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A New Tax System (Goods and Services Tax) Bill 1998

Part 1-1 Preliminary

Division 1 Preliminary

1-1   Short title

                   This Act may be cited as the A New Tax System (Goods and Services Tax) Act 1999 .

1-2   Commencement

             (1)  This Act commences on 1 July 2000.

             (2)  However, if, before the day on which this Act would (but for this subsection) commence under subsection (1), there have not been appropriated, for the purposes of the programs referred to in the second column of an item in the table:

                     (a)  in respect of the financial year starting on 1 July 2000—the amount referred to in the third column of that item; and

                     (b)  in respect of the financial year starting on 1 July 2001—the amount referred to in the fourth column of that item; and

                     (c)  in respect of the financial year starting on 1 July 2002—the amount referred to in the fifth column of that item; and

                     (d)  in respect of the financial year starting on 1 July 2003—the amount referred to in the sixth column of that item;

this Act commences on, and tax is not payable under the * GST law until, the day on which the last of those amounts to be appropriated for those purposes has been appropriated under an Act.

 

Amounts to be appropriated

 

Program

Financial years

2000/01

2001/02

2002/03

2003/04

 

 

($ million)

($ million)

($ million)

($ million)

1

Book industry assistance plan

60

60

60

60

2

Supported Accommodation Assistance Program

15

15

15

15

 

Total

75

75

75

75

1-3   Commonwealth-State financial relations

                   The Parliament acknowledges that the Commonwealth:

                     (a)  will introduce legislation to provide that the revenue from the GST will be granted to the States, the Australian Capital Territory and the Northern Territory; and

                     (b)  will maintain the rate and base of the GST in accordance with the Agreement on Principles for the Reform of Commonwealth-State Financial Relations endorsed at the Special Premiers’ Conference in Canberra on 13 November 1998.