Draft Legislation for the Small Business and General Business Tax Break

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Abstract:

On 25 February 2009, the Treasurer released an exposure draft of the Tax Laws Amendment (Small Business and General Business Tax Break) Bill 2009 and associated explanatory material. The Small Business and General Business Tax Break was announced on 3 February 2009 as part of the Government’s Nation Building and Jobs Plan. The Tax Break is one of the measures being implemented by the Government to support economic growth and employment in Australia in the face of a deteriorating global economic environment.

Further information about the Tax Break is available in the Treasurer’s Press Release No 12 of 3 February 2009. Treasury has also produced a series of frequently asked questions about the Tax Break.

Interested parties are invited to comment on the exposure draft legislation and explanatory memorandum. While submissions may be lodged electronically or by post, electronic lodgement is preferred. For accessibility reasons, please email responses in a Word or RTF format. An additional PDF version may also be submitted.

All information (including name and address details) contained in submissions will be made available to the public on the Treasury website unless you indicate that you would like all or part of your submission to remain in confidence. Automatically generated confidentiality statements in emails do not suffice for this purpose. Respondents who would like part of their submission to remain in confidence, should provide this information marked as such in a separate attachment. A request made under the Freedom of Information Act 1982 (Commonwealth) for a submission marked 'confidential' to be made available will be determined in accordance with that Act.

Closing date for submissions: Close of business Tuesday, 10 March 2009

Address written submissions to:
Small Business and General Business Tax Break – Consultation
Business Tax Division
The Treasury
Langton Crescent
PARKES  ACT  2600

Documents Available:

 Acrobat (PDF)

 Microsoft Word (RTF)

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