2004
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Revenue Legislation Repeal Bill 2004

Contents
	Page
	1	Name of Act	2
	2	Commencement	2
	3	Notes	2
	4	Legislation repealed	2
	5	Debits Tax Act 1997, new part 6	2
	6	Credit Act 1985, section 75 (1)	3
	7	Credit Act 1985, section 75 (2)	3
	8	Credit Act 1985, section 75A	3
	9	State Bank of South Australia (Transfer of Undertaking) Act 1994, section 12	3

2004
THE LEGISLATIVE ASSEMBLY
FOR THE AUSTRALIAN CAPITAL TERRITORY

(As presented)
(Treasurer)
Revenue Legislation Repeal Bill 2004

A Bill for
An Act for the repeal of certain revenue legislation, and for other purposes

    

The Legislative Assembly for the Australian Capital Territory enacts as follows:

1	Name of Act
This Act is the Revenue Legislation Repeal Act 2004.
2	Commencement
This Act commences on the day after its notification day.
Note	The naming and commencement provisions automatically commence on the notification day (see Legislation Act, s 75 (1)).
3	Notes
A note included in this Act is explanatory and is not part of this Act.
Note	See the Legislation Act, s 127 (1), (4) and (5) for the legal status of notes.
4	Legislation repealed
This Act repeals the following legislation:
·	Financial Institutions Duty Act 1987 A1987-43
·	Financial Institutions Duty Regulation 1990 SL1990-17.
5	Debits Tax Act 1997, new part 6
insert
Part 6	End of effect of Act
23	No liability for debits from 1 July 2005
	(1)	A person is not liable under section 11 (1) to pay tax on a taxable debit made on or after 1 July 2005 to a taxable account.
	(2)	A person is not liable under section 11 (2) to pay tax on an eligible debit made on or after 1 July 2005 to an account other than a taxable account.
24	No returns required for months from July 2005
A financial institution is not required to give a return under section 17 (Return in respect of taxable debits) for any month after June 2005.
25	Expiry of Act from 1 July 2006
This Act expires on 30 June 2006.
6	Credit Act 1985, section 75 (1)
omit
Subject to section 75A, an agreement
substitute
An agreement
7	Credit Act 1985, section 75 (2)
omit
Subject to section 75A, any amount
substitute
Any amount
8	Credit Act 1985, section 75A
omit 
9	State Bank of South Australia (Transfer of Undertaking) Act 1994, section 12
omit

Endnotes
1	Presentation speech
	Presentation speech made in the Legislative Assembly on	2004.
2	Notification
	Notified under the Legislation Act on	2004.
3	Republications of amended laws
	For the latest republication of amended laws, see www.legislation.act.gov.au.

© Australian Capital Territory 2004