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Contained within last
night's Federal Budget was an advice from the Treasurer proposing changes
to the GST law that AFIF, as part of the associated industry group -
AITSP (AFIF, CBFCA, CAPEC, AIMA), have been lobbying to gain for more than
two years.
Whilst the changes, once approved and
drafted will only take effect from July 2010, we will be working with AITSP
through our consultant for the project, PWC, to assist the ATO and Treasury
to draft the relevant amending legislation.
The following notes have been extracted from the Treasury Discussion Paper
(GST and Cross -Border Transport Supplies) issued today, which outline the
proposals. Whilst some issues such as retrospectivity have not
been defined and, whilst these issue are subject to comment through
submissions and an approval process, this news should be viewed as
extremely positive in that we will finally achieve some clarity and
certainty in the consistent application of GST for our industry sector.
Please click
here to view the GST and Cross-Border Transport Supplies discussion
paper.
We will continue to keep you informed
of progress in the matter and at this point also give thanks to Tradegate
who have assisted this project continuously, with funding of the PWC
consultancy involvement.
Regards
Brian Lovell
Chief Executive Officer
Australian Federation of International Forwarders Ltd (AFIF)
Suite 403, Level 3
152 Bunnerong Road
Eastgardens NSW 2036
Tel: (61 2) 9314 3055
Fax: (61 2) 9314 3116
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