Queensland Consolidated Acts Queensland Consolidated Acts(1) The Treasurer may issue a manual (the tax equivalents manual) about deciding the amounts (tax equivalents) to be paid by a GOC to its GOC Minister for payment into the Consolidated Fund as the value of benefits derived by the GOC because it is not liable to pay Commonwealth tax that would be payable by it if it were neither a GOC nor a government entity.
(2) Without limiting subsection (1), the tax equivalents manual may provide for--
(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; and
(b) the lodging of returns by GOCs; and
(c) assessing returns; and
(d) the functions and powers of the tax assessor appointed under subsection (3); and
(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 GOC must, as required under the tax equivalents manual, pay tax equivalents to the GOC Minister for payment into 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 made.
(6) For applying this section to a subsidiary of a GOC, the GOC Minister of the GOC is taken to be the GOC Minister of the subsidiary.
(7) In this section--
GOC includes a subsidiary of the GOC.