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WATER ACT 2000 - SECT 659 Treasurer may issue tax equivalents manual

WATER ACT 2000 - SECT 659

Treasurer may issue tax equivalents manual

659 Treasurer may issue tax equivalents manual

(1) The Treasurer may issue a manual (the
"tax equivalents manual" ) about deciding the amounts (
"tax equivalents" ) that must be taken into account by a category 1 water authority in applying full cost pricing to its operations as the value of benefits derived by the authority if there is no liability to pay a government tax that would be payable by the authority if it were not a statutory authority.
(2) Without limiting subsection (1) , the tax equivalents manual may provide for the following—
(a) rulings by the tax assessor appointed under subsection (3) on issues about tax equivalents, including the application of rulings under a Commonwealth Act about Commonwealth tax;
(b) lodging returns and giving information;
(c) assessing returns;
(d) the tax assessor’s functions and powers;
(e) objections and appeals against assessments and rulings.
(3) The Treasurer may appoint a person to be the tax assessor under the tax equivalents manual.
(4) A category 1 water authority must, as required under the tax equivalents manual, pay tax equivalents to the Minister for payment to the consolidated fund.
(5) The Treasurer must table a copy of the tax equivalents manual, and each amendment of the manual, in the Legislative Assembly within 14 sitting days after the manual is issued or the amendment is made.