Commonwealth of Australia Bills
[Index]
[Search]
[Download]
[Related Items]
[Help]
This is a Bill, not an Act. For current law, see the Acts databases.
TAX LAWS AMENDMENT (LUXURY CAR TAX-MINOR AMENDMENTS) BILL 2008
2008
The Parliament of the
Commonwealth of Australia
HOUSE OF REPRESENTATIVES
Presented and read a first time
Tax Laws Amendment (Luxury Car
Tax--Minor Amendments) Bill 2008
No. , 2008
(Treasury)
A Bill for an Act to amend the law relating to
taxation, and for related purposes
i Tax Laws Amendment (Luxury Car Tax--Minor Amendments) Bill 2008 No. , 2008
Contents
1
Short title ............................................................................................ 1
2
Commencement .................................................................................. 1
3
Schedule(s) ......................................................................................... 2
Schedule 1--Luxury Car Tax
3
A New Tax System (Luxury Car Tax) Act 1999
3
Taxation Administration Act 1953
3
Tax Laws Amendment (Luxury Car Tax) Act 2008
3
Tax Laws Amendment (Luxury Car Tax--Minor Amendments) Bill 2008 No. , 2008 1
A Bill for an Act to amend the law relating to
1
taxation, and for related purposes
2
The Parliament of Australia enacts:
3
1 Short title
4
This Act may be cited as the Tax Laws Amendment (Luxury Car
5
Tax--Minor Amendments) Act 2008.
6
2 Commence ment
7
(1) Each provision of this Act specified in column 1 of the table
8
commences, or is taken to have commenced, in accordance with
9
column 2 of the table. Any other statement in column 2 has effect
10
according to its terms.
11
12
2 Tax Laws Amendment (Luxury Car Tax--Minor Amendments) Bill 2008 No. ,
2008
Commencement information
Column 1
Column 2
Column 3
Provision(s)
Commencement
Date/Details
1. Sections 1 to 3
and anything in
this Act not
elsewhere covered
by this table
The day on which this Act receives the
Royal Assent.
2. Schedule 1,
items 1 to 7
The day on which this Act receives the
Royal Assent.
3. Schedule 1,
item 8
Immediately after the commencement of the
Tax Laws Amendment (Luxury Car Tax) Act
2008.
3 October 2008
Note:
This table relates only to the provisions of this Act as originally
1
passed by both Houses of the Parliament and assented to. It will not be
2
expanded to deal with provisions inserted in this Act after assent.
3
(2) Column 3 of the table contains additional information that is not
4
part of this Act. Information in this column may be added to or
5
edited in any published version of this Act.
6
3 Schedule(s)
7
Each Act that is specified in a Schedule to this Act is amended or
8
repealed as set out in the applicable items in the Schedule
9
concerned, and any other item in a Schedule to this Act has effect
10
according to its terms.
11
12
Lu xu ry Car Tax Schedule 1
Tax Laws Amendment (Luxury Car Tax--Minor Amendments) Bill 2008 No. , 2008
3
1
Schedule 1
--
Luxury Car Tax
2
3
A New Tax System (Luxury Car Tax) Act 1999
4
1 Paragraph 18-5(2)(a)
5
After "
*
refund-eligible car", insert "(or you would have borne luxury
6
car tax on the supply or importation if you had acquired the
*
car directly
7
rather than entering into a financing arrangement relating to the car)".
8
2 Paragraph 18-5(3)(a)
9
Omit "
*
borne by you as".
10
3 Paragraph 18-10(2)(a)
11
After "
*
refund-eligible car", insert "(or you would have borne luxury
12
car tax on the supply or importation if you had acquired the
*
car directly
13
rather than entering into a financing arrangement relating to the car)".
14
4 Paragraph 18-10(3)(a)
15
Omit "
*
borne by you as".
16
5 Application
17
The amendments made by items 1 to 4 apply to taxable supplies of
18
luxury cars and taxable importations of luxury cars on or after 1 July
19
2008.
20
Taxation Administration Act 1953
21
6 Section 8AAZA (paragraph (a) of the definition of credit)
22
After "Product Grants and Benefits Administration Act 2000", insert
23
"or Division 18 (refunds) of the A New Tax System (Luxury Car Tax)
24
Act 1999".
25
7 Application
26
The amendment made by item 6 applies to taxable supplies of luxury
27
cars and taxable importations of luxury cars on or after 1 July 2008.
28
Tax Laws Amendment (Luxury Car Tax) Act 2008
29
Schedule 1 Lu xury Car Tax
4 Tax Laws Amendment (Luxury Car Tax--Minor Amendments) Bill 2008 No. ,
2008
8 Item 13 of Schedule 1
1
Repeal the item, substitute:
2
13 Application
3
The amendments made by this Schedule do not apply where:
4
(a) the contract to make the taxable supply or taxable
5
importation of the luxury car was entered into before 7.30
6
pm, by legal time in the Australian Capital Territory, on
7
13 May 2008; or
8
(b) the contract to make the taxable supply or taxable
9
importation of the luxury car was entered into before that
10
time and, after that time, a contract to finance the making of
11
the supply is entered into.
12