EXPLANATORY STATEMENT
Issued by authority of the Minister for Revenue
and Assistant Treasurer
Tax Laws Amendment (2005 Measures No. 4) Act 2005
Proclamation
Subsection 2(1) of the Tax Laws Amendment (2005 Measures No. 4) Act 2005 (the Act) provides that Schedule 4 to the Act commences on a day to be fixed by Proclamation. However, if any of the provisions of Schedule 4 did not commence within twelve months of the date the Act received the Royal Assent, then those provisions would have commenced on the first day after the end of that twelve month period. The Act received the Royal Assent on 19 December 2005.
The purpose of the Proclamation was to fix 6 June 2006 as the day on which Schedule 4 to the Act commenced.
Schedule 4 to the Act amended the A New Tax System (Wine Equalisation Tax) Act 1999 to create a specific scheme to provide the wine producer rebate to New Zealand wine producers whose wine is exported to the Australian market.
The commencement date could not be before New Zealand put in place complementary compliance legislation. This legislation was enacted prior to the commencement date.
The Proclamation is a legislative instrument for the purposes of the Legislative Instruments Act 2003.
Consultation was not undertaken in relation to this instrument because it is minor or machinery in nature.