๐ Business Tax Review (Assessment) Bill (No. 2) 2003
Assented toLABill 20825 June 2003
The Business Tax Review (Assessment) Bill (No. 2) 2003 abolishes several taxes including stamp duty on cheques, leases, unlisted marketable securities, and life insurance policies. It also abolishes debits tax and introduces a new hire of goods duty regime and modifies mortgage duty provisions.
Impact
Businesses and individuals in WA will be affected by the changes to stamp duty, debits tax, hire of goods duty, and mortgage duty. The changes aim to reduce compliance costs and improve the State's tax competitiveness.
Key Changes
["Abolishes stamp duty on cheques, leases, unlisted marketable securities, and life insurance policies.", "Abolishes debits tax from 1 July 2005.", "Replaces rental business duty with a hire of goods regime.", "Narrows the mortgage duty base and introduces a single rate."]
Parliamentary Progress
- LA IntroducedLA25 June 2003
- LA Second Reading MovedLA25 June 2003
- LA Second Reading AgreedLA19 Aug 2003
- LA AmendedLA21 Aug 2003
- LA Consideration in DetailLA21 Aug 2003
- LA Third ReadingLA26 Aug 2003
- LC Second Reading MovedLC9 Sept 2003
- LC Second Reading AgreedLC24 Oct 2003
- LC AmendedLC20 Nov 2003
- LC Third ReadingLC21 Nov 2003
Affected Sectors
financepublic_sectorother
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