensland stamp duty (transfer duty) rules in the Duties Act 2001 and inserts a set of new and revised concessions for people buying homes, first homes and new homes (newly built or substantially renovated homes). Key additions are new sections 92A and 92B (concessions for new homes and for vacant land that will become a first home) and replacement / redistribution of the existing mixed-claim rules into sections 93A and 93B (see ss 12–16, 20).  \n- It refines the definitions used to decide eligibility: introduces \"new home\" (s 86(4)—includes GST-taxable new residential premises or substantially renovated homes) and \"residential vacant land\" (s 86C(2)).  \n- It changes how concessions are calculated and apportioned when multiple people or trustees are involved (see replacement ss 93A, 93B and amendments to ss 93–94A). There are specific formulas for splitting concessional amounts among multiple transferees or multiple residences on a property (ss 93A(7)–(11), 93B(5)–(7)). \n- It updates reassessment and notification rules so reassessments can be made where occupancy/usage or the land area used for assessment changes (new s 154A; amendments to ss 153, 154, 155). This captures cases where land assessed as \"residential vacant land\" later proves to be smaller or differently located than assessed when the concession was granted. The commissioner is required to reassess in those situations (s 154A).  \n- It includes transitional rules about which concession regime applies to transactions straddling commencement dates, and preserves the former concessions for many transactions where liability for duty arose before 1 May 2025 (new s 687 and s 686) while setting out exceptions (s 687(3)).  \n- It removes the separate schedule that previously set the amount of concession for first-home vacant land (Schedule 4B is omitted) and consolidates the concession mechanics into the new provisions and Schedule 4A adjustments (see schs 3, 4A and omission of sch 4B).  \n- Separately, it amends the Payroll Tax Act 1971 to explicitly exempt payroll tax (and the mental health levy) on wages paid by a \"medical practice\" to a general practitioner (new s 14 amendments; definitions inserted at s 28).  \n\n**Who is affected**\n\n- Buyers of residential property in Queensland, especially: first-home buyers, purchasers of newly built homes or substantially renovated homes, and people who buy vacant land to build their first home. The rules also affect co-owners and co-purchasers, trustees and beneficiaries involved in these transactions. (See ss 86, 92–93B, 94–94A.)\n- Conveyancers, valuers and property lawyers who must apply the new definitions and apportionment formulas when calculating duty and concessions.  \n- The Queensland Revenue commissioner (who gains discretion to grant exemptions from age requirements and assess avoidance schemes; see ss 92A(5), 92A(2), 92B(5), 92B(2), 93A(6) and similar).  \n- Medical practices and general practitioners in Queensland – they get a payroll tax/mental health levy exemption for payments from a medical practice to a general practitioner (amendment to s 14 of the Payroll Tax Act 1971).  \n\n**Why it matters (claimed purpose, then practical effects and trade‑offs)**\n\n- Claimed purpose (from the text): to refine, target and in some cases broaden the existing first-home and small residential concession rules — for example, by creating specific concessions for \"new homes\" and specifying how concessions work where multiple persons or trustees are involved — and to give GPs an explicit payroll tax exemption.  \n\n- Practical effects and incentive/cost trade-offs:\n  - Who pays: the State foregoes some transfer duty revenue when concessions apply. Those savings are concentrated on intended recipients (first-home and new-home buyers). The cost is fiscal (reduced stamp duty receipts) and could be partially shifted into different rate structures or into other budget choices. (See ss 92A, 92B, sch 4A amendments.)\n  - Timing and structuring incentives: the transitional rules (s 687) create strong incentives to complete or lock in transactions before 1 May 2025 to preserve the former concession regime. That in turn creates a known window for front‑loading transactions, options and related arrangements that can be used to preserve older concessions (s 687(3)(i)–(iii)).\n  - Ownership and arrangements: the detailed apportionment rules and eligibility conditions push purchasers and trustees to structure ownership (individuals versus trustees, co-ownership shares) to qualify for or maximise concessions. The commissioner’s power to refuse age‑related exceptions or to treat arrangements as avoidance schemes introduces administrative discretion and compliance uncertainty (ss 92A(5), 92B(5), 93A(6)).\n  - Compliance and administrative burden: the new definitions (\"new home\", \"residential vacant land\"), apportionment formulas and reassessment triggers increase the information parties must keep and disclose — e.g. evidence about GST treatment of a sale (s 86(5)(b)), construction details, parts of land becoming residential, and notification of notifiable events (amendments to s 155). Conveyancers and duty officers will need to implement new calculations and notification flows.  \n  - Avoidance and enforcement: the Bill adds explicit reassessment power where the residential portion of a vacant parcel is different at time of construction (s 154A). The commissioner has affirmative powers to reassess and to refuse exemptions where an avoidance scheme is suspected — which increases compliance risk for taxpayers and may generate disputes and appeals.  \n  - Market effects and substitution: because concessions depend on status (new home vs not, vacant land later made residential, individuals vs trustees), potential buyers may change whether they buy vacant land or completed dwellings, and how they hold title. That can affect demand composition (e.g. short-term increase in purchases of vacant lots before rules change; restructuring of trust arrangements).  \n\n**Concrete behavioural rules (who decides, who pays, key thresholds)**\n\n- The commissioner administers and enforces the schemes and has discretion to exempt minors from age requirements or to refuse where there is an avoidance scheme (see ss 92A(5), 92A(2), 92B(5), 92B(2), 93A(6)).  \n- Eligibility thresholds: for the non-new-home first-home concession, an \"unencumbered value\" threshold of $700,000 is specified for residential land (amendment to s 92(1)(c)(i)). For mixed claimant rules, $350,000 is used as a cap in some apportionment calculations (s 93A(7)(b)(ii)).  \n- Transactions in scope: the concession provisions apply to transfers (and agreements for transfer), lease acquisitions referred to in s 85(b), and vestings referred to in s 85(c) (see ss 92A(1)(a), 92B(1)(a), 93A(1)(a)).  \n- Reassessments: where vacant land was assessed as concessional residential vacant land but on construction a different or smaller residential area exists, the commissioner must reassess and impose the correct duty (new s 154A).  \n\n**Implementation risks and likely friction points**\n\n- Definitional litigation: whether a property is a \"new home\" (GST taxable supply criteria under section 40-75(1)(b) of the Commonwealth GST Act) or \"substantially renovated\" (s 86(5)) will raise factual disputes involving builders, GST treatment and timing.  \n- Valuation and apportionment disputes: calculating \"unencumbered value\" and allocating share interests for mixed-claim transactions (ss 93A(9)(c), 93B(7)(a)) will generate valuation questions and possible disagreements with Revenue.  \n- Transitional gaming: parties can create options or replacement transactions before 1 May 2025 to preserve old concessions; revenue administration will need clear audit focus on arrangements that defer transfers with the primary aim of preserving older concessions (s 687(3)(iii)).  \n- Increased administrative workload: new notification duties (s 155 amendments), reassessment obligations (s 154A) and commissioner discretion will require systems and staff adjustments in Revenue.  \n\n**Key sections to look up when applying the law**\n\n- New concessions and how they work: ss 92A, 92B, 93A, 93B.  \n- Definitions affecting eligibility: ss 86 (new home), 86C (residential vacant land), schedule 6 changes.  \n- Reassessment and notification rules: ss 153–155 and new s 154A; transitional and application rules: ss 686–687.  \n- Payroll tax exemption for general practitioners: amendment to s 14 of the Payroll Tax Act 1971 (Part 3, s 28).\n\n(References in parentheses identify the new or amended provisions in the Bill; see the inserted and amended sections described above.)"}},"importantCases":[],"_links":{"self":"/api/acts/revenue-legislation-amendment-bill-2024","history":"/api/acts/revenue-legislation-amendment-bill-2024/history","analysis":"/api/acts/revenue-legislation-amendment-bill-2024/analysis","conflicts":"/api/acts/revenue-legislation-amendment-bill-2024/conflicts","importantCases":"/api/acts/revenue-legislation-amendment-bill-2024/important-cases","documents":"/api/acts/revenue-legislation-amendment-bill-2024/documents"}}