The ATO Wed 19.9.2012, issued an Addendum to Miscellaneous Taxation Ruling MT 2010/1 (Restrictions on GST refunds under s 105-65 of Sch 1 to the TAA) to reflect the Federal Court’s decision in International All Sports & Anor v FCT (2011) 81 ATR 607. In that case, the Federal Court held that the global GST amount of entities, which carried on a book making business should include monetary prizes paid to overseas gamblers, which had the effect of reducing the amount of GST payable. The Addendum applies both before and after its date of issue.
[LTN 182, 19/9]