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TAXATION (GOVERNMENT BUSINESS ENTERPRISES) AMENDMENT REGULATION 2006 (NO 1) (NO 21 OF 2006)

2006


THE LEGISLATIVE ASSEMBLY FOR THE
AUSTRALIAN CAPITAL TERRITORY




TAXATION (GOVERNMENT BUSINESS ENTERPRISES) AMENDMENT REGULATION 2006 (No 1)

Subordinate Law SL2006 - 21

EXPLANATORY STATEMENT

TAXATION (GOVERNMENT BUSINESS ENTERPRISES) AMENDMENT REGULATION 2006 (No 1) Subordinate Law SL2006 - 21

PURPOSE

Regulations, (Taxation (Government Business Enterprises) Regulation 2003 (“Regulation”)) created under section 11 of the Taxation (Government Business Enterprises) Act 2003 (“Act”) list those Territory entities that are to be subject to the Act. CityScape is currently listed under section 4 of the Regulations as being subject to Territory taxes and charges under section 9 of the Act.

As CityScape is no longer a commercial entity, the purpose of the Taxation (Government Business Enterprises) Amendment Regulation 2006 (No 1) is to omit CityScape from section 4 of the Taxation (Government Business Enterprises) Regulation 2003 (“Regulation”). This will remove CityScape from its obligation under section 9 of the Act, in recognition that as a non-commercial entity it should no longer be subject to competitive neutrality principles.

DETAILS OF THE AMENDING REGULATION

Clause 1 states the name of the regulation as the Taxation (Government Business Enterprises) Amendment Regulation 2006 (No 1).

Clause 2 provides that the regulation is to commence from 1 November 2005. The regulation has been drafted to apply retrospectively, from the date CityScape effectively ceased its commercial operations. This merely reflects the non-commercial status of CityScape as of 1 November 2005.

Clause 3 provides that this regulation amends the Taxation (Government Business Enterprises) Regulation 2003.

Clause 4 omits CityScape from the list of entities under section 4 of the Taxation (Government Business Enterprises) Regulation 2003 that are subject to Territory taxes and charges.

REGULATORY IMPACT STATEMENT

A Regulatory Impact Statement was not required for the Taxation (Government Business Enterprises) Amendment Regulation 2006 (No 1) as it does not impose an appreciable cost on the community.