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This is a Bill, not an Act. For current law, see the Acts databases.
2002-2003
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
A
New Tax System (Commonwealth-State Financial Arrangements) Amendment Bill
2003
No. ,
2003
(Treasury)
A Bill
for an Act to amend the A New Tax System (Commonwealth-State Financial
Arrangements) Act 1999, and for related purposes
Contents
Part 1—Taking refunds into account in determining GST
revenue 3
Part 2—Timing of
determinations 5
Part 3—Residual adjustments for GST transitional
years 6
A Bill for an Act to amend the A New Tax System
(Commonwealth-State Financial Arrangements) Act 1999, and for related
purposes
The Parliament of Australia enacts:
This Act may be cited as the A New Tax System (Commonwealth-State
Financial Arrangements) Amendment Act 2003.
This Act commences on the day on which it receives the Royal
Assent.
Each Act that is specified in a Schedule to this Act is amended or
repealed as set out in the applicable items in the Schedule concerned, and any
other item in a Schedule to this Act has effect according to its
terms.
Part 1—Taking
refunds into account in determining GST revenue
1 Subsection 5(4)
Repeal the subsection, substitute:
(4) The matters are:
(a) the amount that was paid under the GST refund provisions;
and
(b) the amount that was payable under the GST refund provisions and that
(rather than being paid directly under those provisions) was allocated, applied
or refunded in accordance with Part IIB of the Taxation Administration
Act 1953;
to the extent that the amounts are attributable to GST.
2 Subsection 5(6)
Insert:
GST refund provision means a provision of a Commonwealth law
the effect of which is to require the Commonwealth to refund some or all of an
amount of GST that has been paid, whether or not the provision also applies in
relation to other kinds of tax.
Note: The capacity for new GST refund provisions to be
created is limited by section 11, which requires each State’s
agreement for changes to the GST base.
3 Application of amendments
(1) If this Part commences before 1 June in a GST year, the amendments
made by this Part apply in relation to that GST year and later GST
years.
(2) If this Part commences on or after 1 June in a GST year, the
amendments made by this Part apply in relation to the next GST year and later
GST years.
(3) However, the amendments do not apply for the purpose of making a
determination that relates to an actual amount for June in a GST year if the
amendments did not apply for the purpose of making a determination that related
to the estimated amount for June in that GST year.
(4) In this item:
GST year has the same meaning as it has in the A New Tax
System (Commonwealth-State Financial Arrangements) Act 1999.
Part 2—Timing
of determinations
4 Subsection 5(5)
Omit “15 June”, substitute
“20 June”.
5 Subsection 6(1) (definition of applicable
reduction)
Omit “10 June”, substitute
“6 June”.
6 Subsection 6(1) (definition of sum of
deductible amounts)
Omit “10 June”, substitute
“6 June”.
7 Subsection 6(1) (definition of total amount
payable)
Omit “10 June”, substitute
“6 June”.
8 Subsection 7(1)
Omit “10 June”, substitute
“6 June”.
9 Subclause 2(1) of
Schedule 1
Omit “10 June”, substitute
“20 June”.
10 Application of amendments
(1) If this Part commences before 1 June in a GST year, the amendments
made by this Part apply in relation to that GST year and later GST
years.
(2) If this Part commences on or after 1 June in a GST year, the
amendments made by this Part apply in relation to the next GST year and later
GST years.
(3) In this item:
GST year has the same meaning as it has in the A New Tax
System (Commonwealth-State Financial Arrangements) Act 1999.
Part 3—Residual
adjustments for GST transitional years
11 Clause 1 of
Schedule 1
Omit “and 6”, substitute “, 6 and 7”.
12 At the end of
Schedule 1
Add:
(1) The Treasurer must, in relation to each GST year to which
clause 6 applies (including any such year that has ended before the
commencement of this clause), determine whether there is a residual adjustment
amount for a State for the GST year. A residual adjustment amount may be either
an amount that is recoverable from, or an amount that is payable to, the
State.
(2) A determination under subclause (1) must be made in a manner
agreed by the Commonwealth and all of the States.
(3) If a residual adjustment amount for a State for a GST year is an
amount that is recoverable from the State, the Treasurer must deduct an amount
or amounts equal in total to the residual adjustment amount from an amount or
amounts the State is entitled to receive by way of financial assistance under
this Act for the GST year in which the determination of the amount is made or
the next GST year.
(4) If a residual adjustment amount for a State for a GST year is an
amount that is payable to the State, the Treasurer must add an amount or amounts
equal in total to the residual adjustment amount to an amount or amounts the
State is entitled to receive by way of financial assistance under this Act for
the GST year in which the determination of the amount is made or the next GST
year.
(5) The Treasurer may, by signed writing, delegate to an SES employee in
the Department all or any of the Treasurer’s functions under
subclauses (1), (3) and (4). The delegate must perform a delegated function
subject to any directions of the Treasurer.