Windfall Gains Tax Act 2021

See www.legislation.vic.gov.au for Victorian Bills, Acts and current Versions of legislation and up-to-date legislative information.

Minister's second reading speech—

Legislative Assembly: 13 October 2021

Legislative Council: 28 October 2021

The long title for the Bill for this Act was "A Bill for an Act to impose a windfall gains tax on the increase in the value of land resulting from a rezoning and amend the Duties Act 2000, the Essential Services Commission Act 2001, the Gambling Regulation Act 2003, the Land Tax Act 2005, the State Taxation and Mental Health Acts Amendment Act 2021, the Taxation Administration Act 1997, the Valuation of Land Act 1960, the Water Act 1989 and the Water Industry Act 1994 and for other purposes."

Constitution Act 1975:

Section 85(5) statement:

Legislative Assembly: 13 October 2021

Legislative Council: 28 October 2021

Absolute majorities:

Legislative Assembly: 28 October 2021

Legislative Council: 18 November 2021

The Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021 was assented to on 30 November 2021 and comes into operation as follows:

Sections 1, 2, 45–48, 55–70, 75–80, 102–107 on 1 December 2021: section 2(1); sections 49–54, 71–74 on 15 April 2022: section 2(2); sections 3–44, 81–101, 108–110 on 1 July 2023: section 2(3).

The title of this Act was changed from the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021 to the Windfall Gains Tax Act 2021 by section 108 of the Windfall Gains Tax and State Taxation and Other Acts Further Amendment Act 2021, No. 52/2021.

INTERPRETATION OF LEGISLATION ACT 1984 (ILA)

Style changes

Section 54A of the ILA authorises the making of the style changes set out in Schedule 1 to that Act.

References to ILA s. 39B

Sidenotes which cite ILA s. 39B refer to section 39B of the ILA which provides that where an undivided section or clause of a Schedule is amended by the insertion of one or more subsections or subclauses, the original section or clause becomes subsection or subclause (1) and is amended by the insertion of the expression "(1)" at the beginning of the original section or clause.

Interpretation

As from 1 January 2001, amendments to section 36 of the ILA have the following effects:

• Headings

All headings included in an Act which is passed on or after 1 January 2001 form part of that Act. Any heading inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act. This includes headings to Parts, Divisions or Subdivisions in a Schedule; sections; clauses; items; tables; columns; examples; diagrams; notes or forms. See section 36(1A)(2A).

• Examples, diagrams or notes

All examples, diagrams or notes included in an Act which is passed on or after 1 January 2001 form part of that Act. Any examples, diagrams or notes inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, form part of that Act. See section 36(3A).

• Punctuation

All punctuation included in an Act which is passed on or after 1 January 2001 forms part of that Act. Any punctuation inserted in an Act which was passed before 1 January 2001, by an Act passed on or after 1 January 2001, forms part of that Act. See section 36(3B).

• Provision numbers

All provision numbers included in an Act form part of that Act, whether inserted in the Act before, on or after 1 January 2001. Provision numbers include section numbers, subsection numbers, paragraphs and subparagraphs. See section 36(3C).

• Location of "legislative items"

A "legislative item" is a penalty, an example or a note. As from 13 October 2004, a legislative item relating to a provision of an Act is taken to be at the foot of that provision even if it is preceded or followed by another legislative item that relates to that provision. For example, if a penalty at the foot of a provision is followed by a note, both of these legislative items will be regarded as being at the foot of that provision. See section 36B.

• Other material

Any explanatory memorandum, table of provisions, endnotes, index and other material printed after the Endnotes does not form part of an Act.

See section 36(3)(3D)(3E).