Victorian Consolidated Legislation

Financial Institutions Duty Act 1982 - SECT 21A

Financial institutions duty paid under corresponding applied law

21A. Financial institutions duty paid under corresponding applied law



(1) In this section-

Commonwealth place deposits means the total amount deposited by a person
during a month with a financial institution (other than a registered financial
institution, an exempt financial institution or the Reserve Bank of Australia)
in Commonwealth places in Victoria;

corresponding applied law means the provisions of the Financial Institutions
Act 1982 that would apply in relation to each place in Victoria that is a
Commonwealth place, pursuant to section 6(2) of the
Commonwealth Places (Mirror Taxes) Act 1998 of the Commonwealth, if those
provisions were excluded provisions within the meaning of section 6(1) of the
Commonwealth Places (Mirror Taxes) Act 1998 of the Commonwealth.

(2) For the purposes of ascertaining the amount of financial institutions duty
payable under section 21 by a person who during a month deposits money in
Victoria and makes Commonwealth place deposits, there shall be deducted from
the amount payable under section 21 the amount payable by the person under
section 21 of the corresponding applied law.

(3) This section applies, and must be taken to have always applied, on and
from 6 October 1997.