Family Assistance Estimate Tolerance (Transition) Act 2001 (Cth)

Family Assistance Estimate Tolerance (Transition) Act 2001

No. 138, 2001

An Act to amend the A New Tax System (Family Assistance) (Administration) Act 1999, and for related purposes

Contents

Family Assistance Estimate Tolerance (Transition) Act 2001

No. 138, 2001

An Act to amend the A New Tax System (Family Assistance) (Administration) Act 1999, and for related purposes

[Assented to 1 October 2001]

The Parliament of Australia enacts:

1Short title

This Act may be cited as the Family Assistance Estimate Tolerance (Transition) Act 2001.

2Commencement

This Act commences on the day on which it receives the Royal Assent.

3Schedule(s)

Each Act that is specified in a Schedule to this Act is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this Act has effect according to its terms.

Schedule 1—Amendments

A New Tax System (Family Assistance) (Administration) Act 1999

1

Subsection 102(1)

After “recover debts”, insert “, or parts of debts,”.

2

After subsection 102(1)

Insert:

1. (1A)

   A determination by the Minister under subsection (1):

   1. (a)

      may specify conditions to be met before the Secretary exercises the power to waive debts, or parts of debts, in the specified class; and

   2. (b)

      may specify limits on the amounts to be waived in relation to debts in the specified class.

The Secretary must exercise the power to waive in accordance with any conditions or limits specified in the Minister’s determination.

[Minister’s second reading speech made in—

Senate on 22 August 2001

House of Representatives on 27 September 2001]

(161/01)