Page 3875 - Week 12 - Thursday, 23 November 2006
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management discussion and analysis; the fund’s financial report; the Audit-General’s independent audit report; the financial report; the fund’s statement of performance; the Auditor-General’s report of factual findings; and the statement of performance.
Since publication of the Chief Minister’s Department annual report, the Auditor-General’s Office has issued a revised independent audit report and a revised report of factual findings, with incorrect references to the Financial Management Act 1996 removed. This corrigendum replaces the respective pages contained in the published report.
Utilities (Network Facilities Tax) Bill 2006
Papers and statement by minister
MR STANHOPE (Ginninderra—Chief Minister, Treasurer, Minister for Business and Economic Development, Minister for Indigenous Affairs and Minister for the Arts): For the information of members, I present the following papers.
Utilities (Network Facilities Tax) Bill 2006—
Exposure draft.
Draft explanatory statement.
Tabling speech.
I seek leave to make a statement in relation to the paper.
Leave granted.
MR STANHOPE: I am tabling an exposure draft of the Utilities (Network Facilities Tax) Bill 2006. I am proposing to introduce and debate this bill in the December 2006 sitting. In recognition of the short sitting, I am providing an exposure draft to allow more reasonable time to consider its contents. I am also offering a full briefing to all members. I will confirm this by letter.
I regret the necessity to consider this legislation within this time frame; however, it is important to do so in view of the proposed introduction of the tax with effect from 1 January and in view of the significance of the estimated revenues for the territory. While the tax will not become payable by utilities until later in 2007, it is important that, where the utilities can pass the costs through to customers, they be able to do so from 1 January 2007.
The bill establishes a tax on owners of utility network facilities on land within the ACT and amends the Taxation Administration Act 1999. The purpose of the amendment is to include the Utilities (Network Facilities Tax) Act 2006 as the tax law. This bill facilitates implementation of an important component of the territory’s budgetary status for 2006-07 and the future.
This is one of the revenue measures that will enable us to continue to deliver the important services the community expects and demands. This important revenue measure was announced in the 2006-07 budget as the utility land use permit.
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