New South Wales

Pay-roll Tax Amendment (Further Rate Reduction) Bill 1999




Explanatory note


This explanatory note relates to this Bill as introduced into Parliament.


This Bill is cognate with the Appropriation Bill 1999.




Overview of Bill



The object of this Bill is to further reduce the rate of pay-roll tax:

(a) from 6.4% to 6.2% from 1 July 2001, and
(b) from 6.2% to 6.0% from 1 July 2002.

The proposed Pay-roll Tax Amendment (Apprentices Concession and Rate Reduction) Act 1999 reduces the rate of pay-roll tax from 6.7% to 6.4% on wages paid or payable for services rendered on or after 1 July 1999.


Outline of provisions



Clause 1 sets out the name (also called the short title) of the proposed Act.

Clause 2 provides for the commencement of the proposed Act on the date of assent.

Clause 3 is a formal provision giving effect to the amendment to the Pay-roll Tax Act 1971 set out in Schedule 1 and that is required to achieve the object of this Bill.

Note: If this Bill is not modified, these Explanatory Notes would reflect the Bill as passed in the House. If the Bill has been amended by Committee, these Explanatory Notes may not necessarily reflect the Bill as passed.

 

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