Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
A New Tax System (Bonuses for Older Australians) Bill 1998

 

 

 

 

A New Tax System (Bonuses for Older Australians) Act 1999

 

No. 67, 1999



 

 

 

 

A New Tax System (Bonuses for Older Australians) Act 1999

 

No. 67, 1999

 

 

 

 

An Act to implement A New Tax System by providing bonus payments to older Australians, and for related purposes

   

   

   



Contents

Part 1—Preliminary                                                                                   1

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

2  Commencement............................................................................................. 2

3  Overview of Act............................................................................................ 2

Part 2—Family and Community Services customers who qualify for bonus payment       4

Division 1—Interpretation                                                                  4

4  Definitions..................................................................................................... 4

5  Annual retirement income and annual savings and investment income—customers with previous calculation of ordinary income on a yearly basis..................................................................... 6

6  Annual retirement income and annual savings and investment income—customers with no previous calculation of ordinary income on a yearly basis..................................................................... 8

7  Annual business and wages income............................................................... 9

Division 2—Claim for bonus payment                                               10

8  Making a proper claim................................................................................. 10

(1)......... An individual who wants to be paid a bonus payment under this Part must make a proper claim for the payment........................................................................................................... 10

9  Proper claim can be withdrawn................................................................... 10

10  No further proper claim can be made........................................................ 11

Division 3—Qualification for bonus payment                                    12

11  Qualification for bonus payment............................................................... 12

12  Qualification for components of bonus payment...................................... 12

Division 4—Determination of proper claim                                      15

13  Secretary to determine proper claim.......................................................... 15

14  Grant of proper claim................................................................................ 15

15  Refusal of proper claim............................................................................. 15

Division 5—Amount of bonus payment etc.                                      17

16  Amount of bonus payment....................................................................... 17

17  Making of bonus payment........................................................................ 21

Division 6—Miscellaneous                                                               22

18  General administration of Part................................................................... 22

19  Application of Social Security Act............................................................ 22

Part 3—Veterans’ Affairs customers who qualify for bonus payment  23

Division 1—Interpretation                                                                23

20  Definitions................................................................................................. 23

21  Annual retirement income and annual savings and investment income—customers with previous calculation of ordinary income on a yearly basis................................................................... 24

22  Annual retirement income and annual savings and investment income—customers with no previous calculation of ordinary income on a yearly basis................................................................... 26

Division 2—Claim for bonus payment                                               28

23  Making a proper claim............................................................................... 28

24  Proper claim can be withdrawn................................................................. 28

25  No further proper claim can be made........................................................ 29

Division 3—Qualification for bonus payment                                    30

26  Qualification for aged persons savings bonus payment............................ 30

Division 4—Determination of proper claim                                      31

27  Commission to determine proper claim..................................................... 31

28  Grant of proper claim................................................................................ 31

29  Refusal of proper claim............................................................................. 31

Division 5—Amount of bonus payment etc.                                      33

30  Amount of bonus payment....................................................................... 33

31  Making of bonus payment........................................................................ 34

Division 6—Miscellaneous                                                               35

32  General administration of Part................................................................... 35

33  Application of Veterans’ Entitlements Act............................................... 35

Part 4—ATO clients who qualify for bonus payment                             36

Division 1—Interpretation                                                                36

34  Definitions................................................................................................. 36

35  Adjusted savings and investment income.................................................. 38

36  Adjusted business and wages income........................................................ 40

Division 2—Claim for bonus payment                                               42

37  Making a proper claim............................................................................... 42

38  Proper claim can be withdrawn................................................................. 43

39  No further proper claim can be made........................................................ 43

Division 3—Qualification for bonus payment                                    44

40  Qualification for bonus payment............................................................... 44

41  Qualification for components of bonus payment...................................... 44

Division 4—Determination of proper claim                                      47

42  Commissioner to determine proper claim.................................................. 47

43  Grant of proper claim................................................................................ 47

44  Refusal of proper claim............................................................................. 47

Division 5—Amount of bonus payment etc.                                      48

45  Amount of bonus payment....................................................................... 48

46  Making of bonus payment........................................................................ 52

Division 6—Review of determinations                                             53

47  Review after an amendment of assessment............................................... 53

48  Commissioner may initiate review in other circumstances........................ 55

49  ATO client may initiate review under the Taxation Administration Act.. 56

50  Determinations not to be varied or revoked other than in accordance with this Division                56

Division 7—When and how payments can be recovered                  57

51  Recovery of payments.............................................................................. 57

52  Interest on amounts recoverable................................................................ 57

53  Write off, waiver and payment by instalments......................................... 58

Division 8—Miscellaneous                                                               60

54  General administration of Part................................................................... 60

55  Use etc. of information relating to another person.................................... 60

56  False or misleading information etc........................................................... 60

Part 5—Other matters                                                                             61

57  Bonus payment not income under Social Security Act or Veterans’ Entitlements Act   61

58  Appropriation........................................................................................... 61

59  Regulations................................................................................................ 61

 



A New Tax System (Bonuses for Older Australians) Act 1999

No. 67, 1999

 

 

An Act to implement A New Tax System by providing bonus payments to older Australians, and for related purposes

[ Assented to 8 July 1999 ]

The Parliament of Australia enacts: