Australian Capital Territory Bills Explanatory Statements
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DUTIES AMENDMENT BILL 2008 (NO 2)
2008
The Legislative Assembly
for
Australian Capital
Territory
Duties Amendment Bill 2008 (No
2)
Explanatory Statement
Circulated by authority
of
Treasurer
Jon
Stanhope MLA
Duties Amendment Bill 2008 (No
2)
Summary
This Bill amends the Duties Act 1999.
Overview
The Duties Act 1999 is amended to insert a new section which will
provide that an instrument made under section 139 the Taxation Administration
Act 1999, for this new section, may apply, adopt or incorporate an
instrument as in force from time to time.
Section 139 of the Taxation
Administration Act 1999 (Amounts payable under tax laws) allows the Minister
to determine rates (including differential rates), taxes, duties, fees etc for
tax laws including the Duties Act 1999.
Details of the Duties
Amendment Act 2008 (No 2)
Clause 1 - Name of Act
This Act is the Duties Amendment Act
2008 (No 2).
Clause 2 – Commencement
This Act
commences on the day after its notification.
Clause 3 –
Legislation amended
This Act amends the Duties Act 1999.
Clause 4 – Rate of Duty – New section 208 (3)
This
clause provides that a determination for this section that is made under
section 139 of the Taxation Administration Act 1999, may apply,
adopt or incorporate an instrument that is subject to frequent change.
The Green Vehicle Guide (GVG) is provided as the example instrument as
it is updated frequently.
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