26 February 2010

Bill on GST administration of cross-border transport open for consultation

The Assistant Treasurer, Senator Nick Sherry, has today released draft legislation aimed at improving the operation of the GST law by streamlining its application to the domestic transport of imported and exported goods, for public comment.

"The draft Bill will reduce the compliance costs for Australian and overseas businesses involved in the transportation of goods, by making the GST law more certain," the Assistant Treasurer said.

"This draft Bill directly addresses concerns relating to the administration of the GST that the transport industry has raised with the Government."

The changes to the law will reduce the involvement of non-residents in the Australian GST system, improve consistency in the GST treatment of postal and non-postal containerised goods, and assist domestic sub-contracted transport suppliers with GST compliance.

"I urge anyone involved in the domestic transport of imported and exported goods to look at the proposed legislation and provide your views," the Assistant Treasurer said.

"The input of stakeholders plays a central role in designing law changes and the Rudd Government is committed to consulting before finalising the legislation."

The draft Bill is now available at www.treasury.gov.au and consultation closes on Friday 5 March 2010.