Senate
Taxation Laws Amendment Bill (No. 3) 2001
Explanatory Memorandum
(Circulated by authority of the Treasurer, the Hon Peter Costello, MP)This Memorandum takes account of amendments made by the House of Representatives to the Bill as introduced
The GST return is the document on which GST is regularly reported. Under the new arrangements, some GST returns will continue to form part of the BAS, while annual GST returns may be lodged separately in some cases.
In this statement, the BAS and IAS are referred to collectively as the BAS.
References are to the label field identifiers in the existing BAS.
Revenue impact: this change would have a one-off revenue cost of $100 million in 2001-2002. The measure would affect approximately 1.1 million taxpayers.
Revenue impact: this change would have a one-off revenue cost of $200 million in 2001-2002 being the $100 million arising from option 1 and a further $100 million from the additional entities. The measure would affect approximately 1.5 million taxpayers.
Revenue impact: the addition of this group will have an insignificant impact on the revenue.
Revenue impact: nil.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
