Summary of changes
- In the 2010-11 Budget, the government announced it would amend the GST law to replace the current mechanism (see Division 81 of the GST Act) for exempting Australian taxes, fees and charges with a principled-based legislative exemption. The aim of the amendments is to relieve the Government from the administrative burden of updating the list of exemptions and to increase certainty. The amendments will also allow government entities to self-assess the GST treatment of a tax, fee or charge, rather than having to have it listed in a Determination.
- The measures will take effect from 1 July 2011, but the current list in Division 81 will continue to apply until 1 July 2012. For a the current listing of exempt taxes, fees and charges, press here.
Links to documents
Legislation received Royal Assent on 27 June 2011:
- Tax Laws Amendment (2011 Measures No.2) Act 2011
- Explanatory Memorandum
- Regulations issued for the purposes of Division 81 of the GST Act
Legislation introduced into Parliament 24 March 2011
Exposure Drafts and submissions
- Assistant Treasurer’s release issued on 11 January 2011 – media release No 004/2011
- Exposure Draft – 11/1/11 – Tax Laws Amendment (2011 Measures No.2) Bill 2011: exempting taxes, fees and charges from the GST
- Explanatory Memorandum to Exposure Draft
- Summary of Consultation Process
- Submissions on Exposure Draft Legislation
- Brisbane City Council
- CPA Australia
- Law Council of Australia
- Local Government Managers Australia New South Wales
- Property Council of Australia
- Taxation Institute of Australia
- The Institute of Chartered Accountants in Australia
- Exposure Draft – 19 April 2011 – A New Tax System (Goods and Services Tax) Amendment Regulation 2011
- Explanatory Statement to Regulations
- Consultation Summary
- Submissions on Exposure Draft Regulations
All about GST in Australia 