SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 5 - COLLECTION AND RECOVERY

Division 1 - Returns

SECTION 62 (Repealed by 101 of 2006)   MEANING OF ``MONTHLY REMITTER'' AND ``QUARTERLY REMITTER''  

62(1)  [``monthly remitter'']  

A person is a monthly remitter for a particular month if the person is not a quarterly remitter for the sales tax quarter in which that month happens.

62(2)  [``quarterly remitter'']  

A person is a quarterly remitter for a sales tax quarter ( ``the current quarter'' ) beginning in a financial year ( ``the current year'' ) if the total sales tax that became payable by the person during the previous financial year was less than the quarterly remitter threshold that applies under this section for the current year and:

(a)  the person was a quarterly remitter for the sales tax quarter before the current quarter; or

(b)  as at the 22nd day of the current quarter, the person has no outstanding liability to lodge returns, or to pay tax, in respect of assessable dealings that happened before the current quarter.

62(3)  [Calculation of quarterly remitter threshold]  

The quarterly remitter threshold for the 1992-93 financial year is $51,200. For any later financial year, the threshold is calculated by multiplying the quarterly remitter threshold for the financial year before the later year by the following indexation factor:

Sum of the index numbers for the CPI quarters for the
  12 months ending on 31 March before the later year
-------------------------------------------------------
Sum of the index numbers for the CPI quarters for the
    12 months ending on the previous 31 March
      

62(4)  [Factor calculated to 3 decimal places]  

The indexation factor is to be calculated to 3 decimal places, but increased by .001 if the 4th decimal place is more than 4.

62(5)  [Index number]  

Calculations under subsection (3):

(a)  are to be made using only the index numbers published in terms of the most recently published reference base for the Consumer Price Index; and

(b)  are to disregard indexation numbers that are published in substitution for previously published index numbers (except where the substituted numbers are published to take account of changes in the reference base).

62(5A)  [Decrease in CPI]  

If the indexation factor is less than 1.000, the quarterly remitter threshold for the current year is the same as the quarterly remitter threshold under this section for the financial year immediately before the current year. This subsection has effect despite subsection (3).

62(6)  [Interpretation]  

In this section:

``CPI quarter'' means a period of 3 months ending on 31 March, 30 June, 30 September or 31 December;

``index number'' means the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the Australian Statistician;

``total sales tax that became payable'' does not include tax to the extent that it became payable as a result of the operation of section 15A of the Sales Tax (Exemptions and Classifications) Act 1992.