Pay-roll Tax Assessment Act 2002

On an application under section 42B the Minister, with the Treasurer’s concurrence, may determine that a relevant body is a beneficial body for the purposes of the taxation Acts.

The Minister, with the Treasurer’s concurrence, may amend or revoke a beneficial body determination.

The Minister may make, amend or revoke a beneficial body determination only if the Minister is of the opinion that it is in the public interest to do so and after considering any information that the Minister considers relevant.

The Minister must —

provide written reasons to the applicant for a decision in relation to an application under section 42B; and

provide written reasons for a decision to amend or revoke a beneficial body determination to the body in respect of which the determination is made.

The Minister is to publish notice of the making, amendment or revocation of a beneficial body determination in the Gazette.

A beneficial body determination is subject to the conditions specified in the determination (if any).

A beneficial body determination made under this section comes into force —

for the purposes of this Act — on the day on which the determination is made; and

for the purposes of the Duties Act 2008 and the Land Tax Assessment Act 2002 — on the day specified in the notice in respect of each Act.

Despite subsection (7)(a), a beneficial body determination made under this section applies —

on and from the day specified by the Minister in the determination, and section 41(5) applies in relation to specifying that day as if it were the day on which an exemption under section 41(2) comes into operation; and

in relation to any liability to pay‑roll tax in respect of which the relevant body would have been exempt under section 41 had a beneficial body determination been in force for the purposes of this Act in respect of the relevant body.

The Commissioner is to reassess the liability to pay‑roll tax of a relevant body for the period in respect of which a beneficial body determination applies in respect of the body under subsection (8).

The limitations as to time in the Taxation Administration Act 2003 section 17 do not apply in respect of a reassessment under subsection (9).

A beneficial body determination continues in force until the day on which notice of the revocation is published in the Gazette, and different days may be specified for each Act in respect of which the determination is in force.