Page 2194 - Week 06 - Tuesday, 22 June 2010
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MR CORBELL (Molonglo—Attorney-General, Minister for the Environment, Climate Change and Water, Minister for Energy and Minister for Police and Emergency Services) (4.59): Again on behalf of the Treasurer, I thank members for their support of this bill. The bill amends the Duties Act 1999, the Rates Act 2004 and the Payroll Tax Act 1987.
In 2006, the Australian government introduced provisions for families to establish a special disability trust. The purpose of these trusts is to assist immediate family members and carers to make private financial provision for the current and future care and accommodation needs of a family member with a severe disability.
Special disability trusts provide families with greater flexibility in providing for the future care of a family member with a disability. However, the duty payable on the transfer of property to a special disability trust has been a disincentive and an additional financial burden on these families.
The amendment of the Duties Act will remove this disincentive by providing an exemption from duty where property is transferred to a special disability trust. This exemption will assist families to provide for the current and future care of a family member with a disability.
Under the special disability trust arrangements, the property must provide only for the accommodation and care needs of the beneficiary of the trust. Exempting duty on the transfer of property to these trusts will reduce some of the financial burden that may prevent such a transfer occurring.
In addition, to further assist these families, the amendments to the Rates Act will extend to a special disability trust eligibility for a rates rebate and deferral of rates. Where the trust is the owner of a property and the property will be used for the accommodation and care of the beneficiary, the trust will be eligible for concessions normally provided to eligible pensioners.
Under the current provisions, a special disability trust is not eligible for the rates rebate as the owner must be an eligible pensioner and reside in the property. A special disability trust will also have the option of deferring the payment of rates should it choose to.
These amendments to exempt a special disability trust from duty and provide rates concessions are another example of how the Labor government is contributing to the aims and objectives set out in challenge 2014. Challenge 2014 lays out a 10-year vision for disability in the ACT and challenges the whole community, including government, to take responsibility for effective change.
In supporting families and people with a disability, the government, through Disability ACT, continues to develop an approach that is flexible, responsive and, as much as possible, planned and equitable.
The bill also makes changes to the Payroll Tax Act. These changes will exempt wages paid or payable to an employee who takes part in activities under the Emergencies Act
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