Summary
Amends the: A New Tax System (Goods and Services Tax) Act 1999 to ensure that the goods and services tax (GST) is applied consistently to all supplies of digital products and other imported services to Australian consumers; and relieve non-resident suppliers of the obligation to account for GST on certain supplies; A New Tax System (Australian Business Number) Act 1999, A New Tax System (Goods and Services Tax) Act 1999 and Taxation Administration Act 1953 to make consequential amendments; Income Tax Assessment Act 1997 to increase the maximum amount that can be held in farm management deposits (FMDs) by a primary producer to $800 000; and enable certain primary producers experiencing severe drought conditions to withdraw an amount that has been held in an FMD for less than 12 months; Income Tax Assessment Act 1997 and Taxation Administration Act 1953 to enable FMDs to be used to offset loans or other debts; and Income Tax Assessment Act 1997 to make a technical amendment.