Title Tax Laws Amendment (Luxury Car Tax) Bill 2008
Database Bills & Legislation
Long Title a Bill for an Act to amend the law relating to taxation, and for related purposes
Date 26-05-2008
Source House of Reps
Parl No. 42
Bill Number 08093
Bill Type Government
Portfolio Treasurer's portfolio
Reps Bill Code T
Status Act
System Id legislation/bills/r2993_act/0003


Tax Laws Amendment (Luxury Car Tax) Bill 2008

Schedule 2—Refunds for primary producers and tourism operators

  

A New Tax System (Luxury Car Tax) Act 1999

1  At the end of section 2‑10

Add:

             (4)  Refunds can arise for primary producers and tourism operators in certain circumstances. (Division 18).

2  After Division 17

Insert:

Division 18—Refunds

18‑1  What this Division is about

Refunds under this Division may be available to primary producers and tourism operators for the supply of certain cars.

18‑5  Refunds for tax borne—primary producers

             (1)  You are entitled to a refund under this section if:

                     (a)  you have a refund entitlement under this section; and

                     (b)  you are *registered; and

                     (c)  no one else has made a valid claim for a refund in relation to the refund entitlement.

             (2)  You have a refund entitlement if:

                     (a)  you have *borne luxury car tax on the supply, or *importation, of a *refund‑eligible car; and

                     (b)  at the time of the supply or importation you are carrying on a *primary production business.

             (3)  The amount of the refund for a refund entitlement under subsection (2) is the lesser of:

                     (a)  8/33 of the luxury car tax *borne by you as described in paragraph (2)(a); and

                     (b)  $3,000.

             (4)  You cannot have a refund entitlement under subsection (2) for more than one *car in a *financial year.

18‑10  Refunds for tax borne—tourism operators

             (1)  You are entitled to a refund under this section if:

                     (a)  you have a refund entitlement under this section; and

                     (b)  you are *registered; and

                     (c)  no one else has made a valid claim for a refund in relation to the refund entitlement.

             (2)  You have a refund entitlement if:

                     (a)  you have *borne luxury car tax on the supply, or *importation, of a *refund‑eligible car; and

                     (b)  the Commissioner is satisfied that:

                              (i)  you will use the car solely for the purpose of carrying on a business; and

                             (ii)  the principal purpose of the business is carrying tourists for *tourist activities.

             (3)  The amount of the refund for a refund entitlement under subsection (2) is the lesser of:

                     (a)  8/33 of the luxury car tax *borne by you as described in paragraph (2)(a); and

                     (b)  $3,000.

18‑15  Claiming refunds

             (1)  You must claim a refund within 4 years of becoming entitled to the refund.

             (2)  A claim for a refund must be in the *approved form.

18‑20  Payment of refunds

                   If you are entitled to a refund under this Division and you have claimed the refund, the Commissioner must, on behalf of the Commonwealth, pay the amount of the refund to you.

3  Section 27‑1

Insert:

primary production business has the meaning given by section 995‑1 of the *ITAA 1997.

4  Section 27‑1

Insert:

refund‑eligible car means a 4 wheel drive, or all wheel drive, *car of a kind specified in regulations made for the purposes of this definition.

5  Section 27‑1

Insert:

tourist activity has the meaning set out in regulations made for the purposes of this definition.

6  Application

The amendments made by this Schedule apply to taxable supplies of luxury cars and taxable importations of luxury cars on or after 1 July 2008.