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13 Oct 10 Treasury releases GST legislation Exposure Draft - Running balance account and non-profit sub-entities

On 12 October 2010, Treasury released exposure draft legislation and draft explanatory memoranda concerning changes to improve the administration of the GST law as it relates to the running balance account and non-profit sub-entities. This legislation will implement recommendations 39 and 43 of the Board of Taxation’s review of the legal framework for the administration of the GST, which were agreed by the Government on 12 May 2009.

The closing date for submissions is Wednesday 27 October 2010.


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