SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 NO. 44, 1993 

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 NO. 44, 1993 
- TABLE OF PROVISIONS

1. Short title etc.  
2. Commencement  
3. General definitions  
4. Insertion of new section  
5. Luxury motor vehicle for disabled person  
6. Appendix A  
7. Application of amendments  
8. Schedule  
9. Application of amendments  
SCHEDULE 

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993 - LONG TITLE

        An Act to amend the Sales Tax Assessment Act 1992,
                   and for related purposes

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 1
Short title etc.

                                    (Assented to 19 October 1993)
  1. (1) This Act may be cited as the Sales Tax Assessment Amendment (Deficit
Reduction) Act 1993.
  (2) In this Act, "Principal Act" means the Sales Tax Assessment Act 1992.*1*
(Minister's second reading speech made in -
          House of Representatives on 27 September 1993
          Senate on 29 September 1993)
*1* No. 114, 1992, as amended. For previous amendments, see Nos. 150, 191 and
224, 1992; and No. 18, 1993.

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 2
Commencement

  2. (1) Parts 1 and 2 are taken to have commenced on 18 August 1993.
  (2) Part 3 and the Schedule commence on 1 July 1995.

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 3
General definitions

  3. Section 5 of the Principal Act is amended by inserting the following
definition:
  "'motor vehicle depreciation limit' means the motor vehicle depreciation
limit that applies under section 57AF of the Income Tax Assessment Act 1936;".

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 4
Insertion of new section

  4. After section 42 of the Principal Act the following section is inserted:
Luxury motor cars
  "42A. (1) This section applies to a taxable dealing with goods covered by
Item 1 in Schedule 6 to the Exemptions and Classifications Act, other than
goods to which section 49 of this Act applies.
  "(2) If the goods are a motor vehicle that is a passenger motor vehicle for
the purposes of heading 8703 in Schedule 3 to the Customs Tariff and that is
covered by that heading (or that would be covered by that heading if it were
imported), the taxable value is reduced by:
                  Motor vehicle depreciation limit for the
        43.242% x financial year in which the taxable
                  dealing happens.
  "(3) If the goods are not covered by subsection (2), the taxable value is
reduced by:
                  Motor vehicle depreciation limit for the
        35.787% x financial year in which the taxable
                  dealing happens.".

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 5
Luxury motor vehicle for disabled person

  5. Section 49 of the Principal Act is amended by omitting subsection (2) and
substituting the following subsection:
  "(2) The exempt part is 67.1% of the motor vehicle depreciation limit for
the financial year in which the taxable dealing happens.".

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 6
Appendix A

  6. Appendix A to the Principal Act is amended:
  (a) by omitting "10%" (wherever occurring) and substituting "11%";
  (b) by omitting "$10" (wherever occurring) and substituting "$11";
  (c) by omitting "$110" (wherever occurring) and substituting "$111";
  (d) by omitting "$140" (wherever occurring) and substituting "$141".

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 7
Application of amendments

  7. The amendments made by this Part apply to dealings with goods on or after
18 August 1993.

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 8
Schedule

  8. The Principal Act is amended as set out in the Schedule.

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993
- SECT 9
Application of amendments

  9. The amendments made by this Part apply to dealings with goods on or after
1 July 1995.

SALES TAX ASSESSMENT AMENDMENT (DEFICIT REDUCTION) ACT 1993 No. 44, 1993 - SCHEDULE

                      SCHEDULE                         Section 8
          AMENDMENTS COMMENCING ON 1 JULY 1995
Subsection 42A(2):
Omit "43.242%", substitute "41.751%".
Subsection 42A(3):
Omit "35.787%", substitute "34.296%".
Appendix A:
  (a) Omit "11%" (wherever occurring), substitute "12%".
  (b) Omit "$11" (wherever occurring), substitute "$12".
  (c) Omit "$111" (wherever occurring), substitute "$112".
  (d) Omit "$141" (wherever occurring), substitute "$142".