2008

The Legislative Assembly for

Australian Capital Territory

Duties Amendment Bill 2008 (No 2)

Explanatory Statement

Circulated by authority of
Treasurer
Jon Stanhope MLA
Duties Amendment Bill 2008 (No 2)

Summary
This Bill amends the Duties Act 1999.  

Overview
The Duties Act 1999 is amended to insert a new section which will provide that an instrument made under section 139 the Taxation Administration Act 1999, for this new section, may apply, adopt or incorporate an instrument as in force from time to time.  
Section 139 of the Taxation Administration Act 1999 (Amounts payable under tax laws) allows the Minister to determine rates (including differential rates), taxes, duties, fees etc for tax laws including the Duties Act 1999.

Details of the Duties Amendment Act 2008 (No 2)
Clause 1 - Name of Act
This Act is the Duties Amendment Act 2008 (No 2).  

Clause 2 – Commencement
This Act commences on the day after its notification.  

Clause 3 – Legislation amended 
This Act amends the Duties Act 1999.  

Clause 4 – Rate of Duty – New section 208 (3)
This clause provides that a determination for this section that is made under section 139 of the Taxation Administration Act 1999, may apply, adopt or incorporate an instrument that is subject to frequent change.  

The Green Vehicle Guide (GVG) is provided as the example instrument as it is updated frequently.