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Legislative Assembly for the ACT: 2001 Week 3 Hansard (8 March) . . Page.. 832 ..

MR SMYTH (continuing):

based on insurance premiums for the previous full financial year. The bill will remove the requirement for the commissioner to issue an advance assessment and the liability on insurers to provide returns and pay the levy in respect of the financial years beginning on 1 July 2001. The bill amends the Insurance Levy Act 1998 to ensure that the insurance levy does not apply for the financial year 2001-02 and thereafter.

This bill removes the requirement for the commissioner to issue an advance assessment in May 2001 for the next financial year; removes the requirement for an insurer to make an advance payment for the year 2001-02; removes the requirement for the commissioner to calculate and issue assessments for 2001-02 and thereafter; removes the requirement for insurers and property owners to provide returns in respect of the 2001-02 and subsequent financial years; and amends the definition of "premium" in the Duties Act 1999 on 1 September 2001 so that it does not include the insurance levy; repeals the Insurance Levy Regulations on 1 July 2002, as they will have no application after that date; and repeals the remaining provisions of the Insurance Levy Act 1998 on 1 July 2002, which will allow sufficient time for any outstanding payments to be collected.

In summary, this bill ensure that the insurance levy ceases to apply from 1 July 2001.

Mr Kaine: Mr Speaker, I welcome this bill from the government. It is well and truly overdue. This levy was taxation by stealth, as I described it at the time.

MR SPEAKER: Mr Kaine, you cannot debate the bill at the moment.

Mr Kaine: Until someone adjourns the debate, Mr Speaker, I suggest I can.

MR SPEAKER: We have not adjourned it.

Mr Kaine: Am I out of order? Is somebody going to tell me that I am out of order? Are you going to tell me I am out of order?

MR SPEAKER: I am.

Mr Kaine: Presumably, somebody will seek to adjourn the debate.

MR SPEAKER: The Clerk is advising me.

Mr Kaine: I want to make the point-

MR SPEAKER: Standing order 172 states:

That effectively prevents debate from taking place.

Mr Kaine: Nobody moved the adjournment, Mr Speaker.

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