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.