Document ID: chunk:federal_register_of_legislation:C2010C00583:clause:11_18:p11
Version: federal_register_of_legislation:C2010C00583
Segment Type: clause
Provision Reference: sch 11 cl 18 (pt 11/18)
Character Range: 128636–131505

by the Treasurer under subsection (2); and
 (c) for any later financial year:
 (i) if subparagraph (ii) does not apply—the same fraction as the average input tax credit fraction for the scheme for the preceding financial year; or
 (ii) if, under subsection (3), the Treasurer determines the average input tax credit fraction for the scheme for the financial year—that fraction.

Treasurer to determine business vehicle use fraction for 2003‑4 to 2006‑7 financial years using statistical information

 (2) As soon as practicable after the commencement of this section, the Treasurer must, in writing, determine the business vehicle use fraction (see subsection (4)) for each *compulsory third party scheme, using statistical information that:
 (a) relates to business and total use of vehicles in the State or Territory in which the scheme operates; and
 (b) was published on 27 June 2001 by the Australian Bureau of Statistics in respect of the period 1 November 1999 to 31 October 2000.

Treasurer to use later statistical information to determine whether average input tax credit fraction to be varied for later financial years

 (3) As soon as practicable after the beginning of each of the following *financial years (a determination year):
 (a) the financial year that begins on 1 July 2006;
 (b) the financial years that begin on each 1 July that occurs 3 years, or a multiple of 3 years, after 1 July 2006;
the Treasurer must, for each *compulsory third party scheme:
 (c) work out business vehicle use fractions (see subsection (4)) using each set of statistical information, relating to business and total use of vehicles in the State or Territory in which the scheme operates, published by the Australian Bureau of Statistics during the 3 financial years before the determination year; and
 (d) work out the average of those fractions (the new fraction); and
 (e) if the Treasurer considers the new fraction is significantly different from the average input tax credit fraction that would, disregarding this subsection, apply under subparagraph (1)(c)(i) for the scheme for the financial year (the operative year) following the determination year—in writing, determine that the new fraction is to be the average input tax credit fraction for the scheme for the operative year.

Business vehicle use fraction

 (4) The business vehicle use fraction is the fraction of total vehicle use, in the State or Territory in which the *compulsory third party scheme operates, represented by business vehicle use.

Publication of revised statistical information

 (5) To avoid doubt, if, after publishing statistical information relating to business and total use of vehicles in a State or Territory, the Australian Bureau of Statistics publishes a revised or replacement version of that statistical information, that revision or replacement is to be disregarded for