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20 Jun 07 Simplified GST Accounting Bill 2007 passed by House

On 19 June 2007, Tax Laws Amendment (Simplified GST Accounting) Bill 2007 was passed by the House of Representatives without amendment. The Bill was introduced into Parliament on 13 June 2007: see 2007 TAXVINE No 23 (12) (15 June 2007). The Bill amends the A New Tax System (Goods and Services Tax) Act 1999 to enable the Commissioner of Taxation to extend simplified goods and services tax accounting methods to more small businesses and other entities with an annual turnover of less than $2 million.

The Bill now proceeds to the Senate.

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