On 18 January 2011, the Assistant Treasurer released for public consultation exposure draft legislation to harmonise the self actuating system for goods and services tax (GST), wine equalisation tax (WET), luxury car tax (LCT) and fuel tax credits with the income tax system of self assessment.
In response to submissions, the Government announced in the 2011-12 Budget that the start date for the measure would be deferred to allow for further consultations.
Treasury has now released revised exposure draft legislation for public consultation. The revised draft legislation seeks to address some of the issues arising from public consultation
The closing date for submissions is Tuesday 20 September 2011.