Page 2850 - Week 09 - Tuesday, 19 September 2006
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When fully operational, the introduction of the online service will lead to the closure of the public counter at the ACT Revenue Office. Mr Speaker, as you would expect with such an important system, this will only occur once the online service has been rigorously tested and any deficiencies that might be identified are addressed. The online service is expected to simplify dealings with the ACT Revenue Office for approved persons such as solicitors and other professionals involved in multiple transactions on behalf of their clients. These approved persons will be able to process certain dutiable transactions and payments online through a web interface without physically lodging documents with the Commissioner for ACT Revenue. This will provide faster turnaround times for transactions and reduce the need for multiple visits to the revenue office.
Initially about half of all dutiable transactions of the ACT will be able to be electronically processed. These will include transfers of land, the grant of residential crown leases, declarations of trust over non-dutiable property, deeds that establish superannuation funds and certain commercial leases. An online training component will be available to guide approved persons through the processes. Over time, as approved persons become more familiar with the service, the number of transaction types that can be processed by the service will increase, providing further efficiencies for taxpayers. The IT system that will support the online service also has the capacity to share data with key ACT government stakeholders. Strict security procedures and protocols will ensure system integrity.
The bill amends the Duties Act to allow the Commissioner for ACT Revenue to approve persons who will be able to access the online service. Approved persons must provide details of a cleared funds bank account to enable the revenue office to debit the nominated financial institution account for every transaction. The approval can be conditional and can be amended if required.
A new provision in the Duties Act requires an approved person to apply to the commissioner for approval to make electronic assessments of the tax liability of a taxpayer. For the purpose of the online service, documents are deemed to be lodged with the commissioner when a transaction is processed online, and are taken to be “stamped” when a unique authorisation number is provided. Several provisions relating to stamping have been amended to accommodate the electronic authorisation of these transactions.
It is already an offence if someone other than the commissioner endorses an instrument. This bill expands this offence to encompass the new processes for endorsing documents through the online service. It is now an offence if anyone other than the commissioner does anything that indicates that the commissioner has endorsed an instrument or given a unique authorisation number.
The bill also amends the Taxation Administration Act. The current record-keeping provisions require the taxpayer to retain the relevant documentation necessary to enable the tax liability for a particular transaction or instrument to be properly assessed. These provisions have been extended so that, where an approved person uses the electronic lodgment and payment service on behalf of the taxpayer, the approved person must keep all necessary documentation.
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