State Revenue Office - change of address
From Monday, 25 September 2017, the State Revenue Office street address will be:
Salamanca Building Parliament Square
4 Salamanca Place HOBART
Other contacts will not change.
Market Interest Rate for 2017-18
The market rate of interest for the 2017-18 financial year decreases to 1.73 per cent.
The rate is based on the 90-day Bank Accepted Bill Rate published by the Reserve Bank of Australia in the May preceding the new financial year.
Interest is imposed to:
- compensate the Tasmanian Government for being denied the use of revenue; and
- promote equity among taxpayers by ensuring that those who meet their obligations are not disadvantaged compared with those who do not.
2017-18 fees for Land Tax Search and Duties Administration
The fee for issuing a Land Tax Search certificate will increase from $11.47 to $11.62 from 1 July 2017.
The SRO's Duties Administration Fee for processing optional Duties Instruments will rise from $38.25 to $38.75 from 1 July 2017.
The fee increases at 1 July each year in accordance with the CPI adjustment factor provided for under Section 5 of the Fee Units Act 1997.
2017-18 State Budget initiatives
The 2017-18 State Budget included the following taxation related measures:
First Home Owner Grant
The extension of the $20 000 First Home Owner Grant for one year from 1 July 2017 to 30 June 2018 - more details.
Payroll Tax Rebate
Introduction of a payroll tax rebate scheme for employers of eligible apprentices, trainees and youth employees who commence employment between 1 July 2017 and 30 June 2019 - more details.
Amendments to section 19(2) of the Duties Act 2001
Changes to section 19(2) of the Duties Act 2001 in relation to house and land packages - more details.
These measures came into legislative effect from 1 July 2017.
Royal Assent for the Taxation and Related Legislation (Miscellaneous Amendments) Act 2017
The Taxation and Related Legislation (Miscellaneous Amendments) Act 2017 received Royal Assent on Monday, 8 May 2017. All amendments become effective from 1 July 2017, unless noted differently.
The legislation amends the following taxation Acts:
Duties Act 2001
- simplifies the requirements for an exemption from duty for the transfer of motor vehicles from deceased estates (section 199) - took effect on 8 May 2017;
- removal of the imposition of duty from various instruments that do not effect a change of ownership of land; and
- facilitates the future introduction of electronic conveyancing.
- eligible taxpayers who have incurred and paid duty on the transfer of a motor vehicle as part of a deceased estate between 1 July 2016 and 7 May 2017 inclusive may be eligible for ex gratia assistance. For information about how to apply, please go here.
Land Tax Act 2000
- one year extension of the principal residence land classification for deceased estates.
Payroll Tax Act 2008
- amends the motor vehicle allowance provisions (Section 29) - took effect from 1 July 2016.
Taxation Administration Act 1997 and Taxation Administration Regulations 2010
- changes to data collection and sharing arrangements between State Government agencies.
The legislation also contains consequential amendments to a number of other Acts.
Follow this link for a summary of the amendments.