Revenue Legislation Amendment Bill 2018
Plain English Summary
Overview
This bill makes changes across several Queensland revenue laws to implement 2017 election commitments and 2018-19 Budget measures. It increases duties on foreign property buyers and luxury vehicles, extends the boosted First Home Owner Grant, raises land tax on large landholdings, extends the payroll tax rebate for apprentice and trainee wages, modernises the primary production land tax exemption, validates historical mining royalty assessments, and enables electronic delivery of land tax documents.
Who it affects
First home buyers benefit from an extended $20,000 grant. Foreign property buyers, luxury vehicle purchasers, and large landholders face higher duties or taxes. Employers of apprentices and trainees continue to receive payroll tax relief.
Foreign acquirer duty and luxury vehicle duty
Foreign buyers of residential property face a stamp duty surcharge increase from 3% to 7%. Buyers of vehicles worth over $100,000 pay an additional $2 per $100 of dutiable value in registration duty, excluding heavy vehicles.
- Foreign acquirer duty on residential property more than doubled from 3% to 7%
- New luxury vehicle surcharge of $2 per $100 on vehicles valued above $100,000
- Heavy vehicles over 4.5 tonnes are exempt from the luxury vehicle surcharge
First Home Owner Grant extension
The temporary increase to the Queensland First Home Owners' Grant from $15,000 to $20,000 was extended for a further six months to 30 June 2018, with retrospective effect from 1 January 2018.
- Boosted $20,000 grant extended to eligible transactions entered into up to 30 June 2018
- Retrospective legislative effect given to an administrative arrangement operating since 1 January 2018
Land tax and primary production exemption
A new top marginal land tax rate applies to landholdings above $10 million, increasing rates by 0.5 percentage points. The primary production exemption is modernised to replace 'agriculture, pasturage or dairy farming' with a broader 'primary production' definition backed by prescribed activities.
- New top land tax rate of 2.25% for individuals (2.5% for companies and absentees) on landholdings above $10 million
- Primary production exemption updated with modern terminology and a prescribed list of qualifying activities
- Primary production land and owner-occupied homes remain exempt from the land tax increase
Payroll tax apprentice rebate
The 50% payroll tax rebate for wages paid to apprentices and trainees is extended for 12 months to 30 June 2019, and the increased rebate is given retrospective legislative backing for 2016-17 and 2017-18.
- 50% payroll tax rebate for apprentice and trainee wages extended to 30 June 2019
- Retrospective legislative effect for the increased rebate in 2016-17 and 2017-18
Mining royalty administration and online portal
Historical mineral and petroleum royalty assessments made before 1 July 2014 are declared valid. The Commissioner of State Revenue can now give land tax documents electronically through a new online portal.
- Pre-2014 mineral and petroleum royalty assessments validated
- Evidentiary certificates can now be used in royalty proceedings
- New online portal for electronic delivery of land tax documents, with taxpayer consent
Bill Story
The journey of this bill through Parliament, including debate and recorded votes.
▸Committee12 June 2018View Hansard
Referred to Economics and Governance Committee
▸Second Reading15 June 2018View Hansard
Vote on a motion
The motion was agreed to.
A formal vote on whether to accept a proposal — this could be the bill itself, an amendment, or another motion.
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Ayes (49)
Noes (40)
That the question be put
The motion passed.
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Ayes (50)
Noes (39)
▸38 members spoke21 support17 oppose
Criticised the budget as a typical Labor con job with five new taxes, $83 billion debt and the worst unemployment rate in Australia. Focused on health system failings including blowing out elective surgery wait times and ambulance ramping.
“This budget is a typical Labor budget—a con job for Queensland and a shameless abandonment of my electorate of Mudgeeraba.”— 2018-06-15View Hansard
As Treasurer, moved the second reading of the cognate appropriation bills.
“I move—That the bills be now read a second time.”— 2018-06-14View Hansard
Supported the budget as delivering positive outcomes for Queensland communities, highlighting investment in neighbourhood centres, disability services, seniors concessions and the Townsville Women's Centre.
“I am proud to be part of a government that listens to and works with communities on a plan that will contribute to Queenslanders' social and economic wellbeing.”— 2018-06-15View Hansard
As Leader of the Opposition, delivered the budget reply condemning the budget as one of taxes, debt and unemployment, criticising five new taxes that would rip $2.25 billion from the economy, $83 billion debt, and the worst unemployment rate in Australia. Launched the LNP's economic plan covering congestion, electricity, health, water security and no new taxes.
“This is a budget of taxes, debt and unemployment. After 3½ years Labor's legacy for Queensland is no less than five taxes, an $83 billion debt bomb and the worst unemployment in Australia.”— 2018-06-14View Hansard
Criticised the budget for failing the Whitsunday electorate, particularly the slow cyclone recovery, inadequate school funding and cost of power, while defending the coal industry.
“Last year's budget was a massive let-down. I do not think this one is any different.”— 2018-06-15View Hansard
Criticised the budget as high-taxing, high-borrowing economic backwardness that would result in reduced economic and employment growth, condemning the $83 billion debt and five new taxes.
“True to Labor's long established form for high-taxing, high-borrowing economic backwardness, we see before us yet another budget which mires us and future generations unborn in permanent debt.”— 2018-06-14View Hansard
Criticised the budget for failing the Gold Coast and imposing new taxes that would hurt households and businesses.
“This budget fails the people of Southport and the Gold Coast.”— 2018-06-15View Hansard
Supported the budget as delivering for regional Queensland, highlighting investment in the Rockhampton region, Back to Work and Skilling Queenslanders for Work programs.
“Since January 2015, more than 153,000 new jobs have been created in Queensland. This is something that we are proud of on this side of the House.”— 2018-06-14View Hansard
Criticised the budget for failing the Toowoomba region with insufficient infrastructure investment and new taxes.
“This budget fails the people of Toowoomba North.”— 2018-06-15View Hansard
Criticised the budget for neglecting the Gold Coast and failing to deliver infrastructure, highlighting five new taxes and the government's broken promises.
“This budget is a budget of taxes, debt and unemployment.”— 2018-06-14View Hansard
Supported the budget as delivering for the Aspley electorate with investment in infrastructure and services.
“This budget delivers for the people of Aspley.”— 2018-06-15View Hansard
Supported the budget as delivering for the Logan electorate with investment in the Mount Lindesay Highway, Logan Hospital expansion and jobs programs.
“This is a budget that delivers for Logan.”— 2018-06-14View Hansard
Supported the budget as delivering for the Capalaba electorate.
“This budget delivers for the people of Capalaba.”— 2018-06-15View Hansard
Supported the budget as delivering on infrastructure, health and education, highlighting investment in the Algester electorate.
“This budget delivers for the people of Algester and for all Queenslanders.”— 2018-06-14View Hansard
Supported the budget as delivering for the Cook electorate and remote communities.
“This budget delivers for the people of Cook.”— 2018-06-15View Hansard
Criticised the budget for failing Glass House electorate and the Sunshine Coast, highlighting the underfunding of rail duplication and road infrastructure.
“This is a budget that fails the people of Glass House.”— 2018-06-14View Hansard
Criticised the budget for failing the northern Gold Coast and imposing new taxes.
“This budget fails the people of Coomera.”— 2018-06-15View Hansard
Supported the budget as delivering for Queensland communities with investment in infrastructure and services.
“This budget delivers for the people of Queensland.”— 2018-06-14View Hansard
Criticised the budget for failing North Queensland and regional communities.
“This budget fails the people of Hinchinbrook and North Queensland.”— 2018-06-15View Hansard
Supported the budget as delivering for the Cairns region with investment in roads and infrastructure projects.
“This budget delivers for the people of Barron River and the Far North.”— 2018-06-14View Hansard
Supported the budget as delivering for the Townsville electorate with investment in infrastructure and services.
“This budget delivers for the people of Townsville.”— 2018-06-15View Hansard
Supported the budget as delivering for the Morayfield electorate and Queensland more broadly.
“This budget delivers for the people of Morayfield.”— 2018-06-14View Hansard
Supported the budget as delivering for the Gaven electorate and the Gold Coast.
“This budget delivers for the people of Gaven.”— 2018-06-15View Hansard
Criticised the budget for failing regional Queensland, particularly western and outback communities, highlighting neglect of water infrastructure and roads.
“This budget has done nothing for the people of Gregory.”— 2018-06-14View Hansard
Supported the budget as delivering for the Waterford electorate.
“This budget delivers for the people of Waterford.”— 2018-06-15View Hansard
Criticised the budget for failing the Sunshine Coast with inadequate infrastructure investment and five new taxes.
“This budget fails the people of Ninderry and the Sunshine Coast.”— 2018-06-14View Hansard
Supported the budget as delivering for Queenslanders with responsible fiscal management.
“This budget delivers for the people of Queensland.”— 2018-06-15View Hansard
Criticised the budget for its five new taxes, $83 billion debt and neglect of the Gold Coast.
“This is a budget of taxes, debt and unemployment.”— 2018-06-14View Hansard
Supported the budget as delivering for Queenslanders.
“This budget delivers for the people of Queensland.”— 2018-06-15View Hansard
Criticised the budget for failing the Sunshine Coast and imposing five new taxes, while welcoming the LNP Leader's plan for rail duplication, school air conditioning and tackling the ice epidemic.
“All Labor has offered in this budget is five new taxes, ripping $2.2 billion out of Queenslanders' pockets. It cannot tax its way to growth.”— 2018-06-14View Hansard
Supported the budget as delivering for Mansfield and Queensland, highlighting more than $20 million for school infrastructure in her electorate and criticising the LNP's education proposals.
“This great Labor budget responds to the needs of all Queenslanders, creating jobs, setting out a clear economic plan, attracting investment and building infrastructure—building the economy for our future.”— 2018-06-14View Hansard
Criticised the budget for ignoring the Callide electorate despite it being the economic engine room of Queensland, highlighting the lack of water infrastructure, road funding and health services.
“The Callide electorate is the economic engine room of Queensland. It generates in the vicinity of $3 billion of income to the Queensland economy, and what have we got from the Trad budget? Absolutely nothing.”— 2018-06-14View Hansard
Supported the budget as delivering for the Jordan electorate with investment in schools, hospital expansion, park-and-ride upgrades and cost-of-living concessions.
“I rise to speak on the Appropriation Bill with a clear sense of pride that the Palaszczuk Labor government is delivering for the people of Queensland.”— 2018-06-14View Hansard
Supported the budget as delivering for the Lytton electorate and all Queenslanders.
“This budget delivers for the people of Lytton.”— 2018-06-14View Hansard
Supported the budget as delivering infrastructure and services for the Mount Ommaney electorate.
“This budget delivers for the people of Mount Ommaney.”— 2018-06-14View Hansard
Supported the budget as delivering for the Stretton electorate.
“This budget delivers for the people of Stretton.”— 2018-06-14View Hansard
Criticised the budget for neglecting the Gympie region and imposing new taxes.
“This budget fails the people of Gympie.”— 2018-06-14View Hansard
Criticised the budget for failing rural and regional Queensland with insufficient infrastructure investment and new taxes.
“This budget fails the people of Condamine.”— 2018-06-14View Hansard
▸In Detail16 May 2018 – 15 June 2018View Hansard
▸7 clause votes (all passed)
Vote on clause 12
The clause was kept in the bill.
A vote on whether a specific clause should remain in the bill as written.
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Ayes (49)
Noes (40)
Vote on clause 13
The clause was kept in the bill.
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Ayes (48)
Noes (41)
Vote on clause 14
The clause was kept in the bill.
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Ayes (48)
Noes (41)
Vote on clause 15
The clause was kept in the bill.
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Ayes (51)
Noes (38)
Vote on clause 5
The clause was kept in the bill.
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Ayes (51)
Noes (38)
Vote on clause 6
The clause was kept in the bill.
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Ayes (50)
Noes (39)
Vote on clause 7
The clause was kept in the bill.
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Ayes (50)
Noes (39)
As shadow Treasurer, opposed each revenue clause during consideration in detail, arguing against the foreign acquirer duty increase, luxury car tax, and land tax changes as part of an obscene $2.2 billion tax grab that would damage the Queensland economy.
“This is one of the four taxes that we were told would bring $492 million into the government's coffers. We have now found through this budget process that this tax, along with the additional waste levy, will bring in a whopping $2.2 billion.”— 2018-06-15View Hansard
Supported the shadow Treasurer in opposing revenue clauses, arguing the taxes were poorly designed, based on envy, and would harm enterprise, small business and superannuation fund returns.
“Intrinsically, this is a tax on enterprise. It is a tax on people who work hard. It is a tax on people who take risks, who earn money and invest in themselves and want to enjoy the benefits of their rewards.”— 2018-06-15View Hansard
As Treasurer, defended each revenue measure during consideration in detail as modest, measured and consistent with election commitments, arguing the taxes targeted those who could afford to pay rather than mums and dads.
“We are unlike those opposite, who came to government and jacked up duties on a whole range of measures that affected mums and dads, families, poor people, old people and seniors in this state.”— 2018-06-15View Hansard
Referenced Entities
Legislation
Organisations
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Sectors Affected
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