The legislative changes to implement the extension of the family farm exemption provisions (Statutes Amendment and Repeal (Simplify No 2) Bill 2017) have not passed parliament.
Statutes Amendment and Repeal (Simplify No 2) Bill 2017 was introduced into Parliament on Thursday, 10 August 2017.
This Bill proposes to extend the family farm exemption provisions of the Stamp Duties Act 1923 to include transfers to or from companies, in addition to individuals and trusts, where all other existing criteria are met. This will result in equal treatment for stamp duty on family farm transfers regardless of how the property is held.
For further information please view the Simplify Day Reducing Red Tape and Regulatory Burden 2017 report.
The State Government will hold its annual red tape repeal day in 2017 focused on cutting unnecessary red tape and removing outdated and redundant legislation.
The first Simplify Day was held last year and identified a broad range of reforms across our economy. This included reforms to fees, licences, permit, notification requirements and compliance that will make a real and lasting difference to the people and businesses affected.
The second Simplify Day will be held in August 2017, with ideas for change being put forward by business and the community.
Tell us about specific rules and processes that are outdated, don't add value and make it more difficult to simply get on and grow the economy and create jobs. Send your suggestions via email@example.com or complete a short survey about rules and regulations that affect your business. Survey closes 10 April 2017.
YourSAy will take your comments and discuss them with industry and other interested groups to work out the best way forward. Ultimately Cabinet approval will be sought to amend or abolish laws which are counterproductive to business or redundant. The aim is to introduce legislation that cuts red tape in Parliament during August 2017.
YourSAy will let you know what has happened as a result of this initiative through a report published on the YourSAy website at the end of the process.
This process will also occur in combination with feedback receive through YourSAy and consultation with industry sectors, Government agencies and relevant stakeholders.
For more information you can visit the Simpler Regulation Unit on the Department of Treasury and Finance website.
As part of Simplify Day, a parliamentary sitting day held on Tuesday 15 November 2016 which has been set aside to repeal out-dated and redundant legislation from the stock of rules and requirements impacting on business and the community, the Government has announced the following measures impacting taxation legislation:
The legislative amendments to implement the above measures are contained in the Statutes Amendment and Repeal (Simplify) Bill 2016 (the “Bill”), introduced into Parliament on 15 November 2016. The operation of these measures is subject to the Bill coming into force as an Act.
The State Government has approved a range of initiatives to ensure government regulation and decision making is undertaken quickly and efficiently. The initiatives support a key economic priority of government, which is to make South Australia the best place to do business.
One of these initiatives is Simplify Day, a parliamentary sitting day to be held on Tuesday, 15 November 2016, which has been set aside to repeal out-dated and redundant legislation from the stock of rules and requirements impacting on business and the community.
The opportunity to simplify state revenue legislation extends to provisions under legislation, not just whole legislative instruments, as well as making legislation simpler to read and comply with.
By way of example, the rental business and mortgages provisions in the Stamp Duties Act 1923 may be considered to be redundant as these taxes were abolished from 1 July 2009.
In addition, the ongoing liability to pay financial institutions duty and debits tax was removed on 1 July 2001 and 1 July 2005 respectively, however, the Financial Institutions Duty Act 1983 and the Debits Tax Act 1994 have yet to be repealed.
Your suggestions in relation to South Australian state revenue legislation are sought by close of business on Thursday, 11 August 2016 and can be submitted by email to firstname.lastname@example.org.
Based upon suggestions received during the public consultation period, detailed legislative change proposals will be developed, in partnership with industry, before being introduced into Parliament on 15 November 2016.
You are also encouraged to contribute suggestions for simplification across the range of State legislation, further information in relation to the Simplify Day initiative is available at the SA Government website YourSAy.