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 corporatised corporation to its local government as the value of benefits derived by the corporation because it is not liable to pay Commonwealth or State tax that would be payable if it were neither a corporatised corporation nor a local government.
(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 and giving of information by corporatised corporations; and
(c) assessing returns; and
(d) the functions and powers of the tax assessor; 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 corporatised corporation must, as required under the tax equivalents manual, pay tax equivalents to its local government.
(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.