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This is a Bill, not an Act. For current law, see the Acts databases.

REVENUE LEGISLATION REPEAL BILL 2004

2004

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY



(As presented)

(Treasurer)

Revenue Legislation Repeal Bill 2004





Contents

Page



2004

THE LEGISLATIVE ASSEMBLY

FOR THE AUSTRALIAN CAPITAL TERRITORY



(As presented)

(Treasurer)

Revenue Legislation Repeal Bill 2004





A Bill for

An Act for the repeal of certain revenue legislation, and for other purposes













The Legislative Assembly for the Australian Capital Territory enacts as follows:



1 Name of Act

This Act is the Revenue Legislation Repeal Act 2004.

2 Commencement

This Act commences on the day after its notification day.

Note The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).

3 Notes

A note included in this Act is explanatory and is not part of this Act.

Note See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.

4 Legislation repealed

This Act repeals the following legislation:

• Financial Institutions Duty Act 1987 A1987-43

• Financial Institutions Duty Regulation 1990 SL1990-17.

5 Debits Tax Act 1997, new part 6

insert

Part 6 End of effect of Act

23 No liability for debits from 1 July 2005

(1) A person is not liable under section 11 (1) to pay tax on a taxable debit made on or after 1 July 2005 to a taxable account.

(2) A person is not liable under section 11 (2) to pay tax on an eligible debit made on or after 1 July 2005 to an account other than a taxable account.

24 No returns required for months from July 2005

A financial institution is not required to give a return under section 17 (Return in respect of taxable debits) for any month after June 2005.

25 Expiry of Act from 1 July 2006

This Act expires on 30 June 2006.

6 Credit Act 1985, section 75 (1)

omit

Subject to section 75A, an agreement

substitute

An agreement

7 Credit Act 1985, section 75 (2)

omit

Subject to section 75A, any amount

substitute

Any amount

8 Credit Act 1985, section 75A

omit

9 State Bank of South Australia (Transfer of Undertaking) Act 1994, section 12

omit

Endnotes

1 Presentation speech

Presentation speech made in the Legislative Assembly on 2004.

2 Notification

Notified under the Legislation Act on 2004.

3 Republications of amended laws

For the latest republication of amended laws, see www.legislation.act.gov.au.









































© Australian Capital Territory 2004

 

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