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South Australia was the first Australian state to introduce a land tax, based on the unimproved capital value of land, in 1884. [6] [7] In 1910, George Allen (first secretary to the Treasury) founded the Land Tax Office to service land taxes at the federal level as a form of wealth tax and as a means to break up large tracts of underutilised land.
Capital gains tax (CGT) in Australia is part of the income tax system rather than a separate tax. [22] Capital gains tax was introduced by the Hawke Labor government in September 1985 and allowed for indexation of the cost base of the capital asset to the Consumer Price Index, to account for annual price inflation.
Payroll tax is a general purpose tax assessed on the wages paid by an employer in Western Australia. The tax is self-assessed in that the employer calculates the liability and then pays the appropriate amount to the Office of State Revenue, by way of a monthly, quarterly or annual return. From 1 July 2014: [32] The rate of payroll tax is 5.5%.
The New South Wales Land and Property Information (NSW LPI), a division of the Department of Finance, Services and Innovation in the government of New South Wales, was the division responsible for land titles, property information, valuation, surveying, and mapping and spatial information in the Australian state of New South Wales.
The agency helps to develop policy, implement legislation, collect revenue, process and enforce outstanding fines and penalties. It administers state taxation laws, including the Land Tax Act 1956, Payroll Tax Act 2007 and the Stamp Duties Act 1920. In 2016–2017, Revenue NSW collected more than A$ 29.4 billion in revenue. [3]
In Victoria, the land tax threshold is $50,000 on the total value of all Victorian property owned by a person on 31 December of each year and taxed at a progressive rate. The principal residence, primary production land and land used by a charity are exempt from land tax. [78] In Tasmania the threshold is $25,000 and the audit date is 1 July.
NSW Land Registry Services (NSW LRS) is the business name of Australian Registry Investments (ARI), the operator of land titling and registry services in the Australian state of New South Wales. [1] It is responsible for the state's land titles and property information and operates a registry under a 35-year concession with the Government of ...
Minister for Finance, Services and Property: Baird (2) 2 April 2015 30 January 2017 Victor Dominello: Berejiklian (1) 30 January 2017 23 February 2019 2 years, 24 days [5] [6] Minister for Finance and Small Business: Damien Tudehope: Berejiklian (2) Perrottet (1) 2 April 2019 21 December 2021 3 years, 327 days [1] Minister for Finance Perrottet (2)