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Taxation

It is the role of the Treasury to provide advice on effective tax and retirement income arrangements that contribute to the overall fiscal outcome, influence strong sustainable economic growth for the good of the Australian people. The Treasury is responsible for assessing and advising on the general design of the tax system and its components, and retirement income policy, in relation to economic efficiency, equity, income distribution, budgetary requirements and economic feasibility.

Consultations

  •  - Open13 days left to have your sayExposure Draft

    The draft legislation will extend the concessional draught beer excise rates to 8 litre or greater individual containers, from 1 July 2019. Currently, draught beer sold in individual containers exceeding 48 litres is taxed at lower rates compared with beer sold in individual containers up to and including 48 litres. However, the lower rates mainly […]

  •  - Open4 days left to have your say

    Treasury is seeking comments on the draft definition of ‘feminine hygiene products’ for GST purposes. At the Council on Federal Financial Relations (CFFR) meeting on 3 October 2018, the Commonwealth and states and territories agreed to make feminine hygiene products GST-free from 1 January 2019. Comments on the draft definition close on Monday 22 October 2018.

  •  - Open34 days left to have your sayDiscussion Paper

    The purpose of this paper is to seek stakeholder views on the Government’s proposed implementation of the amendments to Division 7A of the Income Tax Assessment Act 1936. The amendments draw on recommendations from the Board of Taxation and include: simplified Division 7A loan rules to make it easier for taxpayers to comply; a self-correction […]

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