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Brief
The A New Tax System (Goods and Services Tax Imposition (Recipients)—General) Act 2005 is an Act that implements a New Tax System by imposing the tax payable under the Goods and Services Tax (GST) law. The GST law imposes taxes on recipients of taxable supplies, which are neither duties of customs nor excise.
The Act commences on 1 July 2005 and applies to recipients of taxable supplies. It imposes a rate of 10% for GST payable under the law. However, it does not impose a tax on property belonging to any State, as per section 114 of the Constitution.
This legislation aims to implement the New Tax System and ensure that businesses comply with the GST laws. The Act provides clarity on the imposition of GST and its application to recipients of taxable supplies.
The A New Tax System (Goods and Services Tax Imposition (Recipients)—General) Act 2005 No. 3, 2005, was assented to on February 18, 2005, by the Parliament of Australia.
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