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Indirect Tax Laws Amendment (Assessment) Bill 2012

2010-2011-2012

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

Indirect Tax Laws Amendment (Assessment) Bill 2012

 

No.      , 2012

 

(Treasury)

 

 

 

A Bill for an Act to amend the law relating to indirect taxation, and for related purposes

   

   



Contents

1............ Short title............................................................................................. 1

2............ Commencement................................................................................... 1

3............ Schedule(s)......................................................................................... 3

Schedule 1—Assessment of amounts under indirect tax laws                     4

Part 1—Amendments commencing on 1 July 2012                                        4

Division 1—Main amendments                                                                                 4

Taxation Administration Act 1953                                                                            4

Division 2—Definitions                                                                                              18

A New Tax System (Goods and Services Tax) Act 1999                                       18

A New Tax System (Luxury Car Tax) Act 1999                                                      18

A New Tax System (Wine Equalisation Tax) Act 1999                                        19

Customs Act 1901                                                                                                       19

Fuel Tax Act 2006                                                                                                      20

Income Tax Assessment Act 1997                                                                             20

Taxation Administration Act 1953                                                                          22

Division 3—Other amendments                                                                               22

Administrative Decisions (Judicial Review) Act 1977                                        22

A New Tax System (Goods and Services Tax) Act 1999                                       22

A New Tax System (Luxury Car Tax) Act 1999                                                      36

A New Tax System (Wine Equalisation Tax) Act 1999                                        38

Customs Act 1901                                                                                                       38

Fuel Tax Act 2006                                                                                                      40

Income Tax Assessment Act 1997                                                                             45

Product Grants and Benefits Administration Act 2000                                      45

Taxation Administration Act 1953                                                                          46

Division 4—Transitional amendments                                                                   51

A New Tax System (Goods and Services Tax) Act 1999                                       51

Fuel Tax Act 2006                                                                                                      51

Taxation Administration Act 1953                                                                          52

Division 5—Application of amendments and savings provision                       55

Part 2—Amendments commencing on 1 January 2017                              57

A New Tax System (Goods and Services Tax) Act 1999                                       57

A New Tax System (Goods and Services Tax Transition) Act 1999                   57

Fuel Tax Act 2006                                                                                                      57

Income Tax Assessment Act 1997                                                                             58

Taxation Administration Act 1953                                                                          58

Part 3—Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012                                                                                                                               61

Schedule 2—Correcting errors in working out amounts under indirect tax laws               62

A New Tax System (Goods and Services Tax) Act 1999                                       62

Fuel Tax Act 2006                                                                                                      62

Schedule 3—Net amounts                                                                                                65

A New Tax System (Goods and Services Tax) Act 1999                                       65

A New Tax System (Luxury Car Tax) Act 1999                                                      67

A New Tax System (Wine Equalisation Tax) Act 1999                                        67

Schedule 4—Minor amendments                                                                                 68

A New Tax System (Goods and Services Tax) Act 1999                                       68

Fuel Tax Act 2006                                                                                                      69

Income Tax Assessment Act 1997                                                                             70

Taxation Administration Act 1953                                                                          70

 



A Bill for an Act to amend the law relating to indirect taxation, and for related purposes

The Parliament of Australia enacts:

1   Short title

                   This Act may be cited as the Indirect Tax Laws Amendment (Assessment) Act 2012 .

2   Commencement

             (1)  Each provision of this Act specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

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 this Act receives the Royal Assent.

 

2.  Schedule 1, Part 1

1 July 2012.

1 July 2012

3.  Schedule 1, Part 2

1 January 2017.

1 January 2017

4.  Schedule 1, items 265 to 268

Immediately after the commencement of section 2 of the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 .

 

5.  Schedule 1, items 269 and 270

Immediately after the time specified in the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 for the commencement of Part 2 of Schedule 2 to that Act.

However, the provision(s) do not commence at all if this Act receives the Royal Assent before 1 July 2012.

 

6.  Schedule 1, item 271

Immediately after the commencement of section 2 of the Minerals Resource Rent Tax (Consequential Amendments and Transitional Provisions) Act 2012 .

 

7.  Schedules 2 and 3

1 July 2012.

1 July 2012

8.  Schedule 4

The earlier of:

(a) the day this Act received the Royal Assent; and

(b) 1 July 2012.

 

Note:          This table relates only to the provisions of this Act as originally enacted. It will not be amended to deal with any later amendments of this Act.

             (2)  Any information in column 3 of the table is not part of this Act. Information may be inserted in this column, or information in it may be edited, in any published version of this Act.

3   Schedule(s)

                   Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.