๐ Business Tax Review (Taxing) Bill 2003
Assented toLABill 17612 March 2003
The Business Tax Review (Taxing) Bill 2003 implements recommendations from the Business Tax Review for payroll tax and land tax. It restructures land tax rates by reducing threshold brackets and introduces a single payroll tax rate of 6.0% above a $750,000 exemption threshold.
Impact
Businesses and landowners in Western Australia will be affected by changes to land tax thresholds and the introduction of a single payroll tax rate. Some businesses will benefit from the simplified payroll tax, while others may see an increase. Landowners will see a restructuring of land tax brackets.
Key Changes
["Restructures land tax scale by reducing the number of threshold brackets from 10 to 6.", "Replaces the variable marginal payroll tax rate scale with a single marginal rate of 6.0% above an exemption threshold of $750,000.", "Abolishes the land developers\u2019 concession."]
Parliamentary Progress
- LA IntroducedLA12 Mar 2003
- LA Second Reading MovedLA12 Mar 2003
- LA Second Reading AgreedLA8 Apr 2003
- LA Consideration in DetailLA8 Apr 2003
- LA Third ReadingLA9 Apr 2003
- LC Second Reading MovedLC10 Apr 2003
- LC Second Reading AgreedLC13 June 2003
- LC Third ReadingLC24 June 2003
Affected Sectors
financepublic_sector
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