Save Search

Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
 Download PDFDownload PDF 

Previous Fragment    Next Fragment

AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY BILL 2011E AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (COLLECTION) BILL 2011E AUSTRALIAN TRANSACTION REPORTS AND ANALYSIS CENTRE SUPERVISORY COST RECOVERY LEVY (CONSEQUENTIAL AMENDMENTS) BILL 2011

Order of the day read for the adjourned debate on the motion of the Parliamentary Secretary for Sustainability and Urban Water (Senator Farrell)—That these bills be now read a second time.

Debate resumed.

Question put and passed.

Bills read a second time.

The Senate resolved itself into committee for the consideration of the bills.


In the committee

Bills taken together and as a whole by leave.

Senator Brandis moved the following amendments together by leave:

In respect of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Bill 2011—

 Clause 2, page 2 (table item 2), omit the table item, substitute:

2. Sections 3 to 8At the same time as section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 commences.

3. Section 9At the end of 6 months after section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 commences.

4. Sections 10 to 16At the same time as section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 commences.

In respect of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011—

 Page 3 (after line 5), after clause 3, insert:

  

4 Review of operation of AUSTRAC cost recovery levy

  (1) The Minister must cause an independent review of the operation of the levy imposed by the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011 to be undertaken as soon as possible after the second anniversary of the commencement of section 3 of that Act.

  (2) The person who undertakes the review must give the Minister a written report of the review within 6 months after the second anniversary of the commencement of section 3 of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011.

  (3) The Minister must cause a copy of the report of the review to be tabled in each House of Parliament within 15 sitting days of receiving it.

  (4) A report prepared under subsection (1) must include but is not limited to:

 (a) a review of the levy calculation methodology;

 (b) consultation with industry participants including small and micro businesses about the impact of the levy and the costs of complying with the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Act 2011;


 (c) whether the definition of small business that is to be used (of a business employing less than 5 employees) should be amended to the definition of small business currently used by the Australian Bureau of Statistics (a business employing less than 20 employees).

Debate ensued.

Senator Brandis, by leave, amended the amendment in respect of the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011 as follows:

 Omit paragraph 4(4)(c).

Debate continued.

Question—That the amendments be agreed to—put and passed.

Senator Xenophon moved the following amendment:

 Schedule 1, page 4 (after line 8), after item 1, insert:

 1A At the end of subsection 43(1)

  Add:

 ; or (c) in the case of an eligible gaming machine venue—a person cashes in winnings of more than $1,000.

Debate ensued.

Question—That the amendment be agreed to—put and negatived.

The Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Bill 2011 agreed to and the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Bill 2011 and the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011, as amended, agreed to.

The Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy Bill 2011 to be reported without requests for amendments and the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Collection) Bill 2011 and the Australian Transaction Reports and Analysis Centre Supervisory Cost Recovery Levy (Consequential Amendments) Bill 2011 to be reported with amendments.

The Acting Deputy President (Senator Troeth) resumed the chair and the Temporary Chair of Committees reported accordingly.

On the motion of the Minister for Small Business (Senator Sherry) the report from the committee was adopted and the bills read a third time.