Commonwealth act

Franchise Fees Windfall Tax (Imposition) Act 1997

In ForceCTH

Jurisdiction

Commonwealth

Act Number

133 of 1997

Collection

act

Plain English Summary

3/10 complexity

This Act imposes a 100% "franchise fees windfall tax" on amounts defined and collected under a separate Collection Act, takes effect at the same time as that Collection Act, and binds the Crown. It directly increases the cost to anyone liable for the franchise-fees windfall (as defined in the companion Collection Act) and shifts collection and compliance mechanics to that linked statute, creating a clear financial incentive to avoid or contest taxable windfalls.

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Current sections

Direct links to the current provisions in Franchise Fees Windfall Tax (Imposition) Act 1997.

Franchise Fees Windfall Tax (Imposition) Act 1997

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Commonwealth Coat of Arms of Australia

Franchise Fees Windfall Tax (Imposition) Act 1997

No. 133, 1997

An Act to impose franchise fees windfall tax, and for related purposes

Contents

1 Short title........................................1

2 Commencement....................................1

3 This Act binds the Crown..............................1

4 Imposition of franchise fees windfall tax......................2

Franchise Fees Windfall Tax (Imposition) Act 1997

No. 133, 1997

An Act to impose franchise fees windfall tax, and for related purposes

Assented to 19 September 1997

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Franchise Fees Windfall Tax (Imposition) Act 1997.

2 Commencement

This Act is taken to have commenced at the same time as the Franchise Fees Windfall Tax (Collection) Act 1997.

3 This Act binds the Crown

This Act binds the Crown in each of its capacities.

4 Imposition of franchise fees windfall tax

(1) Franchise fees windfall tax is hereby imposed at the rate of 100%.

(2) In this section:

franchise fees windfall tax means the tax that is payable under the Franchise Fees Windfall Tax (Collection) Act 1997.

Minister’s second reading speech made in

House of Representatives on 28 August 1997

Senate on 3 September 1997

(131/97)

Source text

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

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8

?xml version="1.0" encoding="utf-8" standalone="no"?>

Franchise Fees Windfall Tax (Imposition) Act 1997

No. 133, 1997

An Act to impose franchise fees windfall tax, and for related purposes

Contents

1 Short title........................................1

2 Commencement....................................1

3 This Act binds the Crown..............................1

4 Imposition of franchise fees windfall tax......................2

Franchise Fees Windfall Tax (Imposition) Act 1997

No. 133, 1997

An Act to impose franchise fees windfall tax, and for related purposes

Assented to 19 September 1997

The Parliament of Australia enacts:

1 Short title

This Act may be cited as the Franchise Fees Windfall Tax (Imposition) Act 1997.

2 Commencement

This Act is taken to have commenced at the same time as the Franchise Fees Windfall Tax (Collection) Act 1997.

3 This Act binds the Crown

This Act binds the Crown in each of its capacities.

4 Imposition of franchise fees windfall tax

(1) Franchise fees windfall tax is hereby imposed at the rate of 100%.

(2) In this section:

franchise fees windfall tax means the tax that is payable under the Franchise Fees Windfall Tax (Collection) Act 1997.

Minister’s second reading speech made in

House of Representatives on 28 August 1997

Senate on 3 September 1997

(131/97)

Read the source document