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15 Jun 11 2011 Measures No 3 Bill passes

On 15 June 2011 the Tax Laws Amendment (2011 Measures No 3) Bill 2011 passed the Senate without amendment, and now awaits the Royal Assent.

This 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, with effect from 1 July 2011, and
  • amends the Income Tax (Transitional Provisions) Act 1997 to enable the ongoing imposition of the general interest charge in certain circumstances, with effect from 1 July 2010.