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Legislative Assembly for the ACT: 2003 Week 7 Hansard (26 June) . . Page.. 2679 ..
TOCTAX revenue
(Question No 717)
Mr Cornwell asked the Treasurer, upon notice:
In relation to the TOCTAX listed under 'Other Taxes"in Table 5.2.4, 2003-04 Budget Paper 3, page 91:
(1) What is the source of this tax revenue;
(2) What is the reason for the revised increase in revenue from this tax, from $319,000 in 2002-03 (2002-03 Budget Paper 3, page 88) to $415,000 in 2002-03 (2003-04 Budget Paper 3, page 91);
(3) What is the reason for the revised increase in revenue from this tax, from $329,000 in 2003-04 (2002-03 Budget Paper 3, page 88) to $355,000 in 2003-04 (2003-04 Budget Paper 3, page 91).
Mr Quinlan
: The answer to the member's question is as follows:(1) TOCTAX revenue is payment from agencies subjected to the National Tax Equivalent Regime (NTER). The amount collected is the equivalent amount that would have been paid in income tax and hence is related to the expected profitability of the agency. In this case, there is only one agency currently expected to pay the income tax equivalent and that agency is ACTTAB.
(2) The revised increase of TOCTAX from $319,000 (2002-03 BP3, page 88) to $415,000 (2003-04 BP3, page 91) for 2002-03 result is due to better than expected financial performance (compared to previous budget) by Territories Owned Corporations that are subjected to NTER.
(3) The revised increase of TOCTAX from $329,000 (2002-03 BP3, page 88) to $355,000 (2003-04 BP3, page 91) for 2003-04 result reflects updated information since the preparation of the 2002-03 Budget. Please note that TOCTAX revenue is expected to reduce from $415,000 in 2002-03 to $355,000 in 2003-04 due to an anticipated more competitive operating environment for the agencies subjected to NTER.
Fees and charges-traffic fines
(Question No 718)
Mr Cornwell asked the Minister for Urban Services, upon notice:
In relation to the initiative for additional revenue from the increase in fees and charges for Parking and Traffic Penalties as per 2003-2004 Budget Paper 3, page 90:
(1) What are the current charges per transaction and by type for the various parking and traffic penalties included in the above initiative, and including the use of a hand held phone whilst driving;
(2) What are the proposed new charges per transaction and by type for the items listed in (1) above;
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