Australian Capital Territory Numbered Acts

REVENUE LEGISLATION AMENDMENT ACT 2003 (NO. 29 OF 2003) - SECT 7

in part 9.1, insert

208AA  Corporate reconstructions—concessional duty for motor vehicle registration applications

    (1)     This section applies to an application to register a motor vehicle if—

        (a)     the application is made by a member of a group of corporations; and

        (b)     immediately before the application was made, the vehicle was registered in the name of another member of the same group; and

        (c)     the application is approved by the commissioner in accordance with any guidelines determined under subsection (4).

    (2)     Duty for the application is payable at 5% of the amount that would, apart from this section, be payable for the application.

    (3)     An approval for subsection (1) (c) may be given subject to conditions.

    (4)     The Minister may, in writing, determine guidelines for approvals.

    (5)     A determination is a disallowable instrument.

Note     A disallowable instrument must be notified, and presented to the Legislative Assembly, under the Legislation Act.

    (6)     In this section:

"corporation "includes a unit trust scheme.