Further Supplementary Explanatory MemorandumAmendments to be moved on behalf of the Government (Circulated by authority of the Treasurer, the Hon Peter Costello, MP)
General outline and financial impact
The amendment to the A New Tax System (Indirect Tax and Consequential Amendments) Bill (No. 2) 1999 will increase the registration turnover threshold for a non-profit sub-entity to $100,000.
Date of effect : 1 July 2000.
Proposal announced : Not announced.
Financial impact : Negligible.
Compliance cost impact : Reduces compliance costs for those entities choosing the option.
A Regulation impact statement is not required for this measure.