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Exposure Draft - GST legislation - Running balance account and non-profit sub-entities


Tuesday, 12 October 2010

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The Treasury has released exposure draft legislation and draft explanatory memoranda concerning changes to improve the administration of the GST law as it relates to the running balance account and non-profit sub-entities. This legislation will implement recommendations 39 and 43 of the Board of Taxation’s review of the legal framework for the administration of the GST, which were agreed by the Government on 12 May 2009.

Making a submission

Interested parties are invited to comment on the exposure draft material. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please submit responses sent via email in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence should provide this information marked as such in a separate attachment. Legal requirements, such as those imposed by the Freedom of Information Act 1982, may affect the confidentiality of your submission.

Closing date for submissions: Wednesday, 27 October 2010

Address written submissions to:
The General Manager
Indirect Tax Division
The Treasury
Langton Crescent

Email: GSTadministration@treasury.gov.au

For enquiries, please call Neil Russell on (02) 6263 3226.

Documents Available:

Acrobat (PDF) documents

 Acrobat (PDF)

Running Balance Account Draft Bill  13.19kb
Running Balance Account Explanatory Memorandum  23.44kb
Non-Profit Sub-Entities Draft Bill  17.67kb
Non-Profit Sub-Entities Explanatory Memorandum  30.96kb

Microsoft Word (RTF) documents

 Microsoft Word (RTF)

Running Balance Account Draft Bill  92.83kb
Running Balance Account Explanatory Memorandum  202.59kb
Non-Profit Sub-Entities Draft Bill  114.42kb
Non-Profit Sub-Entities Explanatory Memorandum  208.29kb

Related Items:

Government response to the Board of Taxation Review of the legal framework for the administration of the GST - Second Discussion Paper - 11/09/2009
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Submissions: Exposure Draft - GST legislation - Running balance account and non-profit sub-entities - 30/11/2010

Treasury received three submissions in response to the exposure draft on GST legislation - Running balance account and non-profit sub-entities. Two of these are public submissions and one is confidential. The public submissions are listed below and is accessible by selecting the author.

The opinions expressed in the submissions are those of the authors and do not necessarily reflect the views of the Government or the Treasury.

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