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12 May 1111 2011 Measures No 3 Bill introduced into Parliament

Tax Laws Amendment (2011 Measures No 3) Bill 2011 was introduced into the House of Representatives on 12 May 2011. The following is extracted from the Explanatory Memorandum.

SCHEDULE 1 to the Bill amends the A New Tax System (Goods and Services Tax) Act 1999 to allow supplies of particular types of new recreational boats to be GST-free if the boats are exported within a specified 12-month period. Date of effect: 1 July 2011.

SCHEDULE 2 to the Bill amends the Income Tax (Transitional Provisions) Act 1997 to remove a technical deficiency that prevents the ongoing imposition of the general interest charge in some circumstances. These amendments apply from 1 July 2010.

Debate on the Bill was adjourned.


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