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This is a Bill, not an Act. For current law, see the Acts databases.
New South Wales
State Revenue Legislation Amendment
(Budget) Bill 2002
Contents
Page
1 Name of Act 2
2 Commencement 2
3 Amendment of Apprenticeship and Traineeship Act 2001
No 80 2
4 Amendment of Betting Tax Act 2001 No 43 2
5 Amendment of Duties Act 1997 No 123 2
6 Amendment of Pay-roll Tax Act 1971 No 22 2
7 Amendment of Racing Administration Act 1998 No 114 2
8 Amendment of Taxation Administration Act 1996 No 97 2
Schedules
1 Amendment of Apprenticeship and Traineeship Act 2001 3
2 Amendment of Betting Tax Act 2001 4
3 Amendment of Duties Act 1997 5
4 Amendment of Pay-roll Tax Act 1971 8
5 Amendment of Racing Administration Act 1998 12
6 Amendment of Taxation Administration Act 1996 15
I certify that this PUBLIC BILL, which originated in the LEGISLATIVE ASSEMBLY, has
finally passed the LEGISLATIVE COUNCIL and the LEGISLATIVE ASSEMBLY of NEW
SOUTH WALES.
Clerk of the Legislative Assembly.
Legislative Assembly,
Sydney, , 2002
New South Wales
State Revenue Legislation Amendment
(Budget) Bill 2002
Act No , 2002
An Act to make miscellaneous amendments to certain State revenue legislation; and
for other purposes.
I have examined this Bill, and find it to correspond in all respects with the Bill as
finally passed by both Houses.
Chairman of Committees of the Legislative Assembly.
Clause 1 State Revenue Legislation Amendment (Budget) Bill 2002
The Legislature of New South Wales enacts:
1 Name of Act
This Act is the State Revenue Legislation Amendment (Budget) Act
2002.
2 Commencement
(1) This Act commences on the date of assent, except as provided by this
section.
(2) The following provisions commence, or are taken to have commenced,
on the dates indicated:
section 4 and Schedule 2 on 31 March 2002
section 5 and Schedule 3 on 4 June 2002
section 6 and Schedule 4 on 1 July 2002
3 Amendment of Apprenticeship and Traineeship Act 2001 No 80
The Apprenticeship and Traineeship Act 2001 is amended as set out
in Schedule 1.
4 Amendment of Betting Tax Act 2001 No 43
The Betting Tax Act 2001 is amended as set out in Schedule 2.
5 Amendment of Duties Act 1997 No 123
The Duties Act 1997 is amended as set out in Schedule 3.
6 Amendment of Pay-roll Tax Act 1971 No 22
The Pay-roll Tax Act 1971 is amended as set out in Schedule 4.
7 Amendment of Racing Administration Act 1998 No 114
The Racing Administration Act 1998 is amended as set out in
Schedule 5.
8 Amendment of Taxation Administration Act 1996 No 97
The Taxation Administration Act 1996 is amended as set out in
Schedule 6.
Page 2
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Apprenticeship and Traineeship Act 2001 Schedule 1
Schedule 1 Amendment of Apprenticeship and
Traineeship Act 2001
(Section 3)
Section 28 Register of apprenticeships and traineeships
Insert after section 28 (3):
(4) The Commissioner is to provide to the Chief Commissioner of
State Revenue or an authorised officer within the meaning of
the Taxation Administration Act 1996 such information
contained in the register as may be requested from time to time
by the Chief Commissioner or authorised officer.
Page 3
State Revenue Legislation Amendment (Budget) Bill 2002
Schedule 2 Amendment of Betting Tax Act 2001
Schedule 2 Amendment of Betting Tax Act 2001
(Section 4)
Section 5A
Insert after section 5:
5A Abolition of betting tax on bookmakers
(1) Despite section 6, betting tax is not payable on bets made by
backers with any bookmaker on any event or contingency
relating to a horse race, harness race or greyhound race, being
a race held at any time after 30 March 2002.
(2) Despite section 7, betting tax is not payable on bets made by
backers with any bookmaker on the outcome of any event or
contingency relating to a sports betting event held at any time
after 30 March 2002.
(3) Despite section 13, 15 or 16, a return is not required to be
prepared or lodged under any of those sections in respect of a
week beginning after 30 March 2002.
(4) Despite section 14, a return is not required to be prepared or
lodged under that section in relation to a race meeting
conducted at any time after 30 March 2002.
(5) Despite section 17, a written record is not required to be kept
under that section of a bet made in relation to a horse race,
harness race or greyhound race, or a sports betting event, held
at any time after 30 March 2002.
Page 4
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Duties Act 1997 Schedule 3
Schedule 3 Amendment of Duties Act 1997
(Section 5)
[1] Sections 233 and 234
Omit the sections. Insert instead:
233 Types of general insurance
(1) For the purpose of charging duty, general insurance is divided
into 2 types, Type A insurance and Type B insurance.
(2) Type A insurance is general insurance other than Type B
insurance.
(3) Type B insurance is:
(a) crop insurance, being insurance covering:
(i) loss due to the destruction of, or physical
damage to, any pasturage or any crop of grain,
fruit, vegetables or other plants, where the
destruction or damage occurs while the
pasturage or crop is being grown, or
(ii) loss due to the destruction of, or physical
damage to, the product of any such pasturage or
crop, where the destruction or damage occurs
while the product of the pasturage or crop is
being stored or transported,
but not being insurance covering loss referred to in
subparagraph (ii) unless the contract by which the
insurance is effected also effects insurance covering the
loss referred to in subparagraph (i), or
(b) livestock insurance, being insurance covering:
(i) loss due to the death of, or physical damage to,
any animal, whether domesticated or wild, or
(ii) loss due to the death of, or physical damage to,
any genetic material of any such animal, or
(iii) loss due to the theft of any such animal or
genetic material, or
Page 5
State Revenue Legislation Amendment (Budget) Bill 2002
Schedule 3 Amendment of Duties Act 1997
(c) until 1 February 2005, insurance under the Debtor
Insurance Scheme of the Stock and Station Agents
Association.
234 What duty is payable?
(1) The amount of duty chargeable on the premium paid in relation
to a contract of insurance is 5% of the amount of the premium
to the extent to which the premium is paid to effect Type A
insurance.
(2) The amount of duty chargeable on the premium paid in relation
to a contract of insurance is 2.5% of the amount of the
premium to the extent to which the premium is paid to effect
Type B insurance.
[2] Section 253 Monthly returns and payment of duty
Omit section 253 (a) (i), (ii) and (iii). Insert instead:
(i) the total amount of all premiums for Type A
insurance paid to the registered insurer in the
preceding month, and
(ii) the total amount of all premiums for Type B
insurance paid to the registered insurer in the
preceding month, and
[3] Section 256 Schedule of Apportionment
Omit "classes" from section 256 (1). Insert instead "types".
[4] Section 258 Apportionment between different types of insurance
Omit "classes" from section 258 (2). Insert instead "types".
[5] Section 258 (3)
Omit "or classes".
[6] Schedule 1 Savings, transitional and other provisions
Insert at the end of clause 1 (1):
State Revenue Legislation Amendment (Budget) Act 2002
Page 6
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Duties Act 1997 Schedule 3
[7] Schedule 1
Insert at the end of Schedule 1 (with appropriate Part and clause numbers):
Part Provisions consequent on enactment of State
Revenue Legislation Amendment (Budget)
Act 2002
Insurance duty
(1) Sections 233 and 234 as substituted by the State Revenue
Legislation Amendment (Budget) Act 2002 have effect only in
relation to premiums paid on or after 4 June 2002 for contracts
of insurance and renewals of contracts of insurance that take
effect on or after 1 August 2002.
(2) Despite section 253, the Chief Commissioner may, having
regard to the substitution of sections 233 and 234 by the State
Revenue Legislation Amendment (Budget) Act 2002, determine
the categories of premiums to be shown in the form of a return
required to be lodged under that section on or before 21 June
2002 or a subsequent month.
Page 7
State Revenue Legislation Amendment (Budget) Bill 2002
Schedule 4 Amendment of Pay-roll Tax Act 1971
Schedule 4 Amendment of Pay-roll Tax Act 1971
(Section 6)
[1] Section 3AA Wages
Insert "or (6B)" after "subsection (5)" in section 3AA (6).
[2] Section 3AA (6B) and (6C)
Insert after section 3AA (6A):
(6B) Wages includes so much of any eligible termination payment
(within the meaning of section 27A of the Income Tax
Assessment Act 1936 of the Commonwealth) paid or payable
by an employer, whether or not paid to the employee or to any
other person or body, that would be included in the assessable
income of an employee under Subdivision AA of Division 2 of
Part III of that Act if the whole of the eligible termination
payment had been paid to the employee.
(6C) Wages referred to in subsection (6B) that are not paid in respect
of services performed or rendered by an employee in a
particular month are liable to pay-roll tax under this Act as if
they were paid or payable in respect of services performed or
rendered during the month in which they were paid or became
payable.
[3] Section 9
Omit the section. Insert instead:
9 Taxable value of fringe benefits
For the purposes of this Act, the value of taxable wages,
comprising a fringe benefit, is to be determined in accordance
with the formula:
1
TV ×
1 - FBT rate
Page 8
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Pay-roll Tax Act 1971 Schedule 4
where:
TV is the value that would be the taxable value of the benefit
as a fringe benefit for the purposes of the Fringe Benefits Tax
Assessment Act 1986 of the Commonwealth, and
FBT rate is the rate of fringe benefits tax imposed by the
Fringe Benefits Tax Act 1986 of the Commonwealth that
applies when the liability to pay-roll tax under this Act occurs.
[4] Section 10 Exemption from pay-roll tax
Insert after section 10 (1) (k):
(l) to an apprentice within the meaning of the
Apprenticeship and Traineeship Act 2001,
[5] Section 10 (2A)
Insert after section 10 (2):
(2A) Paragraph (l) of subsection (1) only operates to exclude from
wages liable to pay-roll tax under this Act wages which are
paid or payable under an apprenticeship contract (within the
meaning of the Apprenticeship and Traineeship Act 2001) but,
if an application for the approval of the apprenticeship to
which the contract relates is dismissed by the Commissioner for
Vocational Training (referred to in section 56 of that Act) or
the Vocational Training Tribunal of New South Wales
(constituted by section 59 of that Act), the exclusion ceases
when the application is dismissed.
[6] Section 10A Exemptions from pay-roll tax of wages of apprentices
Insert "and before 1 July 2002" after "1999" in section 10A (4).
[7] Section 13A Inclusion of fringe benefits in returns etc
Omit "the aggregate fringe benefits amount (within the meaning of section
136 of the Fringe Benefits Tax Assessment Act 1986 of the
Commonwealth)" from section 13A (2) (a) and (b) wherever occurring.
Insert instead "the amount determined in accordance with subsection (2A)".
Page 9
State Revenue Legislation Amendment (Budget) Bill 2002
Schedule 4 Amendment of Pay-roll Tax Act 1971
[8] Section 13A (2A)
Insert after section 13A (2):
(2A) The amount determined in accordance with this subsection is
to be determined in accordance with the formula:
1
AFBA ×
1 - FBT rate
where:
AFBA is the aggregate fringe benefits amount (within the
meaning of section 136 of the Fringe Benefits Tax Assessment
Act 1986 of the Commonwealth), and
FBT rate is the rate of fringe benefits tax imposed by the
Fringe Benefits Tax Act 1986 of the Commonwealth that
applies when the liability to pay-roll tax under this Act occurs.
[9] Schedule 6 Savings, transitional and other provisions
Insert at the end of clause 1 (1):
State Revenue Legislation Amendment (Budget) Act 2002
[10] Schedule 6, Part 7
Insert after Part 6:
Part 7 Provisions consequent on enactment of State
Revenue Legislation Amendment (Budget)
Act 2002
10 Eligible termination payments
The amendment made to section 3AA by the State Revenue
Legislation Amendment (Budget) Act 2002 applies to and in
respect of eligible termination payments paid or payable on or
after 1 July 2002.
Page 10
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Pay-roll Tax Act 1971 Schedule 4
11 Fringe benefits
The amendments made to sections 9 and 13A by the State
Revenue Legislation Amendment (Budget) Act 2002 apply to a
fringe benefit the value of which was paid or payable on or
after 1 July 2002.
12 Apprentices
Section 10 (1) (l) applies to wages that are paid or payable for
services performed or rendered on or after 1 July 2002.
Page 11
State Revenue Legislation Amendment (Budget) Bill 2002
Schedule 5 Amendment of Racing Administration Act 1998
Schedule 5 Amendment of Racing Administration
Act 1998
(Section 7)
[1] Sections 26A, 26D, 26E and 26F
Omit "State bookmakers tax authority" wherever occurring.
Insert instead "State bookmakers authority".
[2] Section 26C Bookmakers Revision Committee
Omit section 26C (1) (g).
[3] Section 26D State bookmakers authority
Omit section 26D (2).
[4] Section 26D (5)
Omit "and the applicant has paid the fee required by subsection (2),".
[5] Section 26E Revocation of State bookmakers authority
Insert at the end of the section:
(2) The Committee may revoke a State bookmakers authority
issued under this Part if the Committee is satisfied that a
bookmaker has not complied with a condition imposed in
respect of an authority issued under section 16 or 19.
[6] Section 26F Power of Committee to direct cancellation or suspension
of a bookmaker's registration
Omit section 26F (1).
Page 12
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Racing Administration Act 1998 Schedule 5
[7] Sections 26GA-26GD
Insert after section 26G:
26GA Returns by racing clubs
(1) A racing club must, within 2 working days after the conclusion
of a race meeting held by the club, lodge with the Director-
General of the Department of Gaming and Racing, a return
setting out the betting turnover details of every bookmaker who
fielded at the race meeting.
(2) The return must be in a form approved by the Director-General
of the Department of Gaming and Racing.
Maximum penalty: 100 penalty units.
26GB Returns by bookmakers
(1) A bookmaker who fielded at a race meeting held by a racing
club must, at the conclusion of the race meeting, lodge with a
representative of the racing club appointed by the racing club
for the purpose, or such other person as may be determined by
the Director-General of the Department of Gaming and Racing,
a return setting out the details of the betting turnover of the
bookmaker at the race meeting.
(2) The return must be in a form approved by the Director-General
of the Department of Gaming and Racing.
Maximum penalty: 100 penalty units.
26GC Bookmakers to keep records
(1) A bookmaker, including a former bookmaker, must keep a
written record, setting out the true and accurate particulars of:
(a) every bet made with the bookmaker, and
(b) every bet back made by the bookmaker.
(2) The record:
(a) must indicate the horse races, harness races, greyhound
races or sports betting events in connection with which
the bets or bets back were made with or by the
bookmaker, and
Page 13
State Revenue Legislation Amendment (Budget) Bill 2002
Schedule 5 Amendment of Racing Administration Act 1998
(b) must include any other particular required by the
relevant controlling body.
(3) The record must be kept in a form approved by the relevant
controlling body.
(4) The record must be kept for at least 5 years after the bet or bet
back to which it relates is made.
Maximum penalty: 100 penalty units.
26GD Accuracy of bookmakers records
A person must not enter, or permit to be entered, in a written
record required to be kept under section 26GC entries that are
false, misleading or fictitious or bets made in fictitious names.
Maximum penalty: 100 penalty units.
[8] Schedule 1 Savings and transitional provisions
Insert at the end of clause 1 (1):
the State Revenue Legislation Amendment (Budget) Act 2002
[9] Schedule 1, Part 4
Insert after Part 3:
Part 4 Provisions consequent on enactment of State
Revenue Legislation Amendment (Budget)
Act 2002
8 State bookmakers tax authority
A State bookmakers tax authority in force immediately before
the commencement of Schedule 5 [1] to the State Revenue
Legislation Amendment (Budget) Act 2002 is taken to be a
State bookmakers authority issued under section 26D.
Page 14
State Revenue Legislation Amendment (Budget) Bill 2002
Amendment of Taxation Administration Act 1996 Schedule 6
Schedule 6 Amendment of Taxation Administration
Act 1996
(Section 8)
Section 82 Permitted disclosures--to particular persons
Insert after section 82 (e) (viiig):
(viiih) the Commissioner for Vocational Training
referred to in section 56 of the Apprenticeship
and Traineeship Act 2001 and the Vocational
Training Tribunal of New South Wales
constituted by section 59 of that Act, or
Page 15
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