Australia: Tax Bulletin 1 February 1999

Last Updated: 1 February 1999

Federal Parliament 1999 Autumn sittings - legislation proposed

The following Bills are proposed for introduction in the Autumn sittings of Parliament - the House of Representatives resumes on Monday 8 February.

(Bills marked * are proposed for introduction and passage in the Autumn sittings)

Customs / Excise / EMDG

Customs Tariff Amendment (ACIS Implementation) Bill reduce the rates of Customs duty on passenger motor vehicles and certain related componentry from 1 January 2005 facilitate the establishment of the Automotive Competitiveness and Investment Scheme which will replace the Passenger Motor Vehicle Manufacturing Plan on 1 January 2001.

Customs Tariff Amendment Bill (No. 1) reduce rates of customs duty on textile, clothing and footwear goods from 1 January 2005.

Customs Legislation Amendment Bill (No. 2) amend the Customs Act 1901 and Import Processing Charges Act 1997 to provide for a new registration and reporting system with a lower differential screening charge to cover the reporting of high volume low value consignments

Customs Legislation Amendment Bill (No. 3) Customs Tariff Amendment Bill (No. 5) amend customs legislation to facilitate the implementation of the Government's tax reform legislation.

Customs Tariff Amendment Bill (No. 3) incorporate into the Customs Tariff Act 1995 any Customs Tariff Proposals that may be tabled in Parliament up until March 1999.

Customs Tariff Amendment Bill (No. 4) facilitate the establishment of the new TRADEX system which will consolidate the existing TEXCO system and elements of the duty drawback and temporary importation provisions of the Customs Act 1901.

Excise Legislation Amendment Bill (No. 1) Excise Tariff Amendment Bill (No. 1) amend the Excise Act 1901 and the Excise Tariff Act 1921.

Excise Legislation Amendment Bill (No. 2) Excise Tariff Amendment Bill (No. 2) amend various Acts.

Excise Tariff Amendment Bill (No. 3) amend the Excise Tariff Act 1921.

Export Market Development Grants Legislation Amendment Bill extend the life of the EMDG scheme to grant year 2000-2001 (budget year 2001-2002), provide for better administration and rectify drafting errors in the Act.

Tariff Export Concession Scheme Bill merge the Duty Drawback, Tariff Export Concession Scheme and elements of the temporary importation provisions into a single scheme to be called TRADEX streamline Customs procedures, with greater emphasis on up-front exemption rather than a refund of duties, self assessment and period settlement, to reduce both the financing and compliance costs to users and improve Australian industry?s international competitiveness.

Electronic Commerce

Electronic Transactions Bill implement the recommendations of the Attorney-General?s Electronic Commerce Expert Group with provisions based on the United Nations Commission on International Trade Laws Model Law on Electronic Commerce.

GST / Tax reform

A New Tax System (Commonwealth-State Financial Arrangements) Bill provide GST revenues to the States and Territories and make related transitional arrangements maintain the GST base and rate in accordance with the Agreement on Principles enact other measures necessary to implement Commonwealth-State aspects of tax reform.

A New Tax System (Family Assistance ? Repeal and Consequential Amendments) Bill implement the Family Assistance Consequential Amendments Act.

A New Tax System (Goods and Services Tax) Consequential Amendments Bill implement the GST Consequential Amendments Act.

  • A New Tax System (Luxury Car Retail Tax Assessment) Bill
  • A New Tax System (Luxury Car Retail Tax Imposition - Excise) Bill
  • A New Tax System (Luxury Car Retail Tax Imposition - Customs) Bill.
  • A New Tax System (Luxury Car Retail Tax Imposition - General) Bill
  • provide for a Luxury Car Retail Tax and related matters

A New Tax System (Taxation Laws Amendment) Bill amend the Income Tax Assessment Act 1936, the Income Tax Assessment Act 1997, the Taxation Administration Act 1933, the Taxation Laws Deficit Reduction Act (No. 2) 1993 and various other Acts.

  • A New Tax System Wine Equalisation Tax Bill
  • A New Tax System (Wine Equalisation Tax Imposition - Excise) Bill
  • A New Tax System (Wine Equalisation Tax Imposition - Customs) Bill
  • A New Tax System (Wine Equalisation Tax Imposition - General) Bill
  • provide for a wine equalisation tax and related matters


Financial Sector Reform (Amendments and Transitional Provisions) Bill (No. 2) complete the Government's financial reform agenda.

Bounty (Ships) Amendment Bill provide for the extension of the shipbuilding bounty until 31 December 2000 at a reduced rate of 3% of eligible production costs provide for the introduction of the Shipbuilding Innovation Scheme to encourage product and process research and development and design innovation in the shipbuilding industry

Liability is limited by the Accountant's Scheme under the Professional Standards Act 1994 (NSW)

For further information, contact:

Michael Croker
Coopers & Lybrand Tower
580 George Street
Sydney 2000

Tel No: +61 29 28 57 777

Fax No: +61 29 26 18 777

E-mail: Click Contact Link

Visit the PricewaterhouseCoopers in Australia website at Click Contact Link

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