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TEXTILE, CLOTHING AND FOOTWEAR STRATEGIC INVESTMENT PROGRAM AMENDMENT ACT 2004 NO. 36, 2004 - SCHEDULE 1

- Amendments

Textile, Clothing and Footwear Strategic Investment Program Act 1999

1 After paragraph 10(d)

Insert:

(da) section 14A (which provides an alternative cap for certain grants in respect of TCF value-adding);
2 After section 14

Insert:

14A Alternative cap for certain grants in respect of TCF value-adding
(1)
This section sets out a policy objective for the TCF (SIP) Scheme that applies instead of the policy objective in section 14.

The objective

(2)
The objective is that the total of the grants that are made to a section 14A entity in respect of activities that, under the scheme, are taken to be eligible activities carried on by the entity during the entity's 2003-2004 income year or 2004-2005 income year must not exceed the sum of:

(a) the total grants in respect of new TCF plant/building expenditure made to the entity in respect of amounts that, under the scheme, are taken to be eligible expenditure incurred by the entity during that income year; and
(b) the total grants in respect of TCF research and development expenditure made to the entity in respect of amounts that, under the scheme, are taken to be eligible expenditure incurred by the entity during that income year; and
(c) the total special grants in respect of second-hand TCF plant expenditure made to the entity in respect of amounts that, under the scheme, are taken to be eligible expenditure incurred by the entity during that income year.

Cap on grants to which the objective applies

(3)
The TCF (SIP) Scheme must make provision for ensuring that the total of the grants paid in respect of TCF value-adding to section 14A entities in a financial year does not exceed, by more than $3,900,000, the total of the grants in respect of TCF value-adding that would have been made to those entities in the financial year if the policy objective in section 14 had applied instead of the policy objective in this section.

Section 14A entities

(4)
In this section:

section 14A entity means an entity:

(a) that carries on, in Australia, the following leather and leather product manufacturing activities:
(i) post full substance activities (including sammying, splitting, shaving, tanning, currying, dressing, dyeing, embossing or japanning leather, animal skins or fur);
(ii) fur dressing and dyeing;
(iii) hide and skin tanning, currying, dressing, crusting, dyeing or finishing;
(iv) leather manufacturing;
(v) leather tanning; or
(b) that manufactures, in Australia, eligible TCF products to which any of the following headings of Schedule 3 to the Customs Tariff Act 1995 apply:
(i) heading 5601 of Chapter 56;
(ii) heading 5602 of Chapter 56;
(iii) heading 5603 of Chapter 56;
(iv) heading 5911 of Chapter 59.

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