2012

THE LEGISLATIVE ASSEMBLY FOR THE
AUSTRALIAN CAPITAL TERRITORY

TAXATION (GOVERNMENT BUSINESS ENTERPRISES) AMENDMENT REGULATION 2012 (No 1)

SL2012-8

EXPLANATORY STATEMENT

Circulated with the authority of
Mr Andrew Barr MLA
Treasurer
TAXATION (GOVERNMENT BUSINESS ENTERPRISES) AMENDMENT REGULATION 2012 (No 1)

PURPOSE

Regulations created under section 11 of the Taxation (Government Business Enterprises) Act 2003 (‘the Act’) list those Territory entities that are to be subject to the Act.

The ACT Teacher Quality Institute is currently listed under section 4 of the Taxation (Government Business Enterprises) Regulation 2003 (‘the Regulations’) as being subject to Territory taxes and charges under section 9 of the Act.  As the ACT Teacher Quality Institute does not undertake significant business activities, the purpose of the Taxation (Government Business Enterprises) Amendment Regulation 2012 (No 1) is to omit the ACT Teacher Quality Institute from section 4 of the Regulations.  This will remove the ACT Teacher Quality Institute from section 9 of the Act in recognition that it should not be subject to competitive neutrality principles.

DETAILS OF THE AMENDING REGULATION

Clause 1 states that the name of the regulation as the Taxation (Government Business Enterprises) Amendment Regulation 2012 (No 1).

Clause 2 provides that the regulation is to commence from 1 July 2011.  The amendment regulation has been drafted to apply retrospectively, recognising that section 4 of the Regulations should not have been applied to the ACT Teacher Quality Institute as it does not conduct significant business activities.

Clause 3 provides that this regulation amends the Taxation (Government Business Enterprises) Regulation 2003.

Clause 4 omits ACT Teacher Quality Institute from the list of entities under section 4 of the Taxation (Government Business Enterprises) Regulation 2003 that are subject to Territory taxes and charges.

REGULATORY IMPACT STATEMENT

A Regulatory Impact Statement was not required for Taxation (Government Business Enterprises) Amendment Regulation 2012 (No 1) as it does not pose an appreciable cost on the community.