HOUSE OF REPRESENTATIVES
Commonwealth Places (Consequential Amendments) Bill 1998
SECOND READING SPEECH
BY THE PARLIAMENTARY SECRETARY (CABINET) TO THE PRIME MINISTER THE HON CHRIS MILES M.P.I move that the Bill be now read a second time.
This Bill makes consequential amendments to the Commonwealth Places (Application of Laws) Act 1970 (the 1970 Act), the Income Tax Assessment Act 1936 and the Income Tax Assessment Act 1997. These amendments ensure that the provisions of the State tax laws which will be mirrored by the Commonwealth Places (Mirror Taxes) Act 1998 will have effect under the 1998 Act rather than the 1970 Act. The amendments also ensure that income tax will not apply to refunds of State taxes subject to the windfall tax and that no deduction will be available for payments of windfall tax.
I commend the Bill to the House.