The Parliament of the

Commonwealth of Australia

HOUSE OF REPRESENTATIVES

Presented and read a first time

A New Tax System (Luxury Car Tax Imposition--Excise) Bill 1999

No. , 1999

(Treasury)

A Bill for an Act to implement A New Tax System by imposing a luxury car tax, so far as that tax is a duty of excise

ISBN 0642 391165

Contents

A Bill for an Act to implement A New Tax System by imposing a luxury car tax, so far as that tax is a duty of excise

The Parliament of Australia enacts:

1 Short title This Act may be cited as the A New Tax System (Luxury Car Tax Imposition--Excise) Act 1999.

2 Commencement This Act commences on 1 July 2000.

3 Imposition (1) The tax that is payable under the A New Tax System (Luxury Car Tax) Act 1999 is imposed by this section under the name of luxury car tax.

(2) This section imposes luxury car tax only so far as that tax is a duty of excise within the meaning of section 55 of the Constitution.

4 Rate The rate of luxury car tax payable under the A New Tax System (Luxury Car Tax) Act 1999 is 25%.

Note: Luxury car tax is only calculated on the value of the car that exceeds the luxury car tax threshold in that Act.

5 Act does not impose a tax on property of a State (1) This Act does not impose a tax on property of any kind belonging to a State.

(2) Property of any kind belonging to a State has the same meaning as in section 114 of the Constitution.