TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 9 Interpretation

TAXATION LAWS AMENDMENT ACT (No. 3) 1993No. 118, 1993 - SECT 9

9. Section 136 of the Principal Act is amended by omitting paragraph (a) of
the definition of "stand-by value" in subsection (1) and substituting the
following paragraph:

"(a) if the recipients transport is over a domestic route:

        (i)    if the recipients transport is on a scheduled passenger air
               service-37.5% of the lowest publicly advertised economy air
               fare charged by the provider at or about the comparison time in
               respect of transport over that route; and

        (ii)   if:

                (A)  the recipients transport is not on a scheduled passenger
                     air service; and

                (B)  a carrier operates a scheduled passenger air service over
                     that route at or about the comparison time;
37.5% of the lowest publicly advertised economy air fare charged by a carrier
at or about the comparison time in respect of transport over that route; and

        (iii)  if:

                (A)  the recipients transport is not on a scheduled passenger
                     air service; and

                (B)  no carrier operates a scheduled passenger air service
                     over that route at or about the comparison time; and

                (C)  a combination of scheduled passenger air services
                     operated by a carrier or carriers at or about the
                     comparison time would enable a person to travel between
                     the ports of embarkation and disembarkation;
37.5% of the lowest combination of publicly advertised economy air fares
charged by carriers at or about the comparison time in respect of transport
between the ports of embarkation and disembarkation; and

        (iv)   in any other case-75% of the notional value at the comparison
               time of the recipients transport; and".