Australian Capital Territory Numbered Acts

STAMP DUTIES AND TAXES (AMENDMENT) ACT - SECT 6

Determination of percentages and specification of amount

7. (1) Subject to this section, with effect on and after 1 October 1996—

        (a)     1.5% shall be taken to have been determined by the Minister in accordance with subsection 99 (1) of the Taxation (Administration) Act 1987 for the purposes of paragraph 64G (1) (a) of the Principal Act as amended by this Act; and

        (b)     $6,000 shall be taken to have been indicated in that determination as the amount above which the rate of duty referred to in paragraph (a) is payable.

(2) Subject to this section, with effect on and after 1 October 1996, 0.75% shall be taken to have been determined by the Minister in accordance with subsection 99 (1) of the Taxation (Administration) Act 1987 for the purposes of paragraph 64G (1) (b) of the Principal Act as amended by this Act.

(3) For the purpose of facilitating revocation or variation by determination under subsection 99 (1) of the Taxation (Administration) Act 1987 of the percentages and the amount referred to in subsections (1) and (2), the Minister may, after the notification of this Act, by notice published in the Gazette , make a determination—

        (a)     for the purposes of paragraph 64G (1) (a) of the Principal Act as amended by this Act being a determination that is expressed to determine the percentage, and indicate the amount, referred to in subsection (1); and

        (b)     for the purposes of paragraph 64G (1) (b) of the Principal Act as amended by this Act being a determination that is expressed to determine the percentage referred to in subsection (2).

(4) Upon the publication in the Gazette of a determination—

        (a)     referred to in paragraph (3) (a)—subsection (1) shall be taken to have expired; or

        (b)     referred to in paragraph (3) (b)—subsection (2) shall be taken to have expired.

(5) A determination referred to in paragraph (3) (a) or (b) is not a disallowable instrument for the purposes of section 10 of the Subordinate Laws Act 1989 .

(6) A determination referred to in paragraph (3) (a) or (b) has effect according to its terms, and may be revoked or varied, as if it had been made under subsection 99 (1) of the Taxation (Administration) Act 1987 .

Transitional

8. (1) Notwithstanding the period specified in section 64V for lodgment of a return and payment of duty, a person to whom that section applies shall, within 30 days after the date of notification of this Act, in respect of each month completed between 30 September 1996 and the date of that notification—

        (a)     lodge the return required by that section in relation to hiring charges received or receivable by the person in respect of that month; and

        (b)     pay to the Commissioner as duty the amount required by that section in relation to hiring charges received or receivable by the person in respect of that month.

(2) Notwithstanding the period specified in section 64Z for lodgment of a statement or agreement and payment of duty, where hiring charges are received or become payable after the commencement of this Act and before the date of its notification—

        (a)     the statement or agreement relating to those charges shall be lodged; and

        (b)     the duty relating to those charges shall be paid;

within 30 days after the date of notification of this Act.

(3) In this section, a reference to a section shall be taken to be a section of the Principal Act as amended by this Act.

(4) For the purposes of the Taxation (Administration) Act 1987 , this section shall be taken to be a tax law.