Title Part 4—Debit limits
Database Bills & Legislation
Long Title a Bill for an Act to appropriate money out of the Consolidated Revenue Fund for certain expenditure, and for related purposes
Date 03-04-2019 01:57 PM
Source House of Reps
Parl No. 45
Bill Number 77/19
Bill Type Government
Portfolio Finance
Reps Bill Code TM
Status Act
System Id legislation/bills/r6317_aspassed/0004


Part 4—Debit limits

Part 4—Debit limits

  

13  Debit limits

General purpose financial assistance

             (1)  The debit limit for the current year for the purposes of section 9 of the Federal Financial Relations Act 2009 is $2,083,333,334.

National partnership payments

             (2)  The debit limit for the current year for the purposes of section 16 of the Federal Financial Relations Act 2009 is $10,416,666,666.

Effect of debit limits

             (3)  If this Act specifies a debit limit for a particular purpose and another Appropriation Act specifies a debit limit for the same purpose for the current year, the debit limit for the purpose for the current year is taken to be the sum of both debit limits.

14  Adjustments for GST

                   If:

                     (a)  a payment in respect of an acquisition or importation is made in reliance on a debit limit specified in section 13; and

                     (b)  a GST qualifying amount arises for that acquisition or importation;

then the debit limit is increased by the amount of the GST qualifying amount.