Taxation Administration Regulations 2021 (Tas)

Taxation Administration Regulations 2021

I, the Governor in and over the State of Tasmania and its Dependencies in the Commonwealth of Australia, acting with the advice of the Executive Council, make the following regulations under the Taxation Administration Act 1997 .

22 November 2021

B. BAKER

Governor

By Her Excellency's Command,

MICHAEL DARREL JOSEPH FERGUSON

Minister for Finance

1. Short title These regulations may be cited as the Taxation Administration Regulations 2021 .

2. Commencement These regulations take effect on 15 December 2021.

3. Interpretation In these regulations – Act means the Taxation Administration Act 1997 ; associated person has the same meaning as in the Duties Act 2001 ; business assets means land, an interest in land, or goods, which are predominantly for – (a) the business of wholesale or retail sale of goods or services; or (b) the business of manufacturing; or (c) a primary production business; or (d) purposes that are ancillary to the running of a business; dutiable property has the same meaning as in the Duties Act 2001 ; dutiable transaction has the same meaning as in the Duties Act 2001 ; dutiable value, in relation to dutiable property, has the same meaning as in the Duties Act 2001 ; interest, in relation to land, has the same meaning as in the Duties Act 2001 ; land has the same meaning as in the Duties Act 2001 ; subsequent transaction has the same meaning as in section 36B(3) of the Duties Act 2001 ; unencumbered value has the same meaning as in the Duties Act 2001 .

4. Conditions of approval (1) In this regulation – specified means specified in a notice of approval, or subsequent notice, as referred to in section 51(1) of the Act. (2) If an approval is given to a taxpayer or agent under section 49 of the Act, the Commissioner may require, as a condition of that approval, the taxpayer or agent to comply with the specified conditions in relation to endorsing and submitting a return, or paying tax, in respect of a specified instrument.