Australian
Capital Territory Tax (Insurance Business) Amendment Act 1981
No. 125 of 1981
An
Act to amend the Australian Capital
Territory Tax (Insurance Business) Act 1969
[Assented to 30 September 1981]
BE
IT ENACTED by the Queen, and the Senate and the House of Representatives of the
Commonwealth of Australia, as follows:
Short
title, &c.
1.
(1) This
Act may be cited as the Australian
Capital Territory Tax (Insurance
Business) Amendment Act 1981.
(2)
The Australian Capital Territory Tax (Insurance Business) Act 19691 is in this Act referred to as the Principal
Act.
Commencement
2. This Act shall be
deemed to have come into operation on 19 August 1981.
3. (1) Section 5 of the Principal Act is repealed and the following
section is substituted:
Rate
of tax
“5. The rate of tax is
7% of the premiums on which tax is imposed by section 4.”.
(2)
The
amendment made by sub-section (1) applies in relation to the premiums received
by an insurer in respect of insurance effected, on or after the day on which
this Act comes into operation, by the insurer.
NOTE
1. No. 45, 1969,
as amended. For previous amendments, see No. 216, 1973.