2024
A Bill
for
An Act to amend the Duties Act 2001 and the Payroll Tax Act
1971 for particular purposes
Page 4
Authorised by the Parliamentary Counsel
[s 1]
Revenue Legislation Amendment Bill 2024
Part 1 Preliminary
The Parliament of Queensland enacts—
Part 1 Preliminary
1 Short title
This Act may be cited as the Revenue Legislation Amendment
Act 2024.
2 Commencement
(1) Part 2, other than division 3, is taken to have commenced on 6
December 2024.
(2) Part 2, division 3 commences on 1 May 2025.
(3) Part 3 is taken to have commenced on 1 December 2024.
Part 2 Amendment of Duties Act 2001
Division 1 Preliminary
3 Act amended
This part amends the Duties Act 2001.
Division 2 Amendments taken to have
commenced on 6 December 2024
4 Amendment of s 153 (Reassessment—disposal after
occupation date for residence)
(1) Section 153—
1
2
Clause 3
4
5
Clause 6
7
8
9
10
11
12
Clause 13
14
15
16
Clause 17
18
19
Page 5
Authorised by the Parliamentary Counsel
[s 5]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
insert—
(1C) Also, for subsection (1)(b)(ii), a transferee, lessee
or vested person for land does not dispose of land
only by entering into a residential lease of part,
but not all, of the land.
(2) Section 153—
insert—
(4) In this section—
residential lease, of part of land, means a lease, or
other grant of exclusive possession, of the part to
a person for use for residential purposes.
5 Insertion of new ch 17, pt 30
Chapter 17—
insert—
Part 30 Transitional provisions
for Revenue Legislation
Amendment Act 2024
686 Non-application of amendments of s 153 to
residential leases entered into before
commencement
To remove any doubt, it is declared that a
reference in section 153(1C) to a residential lease
does not include a reference to a lease entered
into, or other exclusive possession granted, before
the commencement.
1
2
3
4
5
6
7
8
9
10
11
Clause 12
13
14
15
16
17
18
19
20
21
22
23
24
25
Page 6
Authorised by the Parliamentary Counsel
[s 6]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
Division 3 Amendments commencing on 1
May 2025
6 Amendment of s 85 (Purpose of pt 9)
(1) Section 85, heading, ‘pt 9’—
omit, insert—
part
(2) Section 85(a), (b)(i) and (c), ‘or first home’—
omit, insert—
, first home or first home and new home
7 Amendment of s 86 (What is a home and a first home)
(1) Section 86, heading—
omit, insert—
86 What is a home, a first home and a new home
(2) Section 86—
insert—
(4) A person’s home is a new home if the home—
(a) has not been previously occupied or sold as
a place of residence; or
(b) is a substantially renovated home.
(5) For subsection (4)(b), a person’s home is a
substantially renovated home if—
(a) the home is the subject of a dutiable
transaction that is—
(i) the transfer, or agreement for the
transfer, of residential land; or
(ii) the acquisition, mentioned in section
85(b), of a lease of residential land; and
1
2
Clause 3
4
5
6
7
8
9
Clause 10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
Page 7
Authorised by the Parliamentary Counsel
[s 8]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(b) the sale or lease of the home under the
transaction is, under the A New Tax System
(Goods and Services Tax) Act 1999 (Cwlth),
a taxable supply as a sale or supply of new
residential premises as defined under
section 40-75(1)(b) of that Act; and
(c) the home, as renovated, has not been
previously occupied or sold as a place of
residence.
8 Amendment of s 86C (What is vacant land)
(1) Section 86C, heading—
omit, insert—
86C What is vacant land and residential vacant
land
(2) Section 86C—
insert—
(2) Residential vacant land is vacant land, or the part
of vacant land, on which the residence is to be
constructed, and includes the curtilage that is to be
attributable to the residence if the curtilage is to be
used for residential purposes.
9 Amendment of s 86D (What is a vacant land concession
beneficiary)
(1) Section 86D(1)(b) and (2), ‘section 92 or 93A’—
omit, insert—
a concession provision
(2) Section 86D—
insert—
(3) In this section—
concession provision means—
1
2
3
4
5
6
7
8
9
Clause 10
11
12
13
14
15
16
17
18
19
20
21
Clause 22
23
24
25
26
27
28
29
30
Page 8
Authorised by the Parliamentary Counsel
[s 10]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(a) section 92 or 93A as in force before the
commencement of this definition; or
(b) section 92B or 93B.
10 Amendment of s 90 (What is the dutiable value of
residential land or vacant land)
Section 90, ‘or vacant land’—
omit, insert—
, vacant land or residential vacant land
11 Replacement of ch 2, pt 9, div 3, hdg (Concessions for
homes and first homes)
Chapter 2, part 9, division 3, heading—
omit, insert—
Division 3 Concessions for homes,
first homes and new
homes
12 Amendment of s 92 (Concession—first home)
(1) Section 92, heading—
omit, insert—
92 Concession—first home other than new
home—residential land
(2) Section 92(1)(a), ‘or vacant land’—
omit.
(3) Section 92(1), after paragraph (a)—
insert—
(aa) the residence is not a new home; and
(4) Section 92(1)(c)—
1
2
3
Clause 4
5
6
7
8
Clause 9
10
11
12
13
14
15
Clause 16
17
18
19
20
21
22
23
24
25
26
Page 9
Authorised by the Parliamentary Counsel
[s 13]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
omit, insert—
(c) either—
(i) the unencumbered value of the
residential land is not more than
$700,000; or
(ii) if the unencumbered value of the
residential land is more than the
amount stated in subparagraph (i), the
consideration for the dutiable
transaction is at least the
unencumbered value of the land.
(5) Section 92(2)—
omit, insert—
(2) The transfer duty imposed on the dutiable
transaction is the amount of transfer duty worked
out under section 91 less the concession amount
stated in schedule 4A.
(6) Section 92(3), ‘for land’—
omit.
(7) Section 92(4)—
omit.
13 Insertion of new ss 92A and 92B
After section 92—
insert—
92A Concession—first home and new
home—residential land
(1) This section applies if—
(a) a dutiable transaction is 1 of the following—
(i) the transfer, or agreement for the
transfer, of residential land;
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
Clause 22
23
24
25
26
27
28
29
30
Page 10
Authorised by the Parliamentary Counsel
[s 13]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(ii) the acquisition, mentioned in section
85(b), of a lease of residential land;
(iii) the vesting, mentioned in section 85(c),
of residential land; and
(b) the residence is a new home; and
(c) either of the following applies—
(i) the transferees, lessees or vested
persons are all individuals of at least 18
years of age on the day the liability for
transfer duty arises, the residence will
be the first home of all of the
transferees, lessees or vested persons
and none of the transferees, lessees or
vested persons are trustees;
(ii) the transferees, lessees or vested
persons are trustees of a trust, other
than a discretionary or unit trust, the
beneficiaries are individuals all of
whom are under a legal disability and
the residence would be the first home
of all the beneficiaries if they were the
transferees or lessees of, or vested
persons for, the residential land and
other residential land or vacant land
previously the subject of a trust of
which they were beneficiaries; and
(d) the consideration for the dutiable transaction
is at least the unencumbered value of the
residential land.
(2) However, if subsection (1)(c)(ii) applies and 1 or
more of the beneficiaries is under a legal
disability only because the beneficiary is not at
least 18 years of age, this section applies in
relation to the dutiable transaction only if the
commissioner is satisfied there is no avoidance
scheme in relation to the transaction.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
Page 11
Authorised by the Parliamentary Counsel
[s 13]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
(3) The transfer duty imposed on the dutiable
transaction is the amount worked out by
deducting, from transfer duty on the dutiable
value of the dutiable transaction, the amount
worked out by applying the relevant rate to the
dutiable value of the residential land.
(4) For subsection (3), the relevant rate is the rate of
transfer duty stated in schedule 3, column 2
opposite the dutiable value of the residential land
as stated in schedule 3, column 1.
(5) The commissioner may exempt a transferee,
lessee or vested person from the requirement
under subsection (1)(c)(i) that the transferee,
lessee or vested person be at least 18 years of age
if the commissioner is satisfied there is no
avoidance scheme in relation to the dutiable
transaction.
92B Concession—first home—vacant land
(1) This section applies if—
(a) a dutiable transaction is 1 of the following—
(i) the transfer, or agreement for the
transfer, of vacant land;
(ii) the acquisition, mentioned in section
85(b), of a lease of vacant land;
(iii) the vesting, mentioned in section 85(c),
of vacant land; and
(b) either of the following applies—
(i) the transferees, lessees or vested
persons are all individuals of at least 18
years of age on the day the liability for
transfer duty arises, the residence will
be the first home of all of the
transferees, lessees or vested persons
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
Page 12
Authorised by the Parliamentary Counsel
[s 13]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
and none of the transferees, lessees or
vested persons are trustees;
(ii) the transferees, lessees or vested
persons are trustees of a trust, other
than a discretionary or unit trust, the
beneficiaries are individuals all of
whom are under a legal disability and
the residence would be the first home
of all the beneficiaries if they were the
transferees or lessees of, or vested
persons for, the vacant land and other
residential land or vacant land
previously the subject of a trust of
which they were beneficiaries; and
(c) the consideration for the dutiable transaction
is at least the unencumbered value of the
vacant land.
(2) However, if subsection (1)(b)(ii) applies and 1 or
more of the beneficiaries is under a legal
disability only because the beneficiary is not at
least 18 years of age, this section applies in
relation to the dutiable transaction only if the
commissioner is satisfied there is no avoidance
scheme in relation to the transaction.
(3) The transfer duty imposed on the dutiable
transaction is the amount worked out by
deducting, from transfer duty on the dutiable
value of the dutiable transaction, the amount
worked out by applying the relevant rate to the
dutiable value of the residential vacant land.
(4) For subsection (3), the relevant rate is the rate of
transfer duty stated in schedule 3, column 2
opposite the dutiable value of the residential
vacant land as stated in schedule 3, column 1.
(5) The commissioner may exempt a transferee,
lessee or vested person from the requirement
under subsection (1)(b)(i) that the transferee,
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
Page 13
Authorised by the Parliamentary Counsel
[s 14]
Revenue Legislation Amendment Bill 2024
Part 2 Amendment of Duties Act 2001
lessee or vested person be at least 18 years of age
if the commissioner is satisfied there is no
avoidance scheme in relation to the dutiable
transaction.
14 Amendment of s 93 (Concession—mixed and multiple
claims for individuals—residential land)
(1) Section 93, heading, ‘residential land’—
omit, insert—
home, or first home other than new home
(2) Section 93(1)(c), ‘or first home’—
omit, insert—
, or the first home but not a new home,
(3) Section 93(2)(b), ‘or first home’—
omit, insert—
, or a first home but not a new home
(4) Section 93—
insert—
(3A) However, this section does not apply if—
(a) a dutiable transaction is a relevant
transaction; and
(b) the residence, or 1 or more of the residences,
is the first home and new home of 1 or more
of the transferees, 1 or more of the lessees or
1 or more of the vested persons.
(5) Section 93(8)(a)(ii), ‘section 92(2)(a)’—
omit, insert—
section 92(2)
(6) Section 93(8)(b)(ii), ‘all the relevant persons’—
omit, insert—
1
2
3
4
Clause 5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29