Taxation Laws Amendment Act (No. 3) 1994 (138 of 1994)

Part 4   AMENDMENT OF THE SALES TAX LAW

Division 6   Amendments relating to regional headquarters

154   Transitional

 

(1) The Sales Tax Assessment Act 1992 applies in relation to a transitional RHQ company dealing as if the following credit ground were added at the end of Table 3 in Schedule 1 to that Act:
            

"CR24

Transitional credit for a transitional RHQ company dealing

Claimant has borne tax on a transitional RHQ company dealing within the meaning of subsection 154(3) of the Taxation Laws Amendment Act (No. 3) 1994.

- the tax borne, to the extent that the claimant has not passed it on at the commencement of section 154 of the Taxation Laws Amendment Act (No. 3) 1994".

      

(2) If a taxpayer is entitled to a credit for a transitional RHQ company dealing, the reference in paragraph (1)(b) of exemption Item 38A of the Principal Act as amended by this Division to the day on which the first goods covered by that Item are locally entered for use by the RHQ company concerned is a reference to the day on which the first goods that are the subject of a transitional RHQ company dealing are locally entered for use by that transitional RHQ company.
            

      

(3) A dealing with imported goods is a "transitional RHQ company dealing" if:
            

(a) the goods are computer related equipment for use by a transitional RHQ company mainly in providing regional headquarters support; and

(b) at all times during the 9 months before the local entry, the goods:

(i) were in existence; and

(ii) were owned or leased by:

(A) the transitional RHQ company; or

(B) a company ("the RHQ group company") that, at the time of the local entry, was a group company in relation to the transitional RHQ company; or

(C) a company that is a group company in relation to the RHQ group company; and

(iii) were not leased or subleased to a person who is not covered by subparagraph (ii); and

(c) the dealing is after 14 December 1993 and before the commencement of this section.

      

(4) The Treasurer may determine that a pre-approved company, or a group company in relation to a pre-approved company, is a "transitional RHQ company".
            

      

(5) The determination must:
            

(a) specify the day on which the company commences to be a transitional RHQ company; and

(b) contain any other information as the Treasurer considers appropriate.

      

(6) A company is a "pre-approved company" if:
            

(a) before 15 December 1993, the Treasurer, or another Minister, agreed in writing to provide the company with:

(i) a sales tax exemption for equipment; or

(ii) compensation for sales tax paid on equipment;

where the equipment was imported into Australia and was owned by the company for at least 9 months before importation; or

(b) on or after 15 December 1993, and before the commencement of this section, the Treasurer agreed in writing to give the company conditional approval as an RHQ company.

      

(7) Determinations made under subsection (4) are disallowable instruments for the purposes of section 46A of the Acts Interpretation Act 1901.
            

      

(8) In this section, "computer related equipment", "provide regional headquarters support" and "RHQ company" have the same meaning as in exemption Item 38A of the Principal Act as amended by this Division.
            

      

(9) In this section:
            

"group company" has the same meaning as in the Principal Act as amended by this Division.