Australian Capital Territory Repealed Acts

This legislation has been repealed.

DEBITS TAX ACT 1997 (REPEALED) - SECT 6

    (1)     For this Act, an excluded debit is a debit of a type referred to in any of the following paragraphs:

        (a)     a debit made to an account kept with a financial institution in the name of an organisation that is—

              (i)     a charitable organisation; or

              (ii)     a hospital that is a recognised hospital under the Health Insurance Act 1973 (Cwlth); or

              (iii)     a university, government college or government school, or a college or school that is carried on by an association or other body of persons otherwise than for purposes of profit or gain to the individual members of that association or other body;

being a debit made in relation to a transaction or transactions carried out by or on behalf of the organisation wholly and exclusively in furtherance of its objects;

        (b)     subject to subsection (2), a debit made to an account kept with a financial institution in the name of—

              (i)     a department of the Territory or of the Government of a State or another Territory; or

              (ii)     a Territory authority or an authority of a State or another Territory;

        (c)     a debit made to an account kept with a financial institution in the name of a Territory authority, or an authority of a State or another Territory, that is prescribed for this paragraph;

        (d)     a debit made to an account kept with a financial institution (the account keeping institution ) in the name of another financial institution (the "account holding institution") if—

              (i)     either of the following conditions is satisfied:

    (A)     the business carried on by the account holding institution in the ACT consists wholly or principally of banking business; or

    (B)     all debits made, or to be made, to the account are in connection with banking business carried on by the account holding institution in the ACT; and

              (ii)     the debit is not in connection with a cheque drawn on the account keeping institution by the account holding institution where the cheque was, at a time when it was incomplete, delivered by the account holding institution to a customer under an agreement under which the customer was authorised to fill up the cheque;

        (e)     a debit made to an account kept with a financial institution the tax in respect of which cannot be recovered from the account holder or account holders by the financial institution with which the account is kept;

        (f)     a debit that is included in a kind or class of debits that is prescribed for this paragraph.

    (2)     Subsection (1) (b) does not apply in relation to—

        (a)     a department or authority the sole or principal function of which is to carry on an activity in the nature of a business (whether or not for profit); or

        (b)     a debit made in relation to a transaction or transactions entered into by or on behalf of the department or authority in connection with the carrying on of an activity (other than an activity that forms a minor or insignificant part of the functions of the department or authority) in the nature of a business (whether or not for profit).