STATES GRANTS (TAX REIMBURSEMENT).

No. 62 of 1947.

An Act to amend the States Grants (Tax Reimbursement) Act 1946.

[Assented to 4th December, 1947.]

[Date of commencement, 1st January, 1948.]

BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—

Short title and citation.

1.—(1.) This Act may be cited as the States Grants (Tax Reimbursement) Act 1947.

(2.) The States Grants (Tax Reimbursement) Act 1946 is in this Act referred to as the Principal Act.

(3.) The Principal Act, as amended by this Act, may be cited as the States Grants (Tax Reimbursement) Act 1946–1947.

Definitions.

2. Section four of the Principal Act is amended by inserting in the definition of “grant”, after the word “five”, the words “or section seven a”.

3. After section seven of the Principal Act the following section is inserted:—

Additional grant.

“7a.—(1.) In addition to the grant ascertained in accordance with the preceding provisions of this Act, there shall be payable by way of financial assistance, in respect of each year, commencing with the year ending on the thirtieth day of June, One thousand nine hundred and forty-eight, to each State which is entitled to share in the aggregate grant, the amount (if any) calculated in accordance with this section.

“(2.) The total amount which shall, subject to this Act, be distributed in grants to the States in pursuance of this section shall be—

(a) in respect of the year ending on the thirtieth day of June, One thousand nine hundred and forty-eight—the amount of Five million pounds; and

(b) in respect of each subsequent year—an amount equal to the amount (if any) by which the aggregate grant in respect of that year is less than Forty-five million pounds.

“(3.) The total amount payable under this section in respect of any year shall be divided amongst the States in the proportions in which the amount of Forty million pounds is divided amongst the States in the table set out in the First Schedule to this Act.

“(4.) If any State is not entitled to receive a grant under this section in respect of any year, the amounts payable under this section to the remaining States shall not thereby be increased.”.