Govt seeks feedback on company tax change March 25, 2013 - 8:04PM The federal government is seeking feedback from business on its plan to make company tax payments monthly instead of quarterly. The proposal was announced in last October's mid-year budget review, raising an additional $8.3 billion in government revenue in the first three years. Releasing the government's exposure draft legislation on Monday, Assistant Treasurer David Bradbury said the changes would make the tax system more responsive, efficient and consistent by better matching tax collections with the economic conditions faced by business. "This change continues the reform of the company tax instalment system that began in the late 1980s," Mr Bradbury said in a statement. Consultation on the exposure draft will close on April 12. The changes are expected to be implemented in three stages. Companies that meet or exceed a $1 billion annual turnover threshold will migrate to the new system from January 1, 2014. Those that meet or exceed annual turnover thresholds of $100 million will change from January 1, 2015, and those of $20 million will be a year later.