Commonwealth Consolidated Acts Commonwealth Consolidated Acts
A New Tax System (Luxury Car Tax) Act 1999
1 At the end of section 2 - 10
Add:
(4) Refunds can arise for primary producers and tourism operators in certain circumstances. (Division 18) .
2 After Division 17
Insert:
18 - 1 What this Division is about
Refunds under this Division may be available to primary producers and tourism operators for the supply of certain cars.
18 - 5 Refunds for tax borne--primary producers
(1) You are entitled to a refund under this section if:
(a) you have a refund entitlement under this section; and
(b) you are * registered ; and
(c) no one else has made a valid claim for a refund in relation to the refund entitlement.
(2) You have a refund entitlement if:
(a) you have * borne luxury car tax on the supply, or * importation, of a * refund - eligible car; and
(b) at the time of the supply or importation you are carrying on a * primary production business.
(3) The amount of the refund for a refund entitlement under subsection (2) is the lesser of:
(a) 8 / 33 of the luxury car tax * borne by you as described in paragraph (2)(a); and
(b) $3,000.
(4) You cannot have a refund entitlement under subsection (2) for more than one * car in a * financial year.
18 - 10 Refunds for tax borne--tourism operators
(1) You are entitled to a refund under this section if:
(a) you have a refund entitlement under this section; and
(b) you are * registered; and
(c) no one else has made a valid claim for a refund in relation to the refund entitlement.
(2) You have a refund entitlement if:
(a) you have * borne luxury car tax on the supply, or * importation, of a * refund - eligible car; and
(b) the Commissioner is satisfied that:
(i) you will use the car solely for the purpose of carrying on a business; and
(ii) the principal purpose of the business is carrying tourists for * tourist activities.
(3) The amount of the refund for a refund entitlement under subsection (2) is the lesser of:
(a) 8 / 33 of the luxury car tax * borne by you as described in paragraph (2)(a); and
(b) $3,000.
(1) You must claim a refund within 4 years of becoming entitled to the refund.
(2) A claim for a refund must be in the * approved form.
If you are entitled to a refund under this Division and you have claimed the refund, the Commissioner must, on behalf of the Commonwealth, pay the amount of the refund to you.
3 Section 27 - 1
Insert:
"primary production business" has the meaning given by section 995 - 1 of the * ITAA 1997.
4 Section 27 - 1
Insert:
"refund-eligible car" means a 4 wheel drive, or all wheel drive, * car of a kind specified in regulations made for the purposes of this definition.
5 Section 27 - 1
Insert:
"tourist activity" has the meaning set out in regulations made for the purposes of this definition.
6 Application
The amendments made by this Schedule apply to taxable supplies of luxury cars and taxable importations of luxury cars on or after 1 July 2008.