Summary
Amends the: A New Tax System (Luxury Car Tax) Act 1999 to: reduce the maximum fuel consumption for a car to be considered fuel-efficient to 3.5 litres per 100 kilometres; and align the indexation rates for luxury car tax thresholds; Income Tax Assessment Act 1997 to remove income tax deductions for amounts of general interest charge and shortfall interest charge; and Taxation Administration Act 1953 to extend the period within which the Commissioner of Taxation must notify a taxpayer of their decision to retain a business activity statement refund.