South Australian Numbered Acts

STATUTES AMENDMENT (BUDGET 2005) ACT 2005 (NO 28 OF 2005) - SECT 16

16—Amendment of section 31F—Lodgement of statement and payment of duty

        (1)         Section 31F(1)(a)(iii) and (iv)—delete subparagraphs (iii) and (iv) and substitute:

                  (iii)         the amount representing the component referable to equipment financing arrangements entered into on or after 1 October 2003 but before 1 July 2007 ("new equipment financing component No 1)"; and

                  (iv)         the amount representing the component referable to equipment financing arrangements entered into on or after 1 July 2007 ("new equipment financing component No 2) ; and

                  (v)         the amount representing the component referable to other kinds of rental business based on contracts entered into before 1 July 2007 ("general rental business component No 1)"; and

                  (vi)         the amount representing the component referable to other kinds of rental business based on contracts entered into on or after 1 July 2007 ("general rental business component No 2)"; and

        (2)         Section 31F(1)(b)(ii) and (iii)—delete subparagraphs (ii) and (iii) and substitute:

                  (ii)         0.75% of new equipment financing component No 1; and

                  (iii)         0.5% of new equipment financing component No 2; and

                  (iv)         if general rental business component No 1 exceeds a fraction of $6 000 calculated by dividing general rental business component No 1 by the aggregate of the general rental business components—1.8% of the amount of the excess; and

                  (v)         if general rental business component No 2 exceeds a fraction of $6 000 calculated by dividing general rental business component No 2 by the aggregate of the general rental business components—1.2% of the amount of the excess.