WARNING:
This Digest was prepared for debate. It reflects the legislation as
introduced and does not canvass subsequent amendments. This Digest
does not have any official legal status. Other sources should be
consulted to determine the subsequent official status of the
Bill.
CONTENTS
Franchise Fees Windfall Tax (Imposition) Bill
1997
Date Introduced: 28 August 1997
House: House of Representatives
Portfolio: Treasury
Commencement: With effect from 5 August 1997
The purpose of this Bill is to impose the franchise fees
windfall tax.
The present Bill forms part of a package of nine proposed laws
which collectively constitute the Commonwealth's legislative
response to a unanimous request from the State and Territory
Governments to protect their revenues following the High Court's
decisions in Ha & Another v State of New South Wales &
Others and Walter Hammond & Associates Pty Limited v
State of New South Wales and Others.
A detailed 'background' is provided in the Bills Digest for the
Franchise Fees Windfall Tax (Collection) Bill 1997.
This statute imposes a tax.
Clause 4 sets the rate of windfall tax as
provided for under the Franchise Fees Windfall Tax (Collection)
Bill 1997 at 100% of any successful claim.
Bob Bennett
1 September 1997
Bills Digest Service
Information and Research Services
This Digest does not have any official legal status. Other
sources should be consulted to determine whether the Bill has been
enacted and, if so, whether the subsequent Act reflects further
amendments.
IRS staff are available to discuss the paper's contents
with Senators and Members and their staff but not with members of
the public.
ISSN 1328-8091
© Commonwealth of Australia 1997
Except to the extent of the uses permitted under the
Copyright Act 1968, no part of this publication may be
reproduced or transmitted in any form or by any means, including
information storage and retrieval systems, without the prior
written consent of the Parliamentary Library, other than by Members
of the Australian Parliament in the course of their official
duties.
Published by the Department of the Parliamentary Library,
1997.
This page was prepared by the Parliamentary Library,
Commonwealth of Australia
Last updated: 2 September 1997
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