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Legislative Assembly for the ACT: 2002 Week 4 Hansard (11 April) . . Page.. 1052 ..
MR QUINLAN (Treasurer, Minister for Economic Development, Business and Tourism, Minister for Sport, Racing and Gaming and Minister for Police, Emergency Services and Corrections) (5.29), in reply: I thank members for their support.
Question resolved in the affirmative.
Bill agreed to in principle
Leave granted to dispense with the detail stage.
Bill agreed to.
Treasury Legislation Amendment Bill 2002
Debate resumed from 7 March 2002, on motion by Mr Quinlan:That this bill be agreed to in principle.
MR HUMPHRIES (Leader of the Opposition) (5.31): Mr Speaker, this legislation has the support of the opposition. The Treasury Legislation Amendment Bill is a series of omnibus amendments dealing with the methods of determining interest rates and of determining certain exemptions from payroll tax. The objective of the amendment is essentially to simplify the administration of these matters.
The key amendments propose a more appropriate method for establishing the interest rates to apply to various activities, including tax defaults, overdue rates and any other payments dutiable when rates have been deferred. Essentially, the bill links the setting of the interest rate to the Reserve Bank's monthly 90-day bank bill rate. The rate will apply automatically, except in circumstances where the Treasurer believes that a separate determination is appropriate. That, of course, is disallowable.
The legislation also deals with the question of making separate determinations to exempt training organisations from the payment of payroll tax, and provides that an automatic linking with the provisions of the Vocational Education and Training Act occurs so that organisations appropriately identified under that legislation will automatically receive a payroll tax exemption. Again, this amendment appears to be designed to aid the efficiency of administration and does not make any substantive changes to the law. The bill has the support of the opposition.
MR QUINLAN (Treasurer, Minister for Economic Development, Business and Tourism, Minister for Sport, Racing and Gaming and Minister for Police, Emergency Services and Corrections) (5.32), in reply: I thank members for their support.
Question resolved in the affirmative.
Bill agreed to in principle.
Leave granted to dispense with the detail stage.
Bill agreed to.
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