A New Tax System (Goods and Services Tax) (Business Vehicle Use Fraction) Determination 2003 (Cth)

A New Tax System (Goods and Services Tax) (Business Vehicle Use Fraction) Determination 2003

I, NICHOLAS HUGH MINCHIN, Minister for Finance and Administration, make this Determination under subsection 79-100 (1) of the A New Tax System (Goods and Services Tax) Act 1999.

Dated 2 July 2003

NICK MINCHIN

Minister for Finance and Administration

for the Minister for Revenue and Assistant Treasurer

1. Name of Determination

This Determination is the A New Tax System (Goods and Services Tax) (Business Vehicle Use Fraction) Determination 2003.

1. Commencement

This Determination is taken to have commenced on 1 July 2003.

1. Business vehicle use fraction

For subsection 79-100 (2) of the A New Tax System (Goods and Services Tax) Act 1999, the business vehicle use fraction for each compulsory third party scheme mentioned in Schedule 1 is specified in that Schedule.

Schedule 1          Business vehicle use fractions

(section 3)

Item	Compulsory third party scheme	Australian law	Fraction
1	Compensation scheme for victims of motor accidents	Motor Accidents Act 1988 (NSW) Motor Accidents Compensation Act 1999 (NSW)	36/100 36/100
2	Compulsory third party transport accident compensation scheme	Transport Accident Act 1986 (Vic)	31/100
3	Statutory insurance scheme	Motor Accident Insurance Act 1994 (Qld)	38/100
4	Compulsory third party insurance scheme	Motor Vehicle (Third Party Insurance) Act 1943 (WA)	36/100
5	Third party insurance scheme	Motor Vehicles Act 1959 (SA)	33/100
6	Compulsory third party insurance scheme	Road Transport (General) Act 1999 (ACT)	25/100
7	Motor accidents compensation scheme	Motor Accidents (Compensation) Act (NT)	47/100
8	Motor accidents insurance scheme	Motor Accidents (Liabilities and Compensation) Act 1973 (Tas)	33/100