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This is a Bill, not an Act. For current law, see the Acts databases.
Serial 64
Revenue
Units Bill 2009
Ms
Lawrie
A Bill for an Act to provide for fees and charges expressed as revenue units, the indexation of the monetary value of revenue units and for related purposes
NORTHERN TERRITORY OF AUSTRALIA
REVENUE UNITS ACT 2009
____________________
Act No. [ ] of 2009
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Table of provisions
NORTHERN
TERRITORY OF AUSTRALIA
____________________
Act No. [ ] of 2009
____________________
An Act to provide for fees and charges expressed as revenue units, the indexation of the monetary value of revenue units and for related purposes
[Assented to [ ] 2009]
[Second reading [ ] 2009]
The Legislative Assembly of the Northern Territory enacts as follows:
This Act may be cited as the Revenue Units Act 2009.
This Act commences on 1 January 2010.
3 Monetary amount of fee or charge
(1) A reference in a law of the Territory to a fee or charge that is expressed as a number of revenue units is a reference to an amount of money equal to the amount obtained by multiplying the monetary value of a revenue unit, as calculated in accordance with section 4, by the number of revenue units.
Note for subsection (1)
The number of revenue units may be a whole number or a decimal or fractional number.
(2) However, if the amount obtained for the fee or charge is not a multiple of $1, the amount is to be rounded down to the nearest $1.
Example for subsection (2)
If a fee is expressed as 10 revenue units and the value of a revenue unit is $1.06, the actual fee will be $10.00.
(3) In its application to an Act, subsection (1) is subject to a contrary intention in the Act.
4 Indexation of monetary value of revenue unit
(1) The monetary value of a revenue unit:
(a) is $1.00 until 30 June 2011; and
(b) for the financial year commencing on 1 July 2011, or a subsequent financial year, is the amount calculated in accordance with the formula in subsection (2) and as provided by subsections (3) and (4).
(2) The formula is:
A = B x
where:
A is the monetary value of a revenue unit for the financial year for which the calculation is made.
B is $1.00.
C is the average of the CPI figures for Darwin for each of the 4 quarters of the calendar year immediately preceding the financial year for which the calculation is made.
D is the average of the CPI figures for Darwin for each of the 4 quarters of the calendar year 2009.
(3) The monetary value of a revenue unit, calculated in accordance with subsection (2), is to be rounded down to 2 decimal places.
Example for subsection (3)
By calculating in accordance with the formula in subsection (2), A is equal to $1.129. A is rounded down to 2 decimal places which gives a value of $1.12.
(4) However, if the figure for A, after rounding under subsection (3), is less than the figure for the previous financial year, the monetary value of a revenue unit for the financial year is the same as that for the previous financial year.
(5) In this section:
CPI figure for Darwin means the Consumer Price Index: All Groups Index Number for Darwin published by the Australian Statistician under the authority of the Census and Statistics Act 1905 (Cth).
quarter, of a calendar year, means the period of 3 months ending at the end of March, June, September or December in that year.
5 New monetary value of revenue unit
If the monetary value of a revenue unit calculated under section 4 for a financial year (the new financial year) increases from that of the previous financial year, the new value:
(a) takes effect on 1 July of the new financial year; and
(b) applies in calculating the amount of a fee or charge incurred only on or after the day on which the new value takes effect.
6 Notifying new monetary value of revenue unit
(1) The Commissioner of Territory Revenue must notify the new value of a revenue unit by Gazette notice before the date on which the new value takes effect.
(2) However, a failure to do so does not affect the operation of section 5(a).
(3) In this section:
Commissioner of Territory Revenue, see section 6 of the Taxation Administration Act.
The Administrator may make regulations under this Act.
The Revenue Units Act 2000 (Act No. 18 of 2000) is repealed.
9 Application and transitional matters
(1) This Act applies to a fee or charge incurred after the commencement.
(2) Despite section 8, the repealed Act continues to apply to a fee or charge incurred before the commencement but not paid as at the commencement.
(3) In this section:
commencement means the commencement of this section.
repealed Act means the Revenue Units Act as in force immediately before the commencement.
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