Sales Tax Assessment Amendment (Deficit Reduction) Act 1993 (Cth)

Sales Tax Assessment Amendment (Deficit Reduction) Act 1993

Act No. 44 of 1993 as amended

This compilation was prepared on 16 October 2000

taking into account amendments up to Act No. 94 of 1995

The text of any of those amendments not in force

on that date is appended in the Notes section

Prepared by the Office of Legislative Drafting,

Attorney‑General’s Department, Canberra

Contents

An Act to amend the Sales Tax Assessment Act 1992, and for related purposes

Part 1Preliminary1Short title etc. [see Note 1]

1. (1)

   This Act may be cited as the Sales Tax Assessment Amendment (Deficit Reduction) Act 1993.

2. (2)

   In this Act, Principal Act means the Sales Tax Assessment Act 1992.

2Commencement [see Note 1]

1. (1)

   Parts 1 and 2 are taken to have commenced on 18 August 1993.

2. (2)

   Part 3 and the Schedule commence on 1 July 1995.

Part 2Amendments commencing on 18 August 19933General definitions

Section 5 of the Principal Act is amended by inserting the following definition:

“motor vehicle depreciation limit means the motor vehicle depreciation limit that applies under section 57AF of the Income Tax Assessment Act 1936;”.

4Insertion of new section

After section 42 of the Principal Act the following section is inserted:

“42ALuxury motor cars

“(1) This section applies to a taxable dealing with goods covered by Item 1 in Schedule 6 to the Exemptions and Classifications Act, other than goods to which section 49 of this Act applies.

“(2)

If the goods are a motor vehicle that is a passenger motor vehicle for the purposes of heading 8703 in Schedule 3 to the Customs Tariff and that is covered by that heading (or that would be covered by that heading if it were imported), the taxable value is reduced by:

“(3)

If the goods are not covered by subsection (2), the taxable value is reduced by:

5Luxury motor vehicle for disabled person

Section 49 of the Principal Act is amended by omitting subsection (2) and substituting the following subsection:

“(2)

The exempt part is 67.1% of the motor vehicle depreciation limit for the financial year in which the taxable dealing happens.”.

6Appendix A

Appendix A to the Principal Act is amended:

1. (a)

   by omitting “10%” (wherever occurring) and substituting “11%”;

2. (b)

   by omitting “$10” (wherever occurring) and substituting “$11”;

3. (c)

   by omitting $110 (wherever occurring) and substituting “$111”;

4. (d)

   by omitting “$140” (wherever occurring) and substituting “$141”.

7Application of amendments

The amendments made by this Part apply to dealings with goods on or after 18 August 1993.

Part 3Amendments commencing on 1 July 19958Schedule

The Principal Act is amended as set out in the Schedule.

9Application of amendments

The amendments made by this Part apply to dealings with goods on or after 1 July 1995.

Schedule—Amendments Commencing on 1 July 1995

Section 8

AppendixA:

1. (a)

   Omit “11%” (wherever occurring), substitute “12%”.

2. (b)

   Omit “$11” (wherever occurring), substitute “$12”.

3. (c)

   Omit “$111” (wherever occurring), substitute “$112”.

4. (d)

   Omit “$141” (wherever occurring), substitute “$142”.

Notes to theSales Tax Assessment Amendment (Deficit Reduction) Act 1993

Note 1

The Sales Tax Assessment Amendment (Deficit Reduction) Act 1993 as shown in this compilation comprises Act No. 44, 1993 amended as indicated in the Tables below.

Table of Acts

Act Number and year Date of Assent Date of commencement Application, saving or transitional provisions

Sales Tax Assessment Amendment (Deficit Reduction) Act 1993	44, 1993	19 Oct 1993	Parts 1 and 2 (ss. 1‑7): 18 Aug 1993 Part 3 (ss. 8, 9): 1 July 1995
Taxation Laws Amendment (Budget Measures) Act 1995	94, 1995	27 July 1995	Schedule 3 (Part 2 (items 5, 6)): 1 July 1995 Schedule 9: Royal Assent Remainder: 9 May 1995	—

Table of Amendments

ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted
Provision affected	How affected
Schedule..................................	am. No. 94, 1995