Australian Capital Territory Tax (Hire‑purchase Business) Act 1969

Act No. 44 of 1969 as amended

[Note: This Act was repealed by Act No. 8 of 2007 on 15 March 2007]

This compilation was prepared on 30 October 2000
taking into account amendments up to Act No. 62 of 1987

The text of any of those amendments not in force
on that date is appended in the Notes section

The operation of amendments that have been incorporated may be
affected by application provisions that are set out in the Notes section

Prepared by the Office of Legislative Drafting and Publishing,
Attorney‑General’s Department, Canberra

Contents

1............ Short title [see Note 1]....................................................................... 1

2............ Commencement [see Note 1].............................................................. 1

3............ Incorporation...................................................................................... 1

3A......... Termination of tax.............................................................................. 1

4............ Imposition of tax................................................................................ 1

5............ Rate of tax........................................................................................... 1

6............ Exemptions......................................................................................... 2

7............ Regulations......................................................................................... 2

Notes                                                                                                                                              3

An Act relating to the Imposition of Tax in respect of certain Hire‑purchase Agreements executed in the Australian Capital Territory

1  Short title [see Note 1]

                   This Act may be cited as the Australian Capital Territory Tax (Hire‑purchase Business) Act 1969.

2  Commencement [see Note 1]

                   This Act shall come into operation on a date to be fixed by Proclamation.

3  Incorporation

                   The Australian Capital Territory Taxation (Administration) Act 1969 is incorporated and shall be read as one with this Act.

3A  Termination of tax

                   Tax is not imposed on a hire‑purchase agreement that is entered into on or after the termination day.

4  Imposition of tax

                   Subject to this section, tax is imposed on the purchase price under a hire‑purchase agreement:

                     (a)  under which the owner is a registered owner; and

                     (b)  that is entered into in the Territory after the commencement of this Act.

5  Rate of tax

                   The rate of tax is one and a quarter per centum of the purchase price under the hire‑purchase agreement.

6  Exemptions

                   Tax is not imposed on:

                     (a)  a hire‑purchase agreement under which the purchase price does not exceed One hundred dollars;

                     (b)  a hire‑purchase agreement entered into by an authority of the Commonwealth or of a Territory prescribed for the purposes of this paragraph;

                     (c)  a hire‑purchase agreement under which the hirer is:

                              (i)  a member of a diplomatic mission in Australia of the government of another country that does not impose stamp duty or any similar tax on hire‑purchase agreements or grants in relation to Australia an exemption from any such stamp duty or similar tax corresponding to this exemption; or

                             (ii)  a member of his family forming part of his household;

                            being a person who is not an Australian citizen or is not ordinarily resident in Australia; or

                     (d)  a hire‑purchase agreement under which the hirer is a public hospital, public benevolent institution, religious institution or public educational institution.

7  Regulations

                   The Governor‑General may make regulations for the purposes of paragraph 6(b).

Notes to the Australian Capital Territory Tax (Hire-purchase Business) Act 1969

Note 1

The Australian Capital Territory Tax (Hire‑purchase Business) Act 1969 as shown in this compilation comprises Act No. 44, 1969 amended as indicated in the Tables below.

Table of Acts

(a)     The Australian Capital Territory Tax (Hire‑purchase Business) Act 1969 was amended by section 59 only of the Taxation Laws Amendment Act (No. 2) 1987, subsection 2(8) of which provides as follows:

                 (8)   Part VIII shall come into operation on a day, or respective days, to be fixed by Proclamation.

Table of Amendments