The Assistant Treasurer has released draft legislation, regulations and explanatory material to implement the following announced GST administration measures:
- Limiting claims for input tax and fuel tax credits to four years
- Introducing a bulky goods export refund scheme for Australian External Territory residents
- Expanding the GST rules for transactions undertaken by agents
- Clarifying how the GST law applies to offshore gambling transactions
- Clarifying the Commissioner's power to recover overpaid refunds
- Clarifying the interaction of the GST associate provisions
- Increasing the adjustment note threshold.
Submissions close on 27 October 2009.