Revenue Units Act 2009
1Revenue Units Act 2009
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NORTHERN TERRITORY OF AUSTRALIA REVENUE UNITS ACT 2009 As in force at 1 July 2022 Table of provisions 1 Short title ......................................................................................... 1 2 Commencement .............................................................................. 1 3 Monetary amount of fee or charge................................................... 1 4 Indexation of monetary value of revenue unit .................................. 1 5 New monetary value of revenue unit ............................................... 3 6 Notifying new monetary value of revenue unit ................................. 3 7 Regulations...................................................................................... 3 8 Repeal ............................................................................................. 3 9 Application and transitional matters ................................................. 3 10 Application and transitional matters for Revenue Legislation Amendment Act 2018 ...................................................................... 4 11 Transitional matters for Revenue Legislation Amendment and Repeal Act 2022 .............................................................................. 4 ENDNOTES
NORTHERN TERRITORY OF AUSTRALIA
As in force at 1 July 2022
REVENUE UNITS ACT 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 1 Short title This Act may be cited as the Revenue Units Act 2009. 2 Commencement 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 is: (a) $1.27 for the financial year ending on 30 June 2023; and
Revenue Units Act 2009 2 (b) the amount calculated in accordance with subsections (2), (3) and (4) for the financial years following 30 June 2023. (2) The formula is: A = B x [the greater of C D and 1.03] where: A is the monetary value of a revenue unit for the financial year for which the calculation is made. B is the monetary value of a revenue unit for the financial year immediately preceding the financial year for which the calculation is made. 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 2 years preceding the financial year for which the calculation is made. (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) Any retrospective change to the method of calculating the CPI figures for Darwin does not retrospectively affect the value of a revenue unit. (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.