Water Act 2000

The Treasurer may issue a manual (the tax equivalents manual) about deciding the amounts (tax equivalents) that must be taken into account by a category 1 water authority in applying full cost pricing to its operations as the value of benefits derived by the authority if there is no liability to pay a government tax that would be payable by the authority if it were not a statutory authority.

Without limiting subsection (1), the tax equivalents manual may provide for the following—

rulings by the tax assessor appointed under subsection (3) on issues about tax equivalents, including the application of rulings under a Commonwealth Act about Commonwealth tax;

lodging returns and giving information;

assessing returns;

the tax assessor’s functions and powers;

objections and appeals against assessments and rulings.

The Treasurer may appoint a person to be the tax assessor under the tax equivalents manual.

A category 1 water authority must, as required under the tax equivalents manual, pay tax equivalents to the Minister for payment to the consolidated fund.

The Treasurer must table a copy of the tax equivalents manual, and each amendment of the manual, in the Legislative Assembly within 14 sitting days after the manual is issued or the amendment is made.