1998

 

The Parliament of the

Commonwealth of Australia

 

HOUSE OF REPRESENTATIVES

 

 

 

 

Presented and read a first time

 

 

 

 

 

 

 

 

 

A New Tax System (Bonuses for Older Australians) Bill 1998

 

No.      , 1998

 

(Family and Community Services)

 

 

 

A Bill for 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

Division 2—Claim for bonus payment                                                                 9

7............ Making a proper claim........................................................................ 9

8............ Proper claim can be withdrawn........................................................... 9

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

Division 3—Qualification for bonus payment                                                11

10.......... Qualification for bonus payment....................................................... 11

11.......... Qualification for components of bonus payment............................... 11

Division 4—Determination of proper claim                                                    13

12.......... Secretary to determine proper claim.................................................. 13

13.......... Grant of proper claim........................................................................ 13

14.......... Refusal of proper claim..................................................................... 13

Division 5—Amount of bonus payment etc.                                                    15

15.......... Amount of bonus payment................................................................ 15

16.......... Making of bonus payment................................................................ 17

Division 6—Miscellaneous                                                                                        18

17.......... General administration of Part........................................................... 18

18.......... Application of Social Security Act.................................................... 18

Part 3—Veterans’ Affairs customers who qualify for bonus payment 19

Division 1—Interpretation                                                                                        19

19.......... Definitions........................................................................................ 19

20.......... Annual retirement income and annual savings and investment income—customers with previous calculation of ordinary income on a yearly basis................................................................... 20

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

Division 2—Claim for bonus payment                                                               24

22.......... Making a proper claim...................................................................... 24

23.......... Proper claim can be withdrawn......................................................... 24

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

Division 3—Qualification for bonus payment                                                26

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

Division 4—Determination of proper claim                                                    27

26.......... Commission to determine proper claim............................................. 27

27.......... Grant of proper claim........................................................................ 27

28.......... Refusal of proper claim..................................................................... 27

Division 5—Amount of bonus payment etc.                                                    29

29.......... Amount of bonus payment................................................................ 29

30.......... Making of bonus payment................................................................ 30

Division 6—Miscellaneous                                                                                        31

31.......... General administration of Part........................................................... 31

32.......... Application of Veterans’ Entitlements Act........................................ 31

Part 4—ATO clients who qualify for bonus payment                                    32

Division 1—Interpretation                                                                                        32

33.......... Definitions........................................................................................ 32

34.......... Adjusted savings and investment income.......................................... 34

Division 2—Claim for bonus payment                                                               37

35.......... Making a proper claim...................................................................... 37

36.......... Proper claim can be withdrawn......................................................... 38

37.......... No further proper claim can be made................................................ 38

Division 3—Qualification for bonus payment                                                39

38.......... Qualification for bonus payment....................................................... 39

39.......... Qualification for components of bonus payment............................... 39

Division 4—Determination of proper claim                                                    41

40.......... Commissioner to determine proper claim.......................................... 41

41.......... Grant of proper claim........................................................................ 41

42.......... Refusal of proper claim..................................................................... 41

Division 5—Amount of bonus payment etc.                                                    42

43.......... Amount of bonus payment................................................................ 42

44.......... Making of bonus payment................................................................ 45

Division 6—Review of determinations                                                               46

45.......... Review after an amendment of assessment....................................... 46

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

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

48.......... Determinations not to be varied or revoked other than in accordance with this Division          49

Division 7—When and how payments can be recovered                         50

49.......... Recovery of payments....................................................................... 50

50.......... Interest on amounts recoverable........................................................ 50

51.......... Write off, waiver and payment by instalments.................................. 51

Division 8—Miscellaneous                                                                                        53

52.......... General administration of Part........................................................... 53

53.......... Use etc. of information relating to another person............................. 53

54.......... False or misleading information etc................................................... 53

Part 5—Other matters                                                                                                        54

55.......... Bonus payment not income under Social Security Act or Veterans’ Entitlements Act             54

56.......... Appropriation.................................................................................... 54

57.......... Regulations....................................................................................... 54

 

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

The Parliament of Australia enacts: