Commonwealth Numbered Acts Commonwealth Numbered ActsIn this Act:
"ABN " has the same meaning as in the A New Tax System (Australian Business Number) Act 1999 .
"Australia " has the same meaning as in the Income Tax Assessment Act 1997 .
"Australian law " means a law of the Commonwealth, or of a State or Territory.
"authorised officer " means a person appointed as an authorised officer under subsection 35(1).
"Business Industry Codes " means the Business Industry Codes published by the Australian Taxation Office, as in force or existing from time to time.
Note: The Business Industry Codes could in 2020 be viewed on the Australian Taxation Office's website (https://www.ato.gov.au).
"carrying on an enterprise " includes doing anything in the course of the commencement or termination of the enterprise.
"civil penalty provision " has the same meaning as in the Regulatory Powers Act.
"commencement day " means the day this Act commences.
"commercial-in-confidence " has the meaning given by subsection 20(3).
"constitutional corporation " means a corporation to which paragraph 51(xx) of the Constitution applies.
"constitutionally covered entity " has the meaning given by section 6.
"controlling corporation " means an entity that:
(a) is a body corporate incorporated in Australia; and
(b) is not a subsidiary of another body corporate that is incorporated in Australia.
"enforcement body " has the same meaning as in the Privacy Act 1988 .
"enforcement day " has the meaning given by subsection 37(2).
"enforcement related activity " has the same meaning as in the Privacy Act 1988 .
(a) do an act; or
(b) omit to perform an act.
"enterprise " has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 .
"entity " has the same meaning as in the Income Tax Assessment Act 1997 .
(a) the Secretary; or
(b) the Regulator; or
(c) an APS employee in the Department; or
(d) any other person employed in or engaged by the Department.
"Federal Circuit Court " means the Federal Circuit Court of Australia.
"Federal Court " means the Federal Court of Australia.
"foreign entity " has the same meaning as in the Income Tax Assessment Act 1997 .
"income tax " has the same meaning as in the Income Tax Assessment Act 1997 .
(a) has the same meaning as in the Income Tax Assessment Act 1997 ; or
(b) if income tax is not payable by the entity under that Act--means:
(i) a financial year; or
(ii) if the rules prescribe a period of 12 months--the prescribed period.
"internal decision reviewer " has the meaning given by subsection 53(1).
(a) a magistrate; or
(b) a Judge of the Federal Court or the Federal Circuit Court.
"member " : a subsidiary of the controlling corporation is a member of the controlling corporation's group, unless:
(a) the subsidiary is also a subsidiary of another body corporate because the other body corporate meets the requirement in subparagraph 46(a)(i) or (ii) of the Corporations Act 2001 in relation to the subsidiary; and
(b) the other body corporate is not a member of the group (including by reason of a previous operation of paragraph (a) of this definition).
"notifiable event " has the meaning given by subsection 14(4).
"payment times report " means a report prepared for the purposes of Division 2 of Part 2 (reporting payment times).
"Payment Times Small Business Identification Tool " has the meaning prescribed by the rules.
"principal governing body " , of an entity, means:
(a) the body, or group of members of the entity, with primary responsibility for the governance of the entity; or
(b) if the entity is of a kind prescribed by the rules--a prescribed body within the entity, or a prescribed member or members of the entity.
Example: Examples of principal governing bodies are as follows:
(a) for a company--the company's board of directors;
(b) for a superannuation fund--the fund's board of trustees.
"protected information " means information obtained under, or in accordance with, this Act.
"reconsideration decision " means a decision made under subsection 53(2).
"register " means the Payment Times Reports Register established under section 17.
"Regulator " has the meaning given by subsection 24(3).
"Regulatory Powers Act " means the Regulatory Powers (Standard Provisions) Act 2014 .
(a) the Federal Court; or
(b) the Federal Circuit Court; or
(c) a court of a State or Territory that has jurisdiction in relation to matters arising under this Act.
"reporting entity " has the meaning given by section 7.
Note: See also section 55 (former reporting entities).
"reporting period " has the meaning given by section 8.
"responsible member " , of an entity, means:
(a) an individual member of the entity's principal governing body who is authorised to sign payment times reports; or
(b) if the entity is a trust administered by a sole trustee--that trustee; or
(c) if the entity is a corporation sole--the individual constituting the corporation; or
(d) if the entity is under administration within the meaning of the Corporations Act 2001 --the administrator; or
(e) if the entity is of a kind prescribed by the rules--a prescribed member of the entity.
"rules " means rules made under section 58.
"Secretary " means the Secretary of the Department.
"small business " means an entity described as a small business in the Payment Times Small Business Identification Tool.
Note: An entity will be described as a small business in the Payment Times Small Business Identification Tool during an income year for the entity if it carries on an enterprise in Australia and its annual turnover (within the meaning of the Income Tax Assessment Act 1997 ) was less than $10 million for the most recent income year.
"small business invoice " means a document, notifying an obligation to make a payment, issued to an entity by a small business supplier of the entity.
"small business supplier " , in relation to an entity, means a small business that supplies goods or services to the entity.
"standard payment period " , for an entity, has the meaning prescribed by the rules.
"subsidiary " has the same meaning as in the Corporations Act 2001 .
"this Act " includes the rules.
"total income " has the same meaning as in section 3C of the Taxation Administration Act 1953 .
"use " , in relation to information, includes making a record of the information.
"volunteering entity " means a reporting entity that is a reporting entity only because of an election under paragraph 7(1)(b).