Submitted by
Moderator - Board of Taxation Secretariat
Date
17/03/2016
Issue
Each State has its own system with inconsistent record keeping requirements in relation to Royalties. To ease compliance burdens and reduce uncertainty, consider developing a 'pro-forma' system that each of the States could adopt.
Board response
The Board understands that this idea has been raised several times in the past and has been discussed with the States.
The Board notes that any change to the GST rate or base requires unanimous agreement of all the States and the Federal Government.
The Board has passed these concerns on to the appropriate area within Treasury for their consideration.