*GSTR 2012/1 – GST: loyalty programs – the customer’s payment is for the goods or services purchased and should not be apportioned to the points [G5]

This GST Ruling, released on Wed 4.4.2012, deals with the GST implications of certain loyalty programs. It considers the GST ramifications of: (i) the accrual of points by members; (ii) the loyalty program arrangements involving program partners; and (iii) the redemption of points and provision of rewards. The Ruling states that when a member pays…

*Qantas GST Appeal to High Court – written submissions on High Court Website and appeal will be heard in Brisbane on 4 June 2012 [G4]

On 10 February 2012, the High Court granted the Commissioner special leave to appeal against the Full Federal Court decision in Qantas Airways Ltd v FCT [2011] FCAFC 113. The Full Federal Court had unanimously allowed an appeal by Qantas Airways Ltd against an earlier AAT decision that the airline makes a supply for GST…

*Indirect Tax Laws Amendment (Assessment) Bill 2012 gets Royal Assent – making returns into assessments (self assessment) [G3]

The following Bills received Royal Assent on 15 April 2012: Indirect Tax Laws Amendment (Assessment) Bill 2012 – Act No 39 of 2012. The Bill had passed all stages without amendment. It amends the TAA, the GST Act and other taxation Acts to harmonise the current self-actuating system that applies to GST, the luxury car…

GST: deferred transfer farm-out arrangements – legislative instrument under Div 29 registered [G2]

The ATO on Mon 16.4.2012, registered a Legislative Instrument to prevent the provisions of Div 29 of the GST Act applying in a way that is inappropriate in particular circumstances under a deferred transfer farm-out arrangement to which Miscellaneous Taxation Ruling MT 2012/2 (Application of the income tax and GST laws to deferred transfer farm-out…

*GST: adjustment note and recipient created invoice requirements information requirements – Determination made [G1]

The A New Tax System (Goods and Services Tax) Adjustment Note Information Requirements Determination 2012 was registered on the Federal Register of Legislative Instruments on Tue 3.4.2012. It specifies the other information requirements for adjustment notes and recipient created adjustment notes for the purposes of s 29-75(1) of the GST Act, following legislative amendments allowing…

Project Wickenby results update [R9]

The ATO has released the most recent Project Wickenby results. It said as at 29 February 2012 the taskforce had resulted in: $1.275bn in tax liabilities raised; $292.7m in monies recouped from tax collections; $306.7m in monies recouped from tax collections in subsequent years from people subject to Project Wickenby action; $2.1m of other monies…

*PS LA 2012/1 – principles guiding the management of high risk technical issues [R8]

The ATO on Tue 10.4.2012, issued Practice Statement Law Administration PS LA 2012/1<http://info-anz.thomson.com/t/11403525/105811750/90239/0/> outlining the principles guiding the management of high risk technical issues, including the engagement of ATO tax technical officers in Law and Practice on the issues. The ATO says a guide has been developed to assist tax officers in the effective application…