HANSARD
SITTING CALENDAR
SEARCH
LIVE BROADCAST
Hansard Dynamic Subject Index
House of Assembly - Fifty-Second Parliament, Second Session (52-2)
2013-11-12 Daily Xml
Contents
Pdf Xml

SUCCESSION DUTIES REPEAL BILL

Second Reading

Adjourned debate on second reading.

(Continued from 11 September 2013.)

The Hon. I.F. EVANS (Davenport) (12:49): This bill is a minor tidy-up and finalisation of the long process of repealing succession duties, which were essentially repealed many years ago. This simply repeals the Succession Duties Act, which was amended in 1979 to exempt from succession duty the estates of persons who died after 1 January 1980. As it is now 2013, Mr Speaker, you can see the parliament has rushed into this decision, taking only 33 years to realise the act could be repealed. However, succession duty assessments and refunds continue to be made in relation to those persons who died before that date, that is, 1 January 1980, as certain events trigger a liability or an entitlement under the act.

Although assessments and refunds are increasingly infrequent events, the technical knowledge necessary to assess succession duty liability and consider refund applications is difficult to sustain or justify. All other Australian jurisdictions have abolished comparable legislation on the basis that the employment of resources required to administer the legislation was not cost effective. The repeal of the act will remove any confusion as to whether there is an ongoing liability to pay succession duty.

The Succession Duties Repeal Bill 2013 gives effect to the abolition of succession duty from 1 July 2014, ending any liability from that date that has not been paid from and including 1 July 2014. The bill also extends any potential entitlement to a refund under the act that has not eventuated before 1 July 2014. The bill further extinguishes any entitlement to a refund that existed prior to 1 July 2014 but in respect of which applications for a refund have not been made on or before 31 December 2014. The way I understand it is that if they have applied for a refund before 31 December 2014 they will still get a refund. If they have not applied by that date, then there is no entitlement to a refund.

The opposition sent the bill to numerous industry groups inviting comment and received a response from the Law Society indicating that they support the bill. No other comments have been received by today's date. This is a bill that tidies up the repeal of the succession duties which started in the 1980s. It is now so administratively burdened compared to the number of issues it actually deals with that it is not worth maintaining the bill. It only deals with matters that arise for people who died more than 33 years ago, so the opposition supports this particular measure and has no questions for the minister.

The DEPUTY SPEAKER: If the minister speaks he closes the debate.

The Hon. M.F. O'BRIEN (Napier—Minister for Finance, Minister for Police, Minister for Correctional Services, Minister for Emergency Services, Minister for Road Safety) (12:52): I have nothing to add other than to say that it has been 33 years, and I do not think anybody could accuse us of acting with undue haste. It is long overdue. All other states have adopted this practice or this legislation in relation to succession duties, so it is fairly straightforward.

Bill read a second time.

Third Reading

The Hon. M.F. O'BRIEN (Napier—Minister for Finance, Minister for Police, Minister for Correctional Services, Minister for Emergency Services, Minister for Road Safety) (12:53): In the absence of any amendments or any discussion on the one clause, I move:

That this bill be now read a third time.

Bill read a third time and passed.

PARLIAMENTARY BUSINESS
MEMBERS
GET INVOLVED
ABOUT PARLIAMENT
VISIT
LEGISLATIVE COUNCIL
HOUSE OF ASSEMBLY
CONTACT