10 May 2012

Accommodating the property trusts

| johnboy
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Andrew Barr has let it be known the Assembly has passed his Duties (Landholders) Amendment Bill 2012.

The Bill will reduce complexity and regulation for landholders, improve the ACT’s investment competitiveness, and appropriately align ACT regulations with NSW.

The amendments will:
— Align landholder provisions in the ACT more closely with NSW;
— Significantly reduce the administrative burden on trust companies;
— Simplify compliance with the landholder provisions; and
— Improve the ACT’s attractiveness to large wholesale investors.

UPDATE 10/05/12 17:56: An amended media release has gone out indicating the legislation has been introduced today and awaits passage.

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Minutes and Hansard will reveal a different story.

He presented the Bill in the Assembly – it has yet to be debated and passed.

First par:

The ACT Labor Government is making Canberra a more attractive place in which to invest after the
Legislative Assembly today passed the Duties (Landholders) Amendment Bill 2012.

I do put these things here for you to read you know.

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