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First Home Saver Accounts (Further Provisions) Amendment Bill 2008

Schedule 3 Amendments commencing 1 July 2009

   

Authorised Deposit-taking Institutions Supervisory Levy Imposition Act 1998

1  After subsection 7(4)

Insert:

          (4A)  An amount determined under paragraph (3)(d) as an ADI’s asset value must exclude an amount equal to the total balances of all FHSAs (within the meaning of the First Home Saver Accounts Act 2008 ) provided by the ADI.

Financial Institutions Supervisory Levies Collection Act 1998

2  Section 7 (at the end of the definition of leviable body )

Add:

                   ; (g)  a leviable FHSA entity.

3  Section 7

Insert:

leviable FHSA entity has the same meaning as in the First Home Saver Account Providers Supervisory Levy Imposition Act 2008 .

4  Section 7 (at the end of the definition of levy )

Add:

               ; or (g)  in respect of a leviable body that is a leviable FHSA entity—levy imposed by the First Home Saver Account Providers Supervisory Levy Imposition Act 2008 .

5  At the end of section 8

Add:

Leviable FHSA entities

             (7)  A body corporate or trustee that is a leviable FHSA entity at any time during a financial year that ends after the commencement of the First Home Saver Account Providers Supervisory Levy Imposition Act 2008 is liable to pay a levy imposed in respect of that financial year.

Life Insurance Supervisory Levy Imposition Act 1998

6  After subsection 7(4)

Insert:

          (4A)  An amount determined under paragraph (3)(d) as a life insurance company’s asset value must exclude an amount equal to the total balances of all FHSAs (within the meaning of the First Home Saver Accounts Act 2008 ) provided by the life insurance company.