Commonwealth legislation

Australian Capital Territory Tax (Insurance Business) Regulations

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

157 of 1969

Collection

legislative instrument

Plain English Summary

1/10 complexity

These regulations specify which government authorities are exempt from paying tax on insurance premiums in the Australian Capital Territory (ACT).

Under the regulations, two Commonwealth entities—the Export Payments Insurance Corporation and the Housing Loans Insurance Corporation—are prescribed as exempt authorities. This means when these bodies act as insurers (meaning they provide insurance policies to others), they do not have to pay the ACT tax that would normally apply to insurance premiums.

The regulations work by listing these specific bodies in a Schedule, which qualifies them for exemption under the parent Act.

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Current sections

Direct links to the current provisions in Australian Capital Territory Tax (Insurance Business) Regulations.

Australian Capital Territory Tax (Insurance Business) Regulations

STATUTORY RULES

1969 No. 157

REGULATIONS UNDER THE AUSTRALIAN CAPITAL TERRITORY TAXATION (ADMINISTRATION) ACT 1969 AND THE AUSTRALIAN CAPITAL TERRITORY TAX (INSURANCE BUSINESS) ACT 1969.*

I, THE GOVERNOR-GENERAL in and over the Commonwealth of Australia, acting with the advice of the Federal Executive Council, hereby make the following Regulations under the Australian Capital Territory Taxation (Administration) Act 1969 and the Australian Capital Territory Tax (Insurance Business) Act 1969.

Dated this twentieth day of September , 1969.

Signature of Governor-General

Governor-General.

By His Excellency’s Command,

Signature of Treasurer

Treasurer.

AUSTRALIAN CAPITAL TERRITORY TAX (INSURANCE BUSINESS) REGULATIONS

Citation.

These Regulations may be cited as the Australian Capital Territory Tax (Insurance Business) Regulations.

Commencement.

These Regulations shall be deemed to have come into operation on the first day of July, 1969.

Exemptions from tax on insurance premiums.

For the purposes of paragraph (g) of section 6 of the Australian Capital Territory Tax (Insurance Business) Act 1969, an authority of the Commonwealth or of a Territory specified in the Schedule to these Regulations is a prescribed authority of the Commonwealth or of a Territory in respect of insurance effected by the authority as insurer.

THE SCHEDULE Regulation 3

Exempt Authorities

Export Payments Insurance Corporation

Housing Loans Insurance Corporation

* Notified in the Commonwealth Gazette on 1969

Printed for the Government of the Commonwealth by W. G. MURRAY at the Government Printing Office, Canberra

18312/69—PRICE 5c 6/8.9.1969

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Australian Capital Territory Tax (Insurance Business) Regulations