Higher Threshold for Duty Exemptions and Updated Terminology for Payroll Tax
Treasury and Revenue Legislation Amendment Bill 2023
1st House
2nd House
Law
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
Duty relief is now an approval for a reduction rather than an exemption.
The minimum monetary amount for various duty requirements rises from $50 to $100.
Payroll tax rules now apply to former entities; this replaces the narrower term former corporation.
The threshold for various duty exemptions rises from $50 to $100.
Duty exemptions under section 273F are replaced by approvals for duty reductions.
The payroll tax rules replace the term 'former corporation' with 'former entity'.