House of Representatives

Explanatory Memorandum

(Circulated by the authority of the Treasurer, the Hon. J.S. Dawkins, M.P.)

A. General Outline

The Sales Tax Laws Amendment Bill (No. 1) 1992 will reduce the rate of sales tax that applies to certain passenger motor vehicles, from 20% to 15%.

2. The change will apply to any taxable dealing with motor vehicles that occurs on or after 27 February 1992.