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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.
Stamp duty laws can differ significantly between all eight jurisdictions. The rates of stamp duty also differ between the jurisdictions (typically up to 5.5%) as do the nature of instruments and transactions subject to duty. Some jurisdictions no longer require a physical document to attract what is now often referred to as "transaction duty".
In 1884, a general tax on income was introduced in South Australia, and in 1895 income tax was introduced in New South Wales at the rate of six pence in the pound, or 2.5%. [6] Federal income tax was first introduced in 1915, in order to help fund Australia's war effort in the First World War. [7]
Australian Capital Territory Stamp Duty Act 1969 1969 (No. 48) No ... Australian Law Reform Commission Act 1996 1996 (No. 37) Yes (as amended)
Furthermore, laws imposing taxation (except customs duties or excise) shall deal with 'one subject of taxation only', while laws imposing customs shall deal only with customs, and laws of excise only excise. If a law containing a tax provision is found to include any non-tax provisions, the court will render the non-tax provisions inoperative.
This has created significant debate as to the validity of other State taxation schemes, such as in the recent trend for States to extend stamp duty to certain dealings in goods. [20] In 2023, in the case of Vanderstock v Victoria the court ruled that a tax per kilometres driven for electric vehicles was an excise and therefore invalid.
A beer duty stamp from 1892. The first beer duty stamps were issued for beer in kegs in 1880, and like issues for the other Australian states, most were damaged or destroyed in use so most existing examples are in mint condition. The second issue was in 1881, and stamps in similar designs for use on kegs or bottles were issued until 1906.
After weeks of intense media and public pressure, the New South Wales State Government announced in its budget that it would reduce stamp duty and land tax, but critics argued that the State Government did not go far enough with much broader tax reform in New South Wales required to help encourage investment and business that had been forced ...