Debits Tax Regulations (NT)

NORTHERN TERRITORY OF AUSTRALIA

Debits Tax regulations

As in force at 1 July 2008

Table of provisions [if supportFields]><span style='mso-element:field-begin'></span><span style='mso-spacerun:yes'>&#160;</span>TOC \o &#34;1-9&#34; <span style='mso-element: field-separator'></span><![endif] — Citation2 — Commencement3 — Exempt debit4 — Excluded debitENDNOTES northern territory of australia

northern territory of australia

This reprint shows the Regulations as in force at 1 July 2008.  Any amendments that commence after that date are not included.

Debits Tax regulations

Regulations under the Debits Tax Act

1Citation

These Regulations may be cited as the Debits Tax Regulations.

2Commencement

These Regulations shall come into operation or, as the case may be, shall be deemed to have come into operation, on 1 July 1993.

3Exempt debit

A debit made for the purpose of recovering from the account holder an amount in respect of an amount of duty paid under the Financial Institutions Duty Act is a kind of debit for the purposes of paragraph (c) of the definition of exempt debit in section 3(1) of the Debits Tax Administration Act 1982 of the Commonwealth as applying as a law of the Territory by reason of section 10 of the Debits Tax Act.

4Excluded debit

A debit made to an account that is:

• (a)

  a trust account included in a class of trust accounts approved by the Commissioner for the purposes of this provision; and

• (b)

  established and maintained solely or primarily for the collection and payment of stamp duty in accordance with permission granted by the Commissioner under section 17A of the Taxation (Administration) Act as in force before 1 January 2008,

is a kind of debit for the purposes of paragraph (d) of the definition of excluded debit in section 3(1) of the Debits Tax Administration Act 1982 of the Commonwealth as applying as a law of the Territory by reason of section 10 of the Debits Tax Act.

ENDNOTES

• 1

  KEY

Key to abbreviations

 

amd = amended od = order

app = appendix om = omitted

bl = by-law pt = Part

ch = Chapter r = regulation/rule

cl = clause rem = remainder

div = Division renum = renumbered

exp = expires/expired rep = repealed

f = forms s = section

Gaz = Gazette sch = Schedule

hdg = heading sdiv = Subdivision

ins = inserted SL = Subordinate Legislation

lt = long title sub = substituted

nc = not commenced

• 2

  LIST OF LEGISLATION

Debits Tax Regulations (SL No. 18, 1993)
Notified	29 June 1993
Commenced	1 July 1993 (r 2)
Amendments of Debits Tax Regulations (SL No. 32, 1999)
Notified	1 November 1999
Commenced	1 November 1999 (r 1)
Revenue Law Reform (Budget Initiatives) Act 2008 (Act No. 23, 2008)
Assent date	30 June 2008
Commenced	pt 1, ss 3, 12(1), 18 and 19: 1 January 2008; ss 7, 10 and 11(1): 6 May 2008; rem: 1 July 2008 (s 2)

• 3

  LIST OF AMENDMENTS

r 3                     amd No. 32, 1999, r 2

r 4                     ins No. 32, 1999, r 3

amd Act No. 23, 2008, s 21