Debits Tax Repeal Bill 2005 (Qld)

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Queensland

Debits Tax Repeal Bill 2005

Queensland

Debits Tax Repeal Bill 2005

Contents Page 1 Shorttitle 2.0... eee 4 2 Commencement. ... 0.0... 500 cece eee eee 4 3 Interpretation .. 2.0... 6 cette 4 4 Repeal of Debits Tax Act 1990...............00...000 0 eee 4 5 Saving provision for pre-repeal debits ..................... 4 6 Commissioner's power to delegate for administration of repealed Act eee 5 Validation and continuation of particular delegations.......... 5

8 Consequential amendment of Freedom of Information Act 1992. 6

A Bill

for

An Act to repeal the Debits Tax Act 1990, and for related matters

sl 4 s5 Debits Tax Repeal Bill 2005

The Parliament of Queensland enacts—

1 Short title This Act may be cited as the Debits Tax Repeal Act 2005.

2 Commencement This Act commences on 1 July 2005.

3 Interpretation (1) In this Act—

pre-repeal debit means a debit made to an account before 1 July 2005.

(2) If the context permits, a term used in this Act and defined in the repealed Debits Tax Act 1990 or the applied provisions has the meaning given under that Act or the applied provisions.

4 Repeal of Debits Tax Act 1990 The Debits Tax Act 1990 No. 97 is repealed.

5 Saving provision for pre-repeal debits

The repealed Debits Tax Act 1990 continues to apply for rights, privileges and liabilities that would have been acquired, accrued or incurred on or after 1 July 2005 in relation to a pre-repeal debit if that Act had not been repealed.

Examples of how the repealed Debits Tax Act 1990 continues to apply under this section—

* a person may be required to lodge a return or pay tax, including additional tax, on or after 1 July 2005 in relation to a pre-repeal debit

¢ a financial institution may recover from an account holder tax paid on or after 1 July 2005 in relation to a pre-repeal debit