Commonwealth Numbered Acts

DEBITS TAX TERMINATION ACT 1990 No. 136 of 1990 - SECT 7

7. After section 13K of the Principal Act the following Division is inserted:

"Division 5 - Australian Taxation Office may
perform functions under State/Territory debits tax laws Australian Taxation
Office may perform functions under State/Territory debits tax laws

"13L. (1) In this section: `accounts', in relation to a financial institution,
includes accounts kept by way of withdrawable share capital in, or money
deposited with, the financial institution; `financial institution' includes:

   (a)  a person carrying on banking business; and

   (b)  a building society, credit union or similar body; and

   (c)  a registered corporation within the meaning of the Financial 
        Corporations Act 1974 ; `State/Territory debits tax law' means:

   (a)  a State tax law; or

   (b)  a Territory tax law; relating to the taxation of debits made to
        accounts kept with financial institutions.

"(2) The Commissioner may make an arrangement with an appropriate officer or
authority of a State or the Territory about any matter in connection with the
administration of a State/Territory debits tax law.

"(3) In particular, an arrangement may provide:

   (a)  for the Commissioner or the Second Commissioners to perform functions,
        or exercise powers, conferred on them by a State/Territory debits tax
        law; or

   (b)  for the services of officers or employees under the control of the
        Commissioner to be made available to the State or the Territory or to
        an authority of the State or of the Territory for the purposes of
        matters relating to the administration of a State/Territory debits tax
        law.".