A New Tax System (Goods and Services Tax Imposition (Recipients)—Customs) Act 2005

The A New Tax System (Goods and Services Tax Imposition (Recipients)—Customs) Act 2005 is an Act that implements a new tax system by imposing the Goods and Services Tax (GST) on recipients of taxable supplies, which is a duty of customs. The Act was assented to on February 18, 2005.

The Act commences on July 1, 2005, and imposes GST only so far as that tax would be imposed on the recipient of a taxable supply and is a duty of customs within the meaning of section 55 of the Constitution. The rate of GST payable under the GST law is 10%.

The Act does not impose a tax on property of any kind belonging to a State, with the same definition as in section 114 of the Constitution. This means that the Act only applies to taxable supplies and does not extend to property owned by States.

This legislation aims to implement the A New Tax System, which has been a subject of discussion for some time. The introduction of GST is expected to generate revenue for the Australian government.