Extending access to the GST instalment system

On 20 March 2013, the government introduced legislation into parliament to make amendments to the A New Tax System (Goods and Service Tax) Act 1999.

The amendments will allow taxpayers participating in the GST instalment system who move into a net GST refund position to have continued access to the GST instalment system. Taxpayers in a net refund position will receive an instalment amount each quarter of zero.

New legislation will apply from the first quarterly tax period commencing 1 July following royal assent.

Legislation and supporting material

Tax and Superannuation Laws Amendment (2013 Measures No. 2) Bill 2013 and Explanatory Memorandum, were tabled in parliament on 20 March 2013.

More information Refer to: Draft legislation and Explanatory Memorandum were released on 5 November 2012. Submissions closed on 4 December 2012. Federal Budget Paper No 2 - Revenue Measures A discussion paper on the proposed amendments for public comment was issued on 7 June 2011.