Financial Relations Agreement (Consequential Provisions) Act 2000

This

Act may be cited as the Financial Relations Agreement (Consequential Provisions) Act. (See back note 1)

This

Part comes into operation on the day on which the Administrator's assent to this Act is declared.

Parts

2, 3, 4, 7, 8, 9 and 10 come into operation on 1 July 2000.

Parts

5 and 6 come into operation on 1 July 2001.

The objectives of this Act are –

to record the intention of the Territory to comply with, and give effect to, the Intergovernmental Agreement on the Reform of

Commonwealth-State Financial Relations, a copy of which is set out in the Schedule; and

to implement, in part, measures described in that agreement.

part 2 – tourisM marketing duty

Division 1 – Taxation (Administration) Act

The

Taxation (Administration) Act is in this Division referred to as the Principal Act.

Section

4 of the Principal Act is amended by omitting from the definition of

"return" in subsection (1) ", 75, 80E" and substituting "or 75".

Division

13A of Part III of the Principal Act is repealed.

Section

123A of the Principal Act is amended by omitting ", 76, 80B or

80E" and substituting "or 76".

Section

126 of the Principal Act is amended by omitting from subsection (1)

", 13 and 13A" and substituting "and 13".

Division 2 – Stamp Duty Act

Schedule

1 to the Stamp Duty Act is amended by omitting item 21A.

Division 3 – Savings provision

The former Act continues to apply in relation to a letting of an accommodation unit to which Division 13A of Part III of that

Act applied on or before 30 June 2000 and, subject to subsection (2), in relation to the stamp duty payable under item 21A in Schedule 1 to the Stamp Duty Act as in force immediately before 1 July 2000 on an amount shown on a return under Division 13A of Part III of the former Act.

Where a return lodged under section 80E of the former Act shows an amount as being paid or payable in respect of accommodation taken both before and on or after 1 July 2000, stamp duty is payable only on so much of the amount as relates to accommodation taken before 1 July

2000.

In this section, "former Act" means the Taxation

(Administration) Act as in force immediately before 1 July

2000.

part 3 – fuel subsidies

Section

47 of the Fuel Subsidies Act is repealed and the following substituted:

"47. Act does not apply to fuel supplied or used on or after 1 July 2000

"(1) This section applies despite the other sections of this Act.

"(2) On

1 July 2000, this Act ceases to apply in respect of prescribed fuel and diesel supplied on or after that date.

"(3) On and after 1 July 2000 –

prescribed fuel is no longer required under this Act to be supplied at the general subsidised price;

a general subsidy is no longer payable under this Act in respect of prescribed fuel supplied or used on or after that date;

the ORD subsidy is no longer payable under this Act in respect of diesel supplied on or after that date but remains payable in respect of diesel supplied before that date and used on or after that date in accordance with section 20(1)(b);

the ORD subsidy is no longer payable under this Act to a licensed supplier in respect of diesel used on or after that date in accordance with section 20(2);

the special subsidy is no longer payable under this Act to

McArthur River Mining Pty Ltd ("MRM") in respect of prescribed fuel or diesel supplied to MRM on or after that date but remains payable in respect of prescribed fuel and diesel supplied to

MRM before that date and used on or after that date in accordance with regulation 10(1) of the Fuel Subsidies Regulations; and

the special subsidy is no longer payable under this Act to a person in respect of diesel supplied or used after that date in accordance with regulation 10(2) of the Fuel Subsidies Regulations.

"(4) On

1 July 2000, by virtue of this subsection, a fuel supplier's licence is cancelled.

"(5) The

Commissioner must refund to a person whose licence is cancelled under subsection (4) an amount that bears the same proportion to the amount paid under section 7(2) for the grant of the licence as the portion of the period of the licence that, but for the cancellation, would have remained bears to the total period of the licence.".

part 4 – stamp duty on certain prices

Division 1 – Taxation (Administration) Act

The

Taxation (Administration) Act is in this Division referred to as the Principal Act.