Commonwealth of Australia Bills Commonwealth of Australia Bills[Index] [Search] [Download] [Related Items] [Help]
This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003-2004
The Parliament
of the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Textile,
Clothing and Footwear Strategic Investment Program Amendment Bill
2004
No. ,
2004
(Industry, Tourism and
Resources)
A Bill for an Act to amend the
Textile, Clothing and Footwear Strategic Investment Program Act 1999, and
for related purposes
Contents
Textile, Clothing and Footwear Strategic Investment Program Act
1999 3
A Bill for an Act to amend the Textile, Clothing and
Footwear Strategic Investment Program Act 1999, and for related
purposes
The Parliament of Australia enacts:
This Act may be cited as the Textile, Clothing and Footwear Strategic
Investment Program Amendment Act 2004.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
The amendments made by Schedule 1 to this Act apply in respect of
grants made both before and after the commencement of this Act.
Textile, Clothing and
Footwear Strategic Investment Program Act 1999
1 After paragraph 10(d)
Insert:
(da) section 14A (which provides an alternative cap for certain
grants in respect of TCF value-adding);
2 After section 14
Insert:
(1) This section sets out a policy objective for the TCF (SIP) Scheme that
applies instead of the policy objective in section 14.
The objective
(2) The objective is that the total of the grants that are made to a
section 14A entity in respect of activities that, under the scheme, are
taken to be eligible activities carried on by the entity during the
entity’s 2003-2004 income year or 2004-2005 income year must not exceed
the sum of:
(a) the total grants in respect of new TCF plant/building expenditure made
to the entity in respect of amounts that, under the scheme, are taken to be
eligible expenditure incurred by the entity during that income year;
and
(b) the total grants in respect of TCF research and development
expenditure made to the entity in respect of amounts that, under the scheme, are
taken to be eligible expenditure incurred by the entity during that income year;
and
(c) the total special grants in respect of second-hand TCF plant
expenditure made to the entity in respect of amounts that, under the scheme, are
taken to be eligible expenditure incurred by the entity during that income
year.
Cap on grants to which the objective applies
(3) The TCF (SIP) Scheme must make provision for ensuring that the total
of the grants paid in respect of TCF value-adding to section 14A entities
in a financial year does not exceed, by more than $3,900,000, the total of the
grants in respect of TCF value-adding that would have been made to those
entities in the financial year if the policy objective in section 14 had
applied instead of the policy objective in this section.
Section 14A entities
(4) In this section:
section 14A entity means an entity:
(a) that carries on, in Australia, the following leather and leather
product manufacturing activities:
(i) post full substance activities (including sammying, splitting,
shaving, tanning, currying, dressing, dyeing, embossing or japanning leather,
animal skins or fur);
(ii) fur dressing and dyeing;
(iii) hide and skin tanning, currying, dressing, crusting, dyeing or
finishing;
(iv) leather manufacturing;
(v) leather tanning; or
(b) that manufactures, in Australia, eligible TCF products to which any of
the following headings of Schedule 3 to the Customs Tariff Act 1995
apply:
(i) heading 5601 of Chapter 56;
(ii) heading 5602 of Chapter 56;
(iii) heading 5603 of Chapter 56;
(iv) heading 5911 of Chapter 59.