Options Fairness and equity Efficiency of compliance and Sustainability of tax system Fiscal administration 1. Status quo with no All GST registered persons and Compliance and administrative threshold above which businesses can choose whether costs depend on the level of taxpayers are required to to file GST returns uptake of voluntary electronic file GST returns electronically or on paper. GST return filing within the new electronically. START system. 2. Introduce a framework No better than status quo. Significantly better than the Better than the status quo. No impact. that allows for an status quo. electronic filing threshold Fairness and equity will be Electronic GST returns are to be set for the filing of considered when the level of Compliance and administrative processed faster. GST returns by the threshold is set. costs are lower than under the status quo. 3. Introduce a Better than the status quo Significantly better than the Better than the status quo. No impact at filing penalty of status quo. this stage may – $250 as part of the The level of penalty is Encourages taxpayers to file have impact framework under option 2. consistent with existing Encourages taxpayers to file electronically when required when a thresholds for larger businesses electronically when required and which enables faster processing threshold is set such as the late filing penalty recovers the additional costs of of GST returns. and for GST returns and the administering paper returns. implemented in existing minimum the future. filing penalty in relation to PAYE.
Options Fairness and equity Efficiency of compliance and administration Sustainability of tax system Fiscal 1. Status quo with no threshold above which taxpayers are required to file GST returns electronically. All GST registered persons and businesses can choose whether to file GST returns electronically or on paper. Compliance and administrative costs depend on the level of uptake of voluntary electronic GST return filing within the new START system. 2. Introduce a framework that allows for an electronic filing threshold to be set for the filing of GST returns by No better than status quo. Fairness and equity will be considered when the level of the threshold is set. Significantly better than the status quo. Compliance and administrative costs are lower than under the status quo. Better than the status quo. Electronic GST returns are processed faster. No impact. 3. Introduce a filing penalty of $250 as part of the framework under option 2. Better than the status quo The level of penalty is consistent with existing thresholds for larger businesses such as the late filing penalty for GST returns and the existing minimum filing penalty in relation to PAYE. Significantly better than the status quo. Encourages taxpayers to file electronically when required and recovers the additional costs of administering paper returns. Better than the status quo. Encourages taxpayers to file electronically when required which enables faster processing of GST returns. No impact at this stage – may have impact when a threshold is set and implemented in the future.
2017-ris-areiirm-bill-5.docx