Federal Register of Legislation - Australian Government

Primary content

Rules/Other as made
This instrument amends the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 to allow financial institutions participating in the SME Recovery Loan Scheme to confirm that notices have been provided by the Commissioner of Taxation to entities concerning their election to participate in the JobKeeper payment program. It also makes minor technical amendments.
Administered by: Treasury
Registered 24 Mar 2021
Tabling HistoryDate
Tabled HR25-Mar-2021
Tabled Senate11-May-2021
To be repealed 12 Aug 2021
Repealed by Division 1 of Part 3 of Chapter 3 of the Legislation Act 2003
Table of contents.

 

Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 10) 2021

I, Josh Frydenberg, Treasurer, make the following rules.

Dated 22 March 2021

 

Josh Frydenberg

Treasurer

 

  

  


Contents

1  Name........................................................................................................................................ 1

2  Commencement........................................................................................................................ 1

3  Authority.................................................................................................................................. 1

4  Schedules................................................................................................................................. 1

Schedule 1—Amendments                                                                                            2

Part 1—Main amendments                                                                                       2

Coronavirus Economic Response Package (Payments and Benefits) Rules 2020                    2

Part 2—Miscellaneous amendments                                                                        3

Coronavirus Economic Response Package (Payments and Benefits) Rules 2020                    3

 

 


1  Name

                   This instrument is the Coronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 10) 2021.

2  Commencement

             (1)  Each provision of this instrument specified in column 1 of the table commences, or is taken to have commenced, in accordance with column 2 of the table. Any other statement in column 2 has effect according to its terms.

 

Commencement information

Column 1

Column 2

Column 3

Provisions

Commencement

Date/Details

1.  The whole of this instrument

The day after this instrument is registered.

 

Note:          This table relates only to the provisions of this instrument as originally made. It will not be amended to deal with any later amendments of this instrument.

             (2)  Any information in column 3 of the table is not part of this instrument. Information may be inserted in this column, or information in it may be edited, in any published version of this instrument.

3  Authority

                   This instrument is made under the Coronavirus Economic Response Package (Payments and Benefits) Act 2020.

4  Schedules

                   Each instrument that is specified in a Schedule to this instrument is amended or repealed as set out in the applicable items in the Schedule concerned, and any other item in a Schedule to this instrument has effect according to its terms.

Schedule 1Amendments

Part 1—Main amendments

 

Coronavirus Economic Response Package (Payments and Benefits) Rules 2020

1  Subsection 4(1)

Insert:

financial institution has the same meaning as in the Guarantee of Lending to Small and Medium Enterprises (Coronavirus Economic Response Package) Act 2020.

2  Section 18A (heading)

Omit “ADI”, substitute “financial institution”.

3  Subsection 18A(1)

Omit “an ADI”, substitute “a financial institution”.

4  Subsection 18A(2)

Omit “the ADI”, substitute “the financial institution”.

5 Subsection 18A(4)

Omit “the ADI”, substitute “ the financial institution”.

Part 2—Miscellaneous amendments

 

Coronavirus Economic Response Package (Payments and Benefits) Rules 2020

6  Subsection 14(1)

Omit “the jobkeeper payment”, substitute “that jobkeeper payment”.

7  Paragraph  17(1)(d)

Omit “that paragraph.”, substitute “that paragraph at the rate notified to the Commissioner for the individual in the approved form (as referred to in paragraph 6(1)(fa), 11(1)(fa) or 12A(1)(ga)).”.

8  Subsection 17(2)

Omit “referred to in paragraph (1)(b).”, substitute “referred to in paragraph (1)(b) at the rate notified to the Commissioner for the individual in the approved form (as referred to in paragraph 6(1)(fa), 11(1)(fa) or 12A(1)(ga)).”.

9  Paragraph 18(1)(c)

Omit “that paragraph.”, substitute “that paragraph at the rate notified to the Commissioner for the individual in the approved form (as referred to in paragraph 6(1)(fa), 11(1)(fa) or 12A(1)(ga)).”.

10  Paragraph 18(3)(a)

After “fortnight”, insert “of a particular amount”.