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Legislative Assembly for the ACT: 2000 Week 7 Hansard (27 June) . . Page.. 1964 ..
MR HUMPHRIES (continuing):
arise from this arrangement is most important when considering these bills that are before the Assembly today.
I hope that the amendments in this bill will extend the concept of a number of issues contained in the head legislation, in particular to extend the concept of net appropriations to allow agencies to spend their GST input tax credits received from the Australian Taxation Office as if it were money appropriated originally by the parliament. In relation to payments for outputs, departments will be able to apply the value of input tax credits to pay the expenses and liabilities incurred in providing outputs. In relation to capital injections, departments will be able to apply the value of input tax credits to pay the expenses and liabilities incurred in purchasing and developing assets.
The other provisions relating to the implementation of the GST will allow agencies to pay the GST revenue collected to the Australian Taxation Office whether or not there has been an appropriation. As the territory will have little or no discretion or little control over the payment of these amounts, these payments do not fall under the usual appropriation division, and for that reason special arrangements of the kind contained in this bill have to be made.
There are two further amendments to the Financial Management Act contained in this bill. The first extends the sunset provision of section 17A to 30 June 2001, indicating that there are further negotiations to be had with the Commonwealth about particular matters which may result in the ACT being able to secure a better arrangement with respect to sharing costs. The second amendment deals with the power to make financial management guidelines. Members have already made reference to that. The issuing of those guidelines prescribing matters required or permitted to be made under the act is a very important part of this transitional process. I thank members for their support for the capacity to make those sorts of guidelines because I am sure they will be very important in the coming weeks as we bed down a new system. Mr Speaker, I thank members for their support for the bill.
Question resolved in the affirmative.
Bill agreed to in principle.
Leave granted to dispense with the detail stage.
Bill agreed to.
Debate resumed from 25 May 2000, on motion by Mr Humphries:
That this bill be agreed to in principle.
MR QUINLAN
(10.47): In its initial form this bill simply insulates hospitals, schools and charitable organisations from a heavier stamp duty charge on various dutiable financial transactions above the level of $20 and it is supported. If you will bear with me
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