Northern Territory Bills
[Index]
[Search]
[Download]
[Related Items]
[Help]
This is a Bill, not an Act. For current law, see the Acts databases.
REVENUE UNITS BILL 2009
Serial 64
Revenue
Units Bill 2009
Ms
Lawrie
A Bill for an Act to provide for fees
and charges expressed as revenue units, the indexation of the monetary value of
revenue units and for related purposes
NORTHERN TERRITORY OF
AUSTRALIA
REVENUE UNITS ACT
2009
____________________
Act No. [ ] of
2009
____________________
Table of
provisions
NORTHERN
TERRITORY OF AUSTRALIA
____________________
Act No. [ ] of
2009
____________________
An Act to provide for fees and
charges expressed as revenue units, the indexation of the monetary value of
revenue units and for related purposes
[Assented to [ ]
2009]
[Second reading [ ]
2009]
The Legislative Assembly of the Northern
Territory enacts as follows:
This Act may be cited as the Revenue Units
Act 2009.
This Act commences on 1 January
2010.
Monetary amount of fee or
charge
(1) A reference in a law of the Territory to a fee
or charge that is expressed as a number of revenue units is a reference to an
amount of money equal to the amount obtained by multiplying the monetary value
of a revenue unit, as calculated in accordance with section 4, by the
number of revenue units.
Note for subsection (1)
The number of revenue units may be a whole number
or a decimal or fractional number.
(2) However, if the amount obtained for the fee or
charge is not a multiple of $1, the amount is to be rounded down to the nearest
$1.
Example for
subsection (2)
If a fee is expressed as 10 revenue units and the
value of a revenue unit is $1.06, the actual fee will be
$10.00.
(3) In its application to an Act,
subsection (1) is subject to a contrary intention in the
Act.
Indexation of monetary value of revenue
unit
(1) The monetary value of a revenue
unit:
(a) is $1.00 until 30 June 2011;
and
(b) for the financial year commencing on 1 July
2011, or a subsequent financial year, is the amount calculated in accordance
with the formula in subsection (2) and as provided by subsections (3)
and (4).
(2) The formula is:
A = B x
where:
A is the monetary value of a revenue
unit for the financial year for which the calculation is made.
B is $1.00.
C is the average of the CPI figures
for Darwin for each of the 4 quarters of the calendar year immediately
preceding the financial year for which the calculation is made.
D is the average of the CPI figures
for Darwin for each of the 4 quarters of the calendar year
2009.
(3) The monetary value of a revenue unit,
calculated in accordance with subsection (2), is to be rounded down to 2
decimal places.
Example for subsection (3)
By calculating in accordance with the formula in
subsection (2), A is equal to $1.129. A is rounded down to 2 decimal
places which gives a value of $1.12.
(4) However, if the figure for A, after rounding
under subsection (3), is less than the figure for the previous financial
year, the monetary value of a revenue unit for the financial year is the same as
that for the previous financial year.
(5) In this section:
CPI figure for Darwin means the
Consumer Price Index: All Groups Index Number for Darwin published by the
Australian Statistician under the authority of the Census and Statistics
Act 1905 (Cth).
quarter, of a calendar year, means the
period of 3 months ending at the end of March, June, September or December
in that year.
New monetary value of revenue
unit
If the monetary value of a revenue unit calculated
under section 4 for a financial year (the new financial year)
increases from that of the previous financial year, the new
value:
(a) takes effect on 1 July of the new financial
year; and
(b) applies in calculating the amount of a fee or
charge incurred only on or after the day on which the new value takes
effect.
Notifying new monetary value of revenue
unit
(1) The Commissioner of Territory Revenue must
notify the new value of a revenue unit by Gazette notice before the date
on which the new value takes effect.
(2) However, a failure to do so does not affect the
operation of section 5(a).
(3) In this section:
Commissioner of Territory Revenue, see
section 6 of the Taxation Administration Act.
The Administrator may make regulations under this
Act.
The Revenue Units Act 2000 (Act No. 18 of
2000) is repealed.
Application and transitional
matters
(1) This Act applies to a fee or charge incurred
after the commencement.
(2) Despite section 8, the repealed Act continues
to apply to a fee or charge incurred before the commencement but not paid as at
the commencement.
(3) In this section:
commencement means the commencement of
this section.
repealed Act means the Revenue
Units Act as in force immediately before the commencement.
[Index]
[Search]
[Download]
[Related Items]
[Help]