Friday, 15th December 2017
1:52:pm in Sydney
31
May
2013

New rules regarding GST refunds and payment by instalments

Friday, 31 May 2013

On 28 May 2013, the House of Representatives passed without amendment a Bill which includes new rules regarding GST refunds and payment by instalments. More specifically, entities which currently pay their GST liability by instalments will be affected. The changes will allow such entities to elect to continue to pay their GST liability by instalments even in circumstances where the entity becomes entitled to a refund of GST. The instalment option was first introduced in 2001 to ease the compliance burden on small businesses. The Explanatory Memorandum in relation to the relevant Bill (Tax and Superannuation Laws Amendment (2013 Measures No. 2) Bill 2013) can be found here.

 

Comments (1)

  • Paul

    Paul

    23 June 2013 at 09:05 |
    What does this mean for small businesses travelling to Australia?

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