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LAND TAX ASSESSMENT BILL 2001

Introduction and First Reading Bill introduced, on motion by Mr Ripper (Treasurer), and read a first time.

Second Reading

MR RIPPER (Belmont - Treasurer) [12.38 pm]: I move -

That the Bill be now read a second time. The Land Tax Assessment Act 1976 contains administrative provisions that are to be standardised to conform with other taxation legislation and moved to the Taxation Administration Bill 2001. Upon removal of the administrative provisions, the Land Tax Assessment Act will contain a large number of part and section gaps, which will make it difficult to use. The structure of the Act, with a large number of exemptions and qualifications located in the schedules, makes it difficult to understand. As a result of these problems, this Bill re-enacts the Land Tax Assessment Act. The 1976 Act is to be repealed by the Taxation Administration (Consequential Provisions) Bill 2001. This new Bill is contemporary in style and far easier to comprehend than the existing Act. In addition, the exemptions will now be classified by type, with each exemption located in its own section. This will make it much easier for taxpayers to understand. This Bill does not alter the policy settings of the existing Act in any significant manner. In this regard, the accompanying explanatory memorandum contains a table clearly identifying the existing sections of the Act and the corresponding new clauses in this Bill. The commencement date of the Bill is specified as the commencement date of the Taxation Administration Act 2001, which it is envisaged will commence on 1 July 2002. I commend the Bill to the House.

Debate adjourned, on motion by Mr Marshall.