WEDNESDAY, APRIL 12, 1989
18
BILL PROVIDES LEGISLATIVE EFFECT
TO INCREASE BUSINESS REGISTRATION FEE
INCREASE
A BILL PROVIDING LEGISLATIVE EFFECT TO
THE FEE FOR BUSINESS REGISTRATION, AS PROPOSED IN THIS YEAR'S BUDGET, WAS INTRODUCED INTO THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
MOVING THE SECOND READING OF THE BUSINESS REGISTRATION { AMENDMENT) BILL 1989, THE FINANCIAL SECRETARY, THE HON PIERS JACOBS, SAID THE FEE WOULD BE INCREASED FROM $550 TO $630 WITH EFFECT FROM APRIL 1.
MR JACOBS NOTED THAT THE FEE WAS LAST REVISED IN 1987.
"THE INCREASE IS DESIGNED TO
MAINTAIN THE REVENUE YIELD IN
REAL TERMS," HE SAID.
MR JACOBS ESTIMATED THAT THE INCREASE WOULD YIELD AN ADDITIONAL $37 MILLION IN THE CURRENT FINANCIAL YEAR.
"THIS FEE WILL APPLY TO ALL REGISTERED BUSINESSES, BUT SMALL BUSINESSES WILL CONTINUE TO BE GRANTED EXEMPTION, IF THEIR MONTHLY TURNOVER DOES NOT EXCEED CERTAIN PRESCRIBED LIMITS,
H MR JACOBS SAID.
DEBATE ON THE BILL WAS ADJOURNED.
BILL SEEKS LEGISLATIVE EFFECT ON DUTIABLE COMMODITIES
A BILL SEEKING TO GIVE EFFECT, FROM MARCH 1, TO THE ADJUSTMENT OF DUTY PAYABLE ON TOBACCO, ALCOHOLIC DRINKS AND HYDROCARBON OILS WAS INTRODUCED IN THE LEGISLATIVE COUNCIL TODAY (WEDNESDAY).
IT WAS PROPOSED THAT THE DUTY PAYABLE ON BEER SHOULD BE REVISED, WHILE THAT ON BRANDY BE REDUCED AND DUTY ON OTHER TYPES OF LIQUOR, INDUSTRIAL ALCOHOL, TOBACCO AND HYDROCARBON OILS SHOULD BE INCREASED.
1989, THE REPEALING
MOVING THE DUTIABLE COMMODITIES (AMENDMENT} BILL FINANCIAL SECRETARY, THE HON PIERS JACOBS, SAID THAT BY SECTION 63 OF THE ORDINANCE, THE BILL WOULD CHANGE THE METHOD OF ASSESSING DUTY PAYABLE ON BEER.
"IT WILL REPLACE AN ARCHAIC AND ADMINISTRATIVELY COSTLY SYSTEM BASED ON SPECIFIC GRAVITY BY A SYSTEM WHICH REQUIRES ASSESSMENT THE VOLUME OF BEER RELEASED FOR LOCAL SALE, HE SAID.
ON
"THE NEW
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