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This is a Bill, not an Act. For current law, see the Acts databases.
1996-97-98
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
Commonwealth
Places Windfall Tax (Collection) Bill
1998
No. ,
1998
(Treasury)
A Bill
for an Act relating to the imposition and collection of Commonwealth places
windfall tax
9801420—1,067/4.3.1998—(14/98) Cat. No. 97 2712 4 ISBN
0644 516453
Contents
A Bill for an Act relating to the imposition and
collection of Commonwealth places windfall tax
The Parliament of Australia enacts:
This Act may be cited as the Commonwealth Places Windfall Tax
(Collection) Act 1998.
This Act is taken to have commenced on 6 October 1997.
This Act binds the Crown in each of its capacities.
(1) In this Act, unless the contrary intention appears:
Commissioner means the Commissioner of Taxation.
liable to repay has the meaning given by subsection
(2).
State taxing law has the same meaning as in the
Commonwealth Places (Mirror Taxes) Act 1998.
windfall
tax means the tax payable under this Act.
(2) For the purposes of this Act, a State is liable to repay
an amount to a person if:
(a) the State is liable to repay the amount to the person; or
(b) the State is required or permitted to offset the amount against other
amounts that are owing, or may become owing, to the State by the person;
or
(c) the State is required or permitted to apply the amount for the benefit
of the person in any other way.
The Commissioner has the general administration of this
Act.
(1) A taxable amount is any amount that meets all the following
conditions:
(a) a State is liable to repay the amount to a person (the
taxpayer) because a State taxing law is wholly or partly invalid
because of paragraph 52(i) of the Constitution;
(b) the amount is by way of repayment of an amount paid under the State
taxing law before 6 October 1997;
(c) the amount is claimed by the taxpayer from the State, or a court
orders the State to pay the amount to the taxpayer.
(2) A taxable amount is reduced by deducting any part of it that a State
would have been liable to repay even if the State taxing law were wholly
valid.
Example: An amount that is repayable solely because of an
overpayment by the taxpayer would be deducted.
(1) The taxpayer in respect of a taxable amount is the person to whom the
State was liable to repay the taxable amount.
Note: Section 8 extinguishes the liability of the State to
repay the taxable amount.
(2) The person who is the taxpayer in respect of a taxable amount is
liable to pay windfall tax on the taxable amount.
State must withhold windfall tax
(1) A State that is liable to repay a taxable amount must not repay or
otherwise apply the taxable amount without first having deducted the windfall
tax on the taxable amount.
(2) As soon as practicable after making a deduction under subsection (1),
the State must notify the taxpayer in writing that the deduction was
made.
(3) An amount deducted under subsection (1) is payable by the State to the
Commonwealth.
State discharged from liability to account
(4) When a State makes a deduction from a taxable amount under subsection
(1) (or purportedly under subsection (1)), the State is discharged from any
liability to pay or account for the amount deducted to any person other than the
Commissioner.
(1) When a State makes a deduction from a taxable amount under section 8
(or purportedly under section 8), the taxpayer is entitled to a credit equal to
the amount deducted.
(2) However, the taxpayer is not entitled to a credit for any amount
purportedly deducted under section 8 in relation to an amount paid under a valid
State taxing law.
(3) The credit is a debt due to the taxpayer by the Commissioner on behalf
of the Commonwealth.
(4) The Commissioner may apply some or all of the credit against the
taxpayer’s liability to windfall tax (whether or not that liability is in
respect of the taxable amount that gives rise to the credit). The Commissioner
must refund any amount not applied.
After the end of each financial year, the Commissioner must give a report
to the Minister, for presentation to the Parliament, on the operation of this
Act during the year.
(1) The Commissioner may make an arrangement with an appropriate officer
or authority of a State about any matter in connection with the administration
of this Act.
(2) In particular, an arrangement may relate to the Commissioner’s
delegation of powers or functions under this Act or the regulations.
Note: Section 8 of the Taxation Administration Act
1953 contains the Commissioner’s delegation power.
(1) Whenever a State becomes liable to make a payment to the Commonwealth
under section 8, the Commonwealth is liable to pay an equal amount to the
State.
(2) Amounts payable by the Commonwealth under subsection (1) are to be
reduced by amounts that the Commissioner is liable to refund under subsection
9(4).
(3) The Consolidated Revenue Fund is appropriated for the purposes of this
section.
(1) The Governor-General may make regulations prescribing
matters:
(a) required or permitted by this Act to be prescribed; or
(b) necessary or convenient to be prescribed for carrying out or giving
effect to this Act.
(2) In particular, the regulations may prescribe penalties for offences
against the regulations by way of fines of up to 10 penalty units.