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Legislative Assembly for the ACT: 1996 Week 12 Hansard (21 November) . . Page.. 4043 ..
MRS CARNELL (continuing):
Page 10, lines 14 to 17, clause 4, proposed Division 4, omit the Division.
Page 10, line 30, clause 4, omit "section 7", substitute "sections 6A and 7".
New clause -
Page 10, line 32, insert the following clause:
"Determination of percentages and specification of amount
61. (1) Subject to this section, with effect on and after 1 October 1996 -
(a) 1.5% shall be taken to have been determined by the Minister in accordance with subsection 99(1) of the Taxation (Administration) Act for the purposes of paragraph 64G(1)(a) of the Principal Act as amended by this Act; and
(b) $6,000 shall be taken to have been indicated in that determination as the amount above which the rate of duty referred to in paragraph (a) is payable.
(2) Subject to this section, with effect on and after 1 October 1996, 0.75% shall be taken to have been determined by the Minister in accordance with subsection 99(1) of the Taxation (Administration) Act for the purposes of paragraph 64G(1)(b) of the Principal Act as amended by this Act.
(3) For the purpose of facilitating revocation or variation by determination under subsection 99(1) of the Taxation (Administration) Act of the percentages and the amount referred to in subsections (1) and (2), the Minister may, after the notification of this Act, by notice published in the Gazette, make a determination -
(a) for the purposes of paragraph 64G(1)(a) of the Principal Act as amended by this Act being a determination that is expressed to determine the percentage, and indicate the amount, referred to in subsection (1); and
(b) for the purposes of paragraph 64G(1)(b) of the Principal Act as amended by this Act being a determination that is expressed to determine the percentage referred to in subsection (2).
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