Commonwealth Numbered Acts Commonwealth Numbered Acts
A New Tax System (Luxury Car Tax) Act 1999
1 Paragraph 18‑5(2)(a)
After " * refund‑eligible car", insert "(or you would have borne luxury car tax on the supply or importation if you had acquired the * car directly rather than entering into a financing arrangement relating to the car)".
2 Paragraph 18‑5(3)(a)
Omit " * borne by you as".
3 Paragraph 18‑10(2)(a)
After " * refund‑eligible car", insert "(or you would have borne luxury car tax on the supply or importation if you had acquired the * car directly rather than entering into a financing arrangement relating to the car)".
4 Paragraph 18‑10(3)(a)
Omit " * borne by you as".
5 Application
The amendments made by items 1 to 4 apply to taxable supplies of luxury cars and taxable importations of luxury cars on or after 1 July 2008.
Taxation Administration Act 1953
6 Section 8AAZA (paragraph (a) of the definition of credit )
After " Product Grants and Benefits Administration Act 2000 ", insert "or Division 18 (refunds) of the A New Tax System (Luxury Car Tax) Act 1999 ".
7 Application
The amendment made by item 6 applies to taxable supplies of luxury cars and taxable importations of luxury cars on or after 1 July 2008.
Tax Laws Amendment (Luxury Car Tax) Act 2008
8 Item 13 of Schedule 1
Repeal the item, substitute:
13 Application
The amendments made by this Schedule do not apply where:
(a) the contract to make the taxable supply or taxable importation of the luxury car was entered into before 7.30 pm, by legal time in the Australian Capital Territory, on 13 May 2008; or
(b) the contract to make the taxable supply or taxable importation of the luxury car was entered into before that time and, after that time, a contract to finance the making of the supply is entered into.
[ Minister's second reading speech made in--
House of Representatives on 25 November 2008
Senate on 1 December 2008 ]
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