Australian Capital Territory Tax (Hire‑purchase Business) Act 1969
Act No. 44 of 1969 as amended
[Note: This Act was repealed by Act No. 8 of 2007 on 15 March 2007]
This compilation was prepared on 30 October 2000
taking into account amendments up to Act No. 62 of 1987
The text of any of those amendments not in force
on that date is appended in the Notes section
The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section
Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra
Contents
1 Short title [see Note 1]...........................
2 Commencement [see Note 1].......................
3 Incorporation.................................
3A Termination of tax..............................
4 Imposition of tax...............................
5 Rate of tax..................................
6 Exemptions..................................
7 Regulations..................................
Notes
An Act relating to the Imposition of Tax in respect of certain Hire‑purchase Agreements executed in the Australian Capital Territory
1 Short title [see Note 1]
This Act may be cited as the Australian Capital Territory Tax (Hire‑purchase Business) Act 1969.
2 Commencement [see Note 1]
This Act shall come into operation on a date to be fixed by Proclamation.
3 Incorporation
The Australian Capital Territory Taxation (Administration) Act 1969 is incorporated and shall be read as one with this Act.
3A Termination of tax
Tax is not imposed on a hire‑purchase agreement that is entered into on or after the termination day.
4 Imposition of tax
Subject to this section, tax is imposed on the purchase price under a hire‑purchase agreement:
(a) under which the owner is a registered owner; and
(b) that is entered into in the Territory after the commencement of this Act.
5 Rate of tax
The rate of tax is one and a quarter per centum of the purchase price under the hire‑purchase agreement.
6 Exemptions
Tax is not imposed on:
(a) a hire‑purchase agreement under which the purchase price does not exceed One hundred dollars;
(b) a hire‑purchase agreement entered into by an authority of the Commonwealth or of a Territory prescribed for the purposes of this paragraph;
(c) a hire‑purchase agreement under which the hirer is:
(i) a member of a diplomatic mission in Australia of the government of another country that does not impose stamp duty or any similar tax on hire‑purchase agreements or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption; or
(ii) a member of his family forming part of his household;
being a person who is not an Australian citizen or is not ordinarily resident in Australia; or
(d) a hire‑purchase agreement under which the hirer is a public hospital, public benevolent institution, religious institution or public educational institution.
7 Regulations
The Governor‑General may make regulations for the purposes of paragraph 6(b).
Notes to the Australian Capital Territory Tax (Hire-purchase Business) Act 1969
Note 1
The Australian Capital Territory Tax (Hire‑purchase Business) Act 1969 as shown in this compilation comprises Act No. 44, 1969 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 |
Australian Capital Territory Tax (Hire‑purchase Business) Act 1969 | 44, 1969 | 14 June 1969 | 1 July 1969: (see Gazette 1969, p. 3691) | |
Taxation Laws Amendment Act (No. 3) 1985 | 168, 1985 | 16 Dec 1985 | Part II (ss. 3–9): 1 Jan 1986
Parts IV–VI (ss. 12–17): 1 July 1969
Remainder: Royal Assent | — |
Taxation Laws Amendment Act (No. 2) 1987 | 62, 1987 | 5 June 1987 | S. 59: 1 Aug 1987 (see Gazette 1987, No. S191) (a) | S. 58 |
|
(a) The Australian Capital Territory Tax (Hire‑purchase Business) Act 1969 was amended by section 59 only of the Taxation Laws Amendment Act (No. 2) 1987, subsection 2(8) of which provides as follows:
(8) Part VIII shall come into operation on a day, or respective days, to be fixed by Proclamation.
Table of Amendments
ad. = added or inserted am. = amended rep. = repealed rs. = repealed and substituted |
Provision affected | How affected |
S. 3A................... | ad. No. 62, 1987 |
S. 7.................... | ad. No. 168, 1985 |
Overview
The Australian Capital Territory Tax (Hire-purchase Business) Act 1969 was enacted by the Parliament of the Australian Capital Territory to introduce a tax on hire-purchase agreements executed within the Territory. The primary objective of this Act was to generate revenue by imposing a tax on the purchase price of goods under such agreements, thereby addressing a fiscal need in the region. The Act specifies that tax is imposed on the purchase price under a hire-purchase agreement, provided the owner is registered and the agreement is entered into after the Act's commencement. However, certain agreements are exempt from this tax, including those with a purchase price under a specified threshold, agreements involving certain government entities, and those involving non-residents and specific types of institutions. The Act was repealed by the Australian Capital Territory Laws (Miscellaneous Amendments) Act 2007 on 15 March 2007.
Scope and Application
The Australian Capital Territory Tax (Hire-purchase Business) Act 1969 governs the imposition of tax on hire-purchase agreements executed within the Australian Capital Territory. This Act applies to registered owners and agreements entered into after its commencement, with specific provisions for the rate of tax, exemptions, and regulations. The tax rate is set at one and a quarter per centum of the purchase price. Exemptions include agreements with a purchase price under one hundred dollars, those entered into by Commonwealth or Territory authorities, agreements involving diplomatic personnel or their families under certain conditions, and agreements with public hospitals, benevolent institutions, religious institutions, or educational institutions. The Act incorporates the Australian Capital Territory Taxation (Administration) Act 1969, and the Governor-General has the authority to make regulations to further define the scope of exemptions. This Act was repealed by the Australian Capital Territory Laws (Consequential and Transitional Provisions) Act 2006 on 15 March 2007, although its provisions and amendments are noted in this compilation for reference.
Key Provisions
The Australian Capital Territory Tax (Hire-purchase Business) Act 1969 (hereafter referred to as the Act) imposes a tax on the purchase price under a hire-purchase agreement executed within the Territory after the Act's commencement (s. 4). This tax is applicable to agreements where the owner is a registered owner (s. 4(a)) and is calculated at a rate of one and a quarter per centum of the purchase price (s. 5). However, certain agreements are exempt from this tax. For instance, hire-purchase agreements with a purchase price not exceeding One hundred dollars (s. 6(a)), agreements entered into by specified Commonwealth or Territory authorities (s. 6(b)), and those involving specific categories of hirers such as diplomatic personnel and their families, public hospitals, benevolent institutions, religious institutions, and public educational institutions (s. 6(c) and (d)) are not subject to the tax.
The Act imposes several obligations on parties involved in hire-purchase agreements. Firstly, it requires that the tax be paid on the purchase price under the agreement, subject to the specified conditions and exemptions (s. 4). Secondly, the Act mandates that the Australian Capital Territory Taxation (Administration) Act 1969 be read in conjunction with this Act, ensuring a cohesive framework for tax administration and enforcement (s. 3). Furthermore, the Act provides for the termination of the tax on hire-purchase agreements entered into on or after a specified termination day, as determined by a proclamation (s. 3A).
Violation of the Act's provisions can result in civil or criminal penalties. Although the specific penalties are not detailed in the provided text, it is common for breaches of tax legislation to incur fines and, in severe cases, criminal charges. Given the nature of tax laws, the penalties could include substantial fines, and in cases of willful or repeated breaches, imprisonment may be imposed. However, the exact maximum penalties would need to be referred to in the regulations or specific sections of related Acts not provided in this excerpt. The Act also empowers the Governor-General to make regulations for certain purposes, such as those relating to exemptions (s. 7). These regulations would detail the specific procedures and additional obligations for compliance.