Liability to taxation
55 Liability to taxation
Subject to subsection (2), APRA is not subject to taxation under the laws of the Commonwealth or of a State or Territory.
Subject to subsection (3), the regulations may provide that subsection (1) does not apply in relation to a specified law of the Commonwealth or of a State or Territory, or to laws included in a specified class of laws of the Commonwealth or of a State or Territory.
Despite subsection (1), APRA may be subject to taxation under certain laws (see, for example, section 177‑5 of the A New Tax System (Goods and Services Tax) Act 1999).
If regulations made for the purpose of subsection (2) provide that subsection (1) does not apply in relation to the laws of the Commonwealth that impose income tax, APRA is to be taken not to be a public authority for the purposes of section 50‑25 of the Income Tax Assessment Act 1997.
This provision refers to the regulations (the regulations may provide
). Made under this Act:
- Australian Prudential Regulation Authority Instrument fixing charges No. 2 of 2018 · under para 51(1)(b)
- Australian Prudential Regulation Authority Instrument fixing charges No. 4 of 2018 · under para 51(1)(a)(b)
- Australian Prudential Regulation Authority instrument fixing charges No. 1 of 2017 · under para 51(1)(a)
9 more instruments made under this Act are listed on the Act’s overview.
This Act’s bill:Explanatory memorandumSecond reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.