Commonwealth Consolidated Acts Commonwealth Consolidated ActsIn this Act:
"accounting standards" has the same meaning as in the Corporations Act 2001 .
"Australia" has the same meaning as in the Income Tax Assessment Act 1997 .
"Australian and New Zealand Standard Industrial Classification" means the Australian and New Zealand Standard Industrial Classification (ANZSIC) 2006 , as published from time to time by the Australian Bureau of Statistics.
"Australian law" means a law of the Commonwealth, or of a State or Territory.
"authorised officer" means a person appointed as an authorised officer under subsection 35(1).
"carries on business in Australia" : an entity carries on business in Australia if the entity:
(a) in the case of a body corporate--carries on business in Australia, a State or a Territory within the meaning of the Corporations Act 2001 (see section 21 of that Act); or
(b) in any other case--would be taken to do so within the meaning of that Act if the entity were a body corporate.
"carrying on an enterprise" includes doing anything in the course of the commencement or termination of the enterprise.
"civil penalty provision" has the same meaning as in the Regulatory Powers Act.
"commercial-in-confidence" has the meaning given by subsection 20(3).
"consolidated revenue" , of an entity, means:
(a) the total revenue of the entity, for a financial year; or
(b) if the entity controls another entity or entities--the total revenue of the entity and all of the controlled entities, considered as a group, for a financial year of the controlling entity;
worked out in accordance with the accounting standards, even if those standards do not otherwise apply to such an entity (including a controlling entity) or group.
"constitutional corporation" means a corporation to which paragraph 51(xx) of the Constitution applies.
"constitutionally covered entity" has the meaning given by section 6.
"control" , of an entity by another entity, means control of the entity within the meaning of the accounting standards.
"enforcement body" has the same meaning as in the Privacy Act 1988 .
"enforcement related activity" has the same meaning as in the Privacy Act 1988 .
"engage in conduct" means:
(a) do an act; or
(b) omit to perform an act.
"enterprise" has the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999 .
"entity" has the same meaning as in the Income Tax Assessment Act 1997 .
"entrusted person" means:
(a) the Secretary; or
(b) the Regulator; or
(c) an APS employee in the Department; or
(d) any other person employed in or engaged by the Department.
"exempt entity" means an entity in relation to which a determination under subsection 10P(1) is in effect.
"fast small business payer" : see subsection 22J(1).
"Federal Court" means the Federal Court of Australia.
"financial year" , in relation to an entity:
(a) if a paragraph of the definition of financial year in section 9 of the Corporations Act 2001 applies to the entity--has the meaning given by that definition; or
(b) otherwise--means an income year for the entity.
"foreign entity" has the same meaning as in the Income Tax Assessment Act 1997 .
"income tax" has the same meaning as in the Income Tax Assessment Act 1997 .
"income year" for an entity:
(a) has the same meaning as in the Income Tax Assessment Act 1997 ; or
(b) if income tax is not payable by the entity under that Act--means:
(i) a period of 12 months starting on 1 July; or
(ii) if the rules prescribe a period of 12 months--the prescribed period.
"internal decision reviewer" has the meaning given by subsection 53(1).
"issuing officer" means:
(a) a magistrate; or
(b) a Judge of the Federal Court or the Federal Circuit and Family Court of Australia (Division 2).
"list of fast small business payers" means the list maintained and published on the register in accordance with section 22K.
"payment times report" means a report prepared for the purposes of Division 2 of Part 2 (reporting payment times).
"Payment Times Small Business Identification Tool" has the meaning prescribed by the rules.
"principal governing body" , of an entity, means:
(a) the body, or group of members of the entity, with primary responsibility for the governance of the entity; or
(b) if the entity is of a kind prescribed by the rules--a prescribed body within the entity, or a prescribed member or members of the entity.
Example: Examples of principal governing bodies are as follows:
(a) for a company--the company's board of directors;
(b) for a superannuation fund--the fund's board of trustees.
"protected information" means information obtained under, or in accordance with, this Act.
"provisional reporting period" , of an entity, means a period in a financial year:
(a) if the entity is a reporting entity or a reporting nominee for the whole of the financial year--that is a reporting period of the entity in the financial year; or
(b) otherwise--that would be a reporting period for the entity if the entity were a reporting entity or a reporting nominee for the whole of the financial year.
"reconsideration decision" means a decision made under subsection 53(2).
"register" means the Payment Times Reports Register established under section 17.
"Regulator" has the meaning given by subsection 24(3).
"Regulatory Powers Act" means the Regulatory Powers (Standard Provisions) Act 2014 .
"relevant court" means:
(a) the Federal Court; or
(b) the Federal Circuit and Family Court of Australia (Division 2); or
(c) a court of a State or Territory that has jurisdiction in relation to matters arising under this Act.
"reporting cycle" : each of the following is a reporting cycle :
(a) a period of 6 months starting on 1 January;
(b) a period of 6 months starting on 1 July.
"reporting entity" has the meaning given by section 7.
Note: See also section 55 (former reporting entities).
"reporting nominee" means an entity in relation to which a determination under subsection 10L(1) is in effect.
Note: See also section 55A (former reporting nominees).
"reporting period" has the meaning given by section 8.
"responsible member" , of an entity, in relation to a requirement under this Act that a report, application or other matter be approved, means:
(a) an individual member of the entity's principal governing body who is authorised to approve the report, application or other matter; or
(b) if the entity is a trust administered by a sole trustee--that trustee; or
(c) if the entity is a corporation sole--the individual constituting the corporation; or
(d) if the entity is under administration within the meaning of the Corporations Act 2001 --the administrator; or
(e) if the entity is of a kind prescribed by the rules--a prescribed member of the entity.
"reviewable decision" : see section 51.
"rules" means rules made under section 58.
"Secretary" means the Secretary of the Department.
"slow small business payer" : see section 22D.
"slow small business payer direction" means a direction given under subsection 22B(1).
"small business" means an entity described as a small business in the Payment Times Small Business Identification Tool.
"small business invoice" means a document, notifying an obligation to make a payment, issued to an entity by a small business supplier of the entity.
"small business supplier" , in relation to an entity, means a small business that supplies goods or services to the entity.
"subsidiary reporting entity" means an entity in relation to which a determination under subsection 10E(1) is in effect.
"this Act" includes the rules.
"total income" has the same meaning as in section 3C of the Taxation Administration Act 1953 .
"use" , in relation to information, includes making a record of the information.
"volunteering entity" means a reporting entity that is a reporting entity only because of a determination under subsection 10B(1).