ARTICLE · 30 MARCH 2007

New Queensland Revenue Bill

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On Wednesday 11 October, the Queensland Government introduced the Revenue and Other Legislation Amendment Bill 2006 (Bill) into parliament.

AustraliaTax

Nicholas Clifton

Queensland Stamp Duty Changes

On Wednesday 11 October, the Queensland Government introduced the Revenue and Other Legislation Amendment Bill 2006 (Bill) into parliament. Among other proposals, the Bill provides for the amendment of the Duties Act 2001 (Qld) that:

eliminates hire of goods duty and marketable security duty and make consequential amendments, and

amends the mortgage duty provisions relating to security over assets in more than one jurisdiction.

These changes relate to announcements that were made as part of the Inter-Governmental Agreement (agreement). Under that agreement, the states and territories agreed to eliminate certain stamp duties in return for receiving the GST revenue collected by the federal government.

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