Guide to self-assessment for indirect taxes
An assessment system applies to indirect tax laws from 1 July 2012. It applies to goods and services tax (GST), luxury car tax (LCT), wine equalisation tax (WET), and fuel tax credits.
The assessment system applies to:
- all payments and refunds relating to tax periods and fuel tax return periods starting on or after 1 July 2012
- payments and refunds relating to certain liabilities or entitlements (arising on or after the start date) that do not relate to tax periods and fuel tax return periods.
The assessment system allows you to self-assess your tax-related liabilities and tax-related entitlements through lodgment of the relevant return for a tax period. It also:
- allows for a four-year period of review for assessments that will be refreshed in respect to particulars that have been amended
- confirms in the GST Act that LCT and WET are included in the calculation of the net amount
- establishes a set of generic assessment provisions.