Review of the legal framework for the administration of the GST
On 18 July 2008, the Board of Taxation released its issues paper on the Review of the legal framework for the administration of the GST. A copy of the issues paper is available for download.
The Chairman of the Board of Taxation announced the release of the issues paper via a press release.
The Board has developed the issues paper to facilitate public consultation. The Board held extensive consultation with stakeholders in August 2008. Consultation meetings were held in Sydney, Brisbane, Melbourne, Darwin, Perth and Albury. A summary of the key issues from each consultation meeting are available to download.
The Board requested written submissions on the review of the legal framework for the administration of the GST by 15 September 2008. All submissions received were acknowledged. Copies of public submissions made to the Board are available from the GST Administration Review submissions page.
Background
On 11 June 2008 the Assistant Treasurer announced that he had asked the Board of Taxation to undertake a review of the legal framework for the administration of the GST. The press release from the Assistant Treasurer and Minister for Competition Policy and Consumer Affairs announcing the Board's review and detailing the terms of reference for the review is available from the Assistant Treasurer's website.
This review will replace the Board's previous review of the application of the self-assessment principles to other taxes administered by the Taxation Commissioner. In addition, the Board has been asked to consider the implications of any possible changes to GST administration provisions for other indirect taxes that currently share common tax administration provisions in the Tax Administration Act or the GST Act.
The focus of the review will be on:- Streamlining and improving the operation of the GST;
- Reducing compliance costs; and
- Removing anomalies.
In pursuing the terms of reference, the Board has been asked that its consultations and recommendations focus on the legal framework for the administration of the GST as set out in the Tax Administration Act and GST Act. The Board's review will not extend to the rate of the GST or the scope and extent of what goods and services are subject to the GST.
The Board has appointed a working group of its members comprising Eric Mayne (Chairman), Chris Jordan AO, Curt Rendall and Dick Warburton AO to oversee the Board's review.
The Board has been asked to consult with stakeholders including small and large businesses, professional bodies and State and Territory Governments. The Board has been asked to provide a final report to the Government by the end of December 2008.
Further information on this review can be obtained from Anne Millward (02 6263 4363) at the Board of Taxation Secretariat.
