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Australian Senate Standing Committee for the Scrutiny of Bills - Scrutiny Digests |
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Purpose
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This bill seeks to amend the A New Tax System (Goods and Services Tax)
Act 1999 to:
• introduce a reverse charge for business to business transactions
between suppliers and purchasers of gold, silver and platinum
to remove the
opportunity for a supplier to avoid paying GST to the Commissioner of Taxation
by liquidating; and
• clarify that precious metals are not second hand goods
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Portfolio
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Treasury
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Introduced
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House of Representatives on 1 June 2017
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The committee has no comment on this bill.
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URL: http://www.austlii.edu.au/au/other/AUSStaCSBSD/2017/193.html