According to this Draft Determination, a supply of capacity in an international telecommunication network made by an Australian resident telecommunication supplier is a supply in relation to rights which is GST-free under item 4 in the table in s 38-190(1) of the GST Act provided that: the rights are for use outside Australia; or the…
This Draft Determination provides that telecommunication supplies made under arrangements for global roaming outside Australia by an Australian resident telecommunication supplier are GST-free under item 3 in the table in s 38-190(1) of the GST Act when: the supply is made to the subscriber who is not in Australia when the thing supplied is done;…
This Draft Determination says supplies of interconnection services (eg IDD calls, video conferencing, toll-free calling, reverse charge calls) made by an Australian resident telecommunication supplier to a non-resident are GST-free under item 2 in the table in s 38-190(1) of the GST Act if the non-resident is not in Australia when the thing supplied is…
This GST Determination, released on Wed 6.6.2012, sets out the Commissioner’s views on the creditable purpose of acquisitions relating to currency exchange transactions by an entity carrying on an enterprise of retail foreign exchange services in Australia and is registered for the GST. Generally, the Determination states that acquisitions related to an entity’s retail foreign…
The AAT has affirmed the Commissioner’s decision that a taxpayer was liable for GST in relation to a series of transactions in the period 1 January 2004 to 31 March 2007 and for a penalty for failing to lodge GST returns for the same period. The taxpayer maintained at no time was he required personally…
In a decision handed down on Wed 20.6.2012, the Full Federal Court has dismissed a taxpayer’s appeal from an AAT decision that had denied the taxpayer’s claim that supplies made under amended pre-GST leases during the relevant periods were GST-free pursuant to s 13 of the GST Transition Act. The taxpayer had claimed refunds totalling…
The A New Tax System (Goods and Services Tax) Amendment Regulation 2012 (No 2) was registered on the Federal Register of Legislative Instruments on Thur 28.6.2012. The Regulation, in conjunction with the provisions of Div 81 of the GST Act, provides the mechanism for entities to determine the GST treatment of Australian fees and charges.…
Tax and Superannuation Laws Amendment (2012 Measures No 1) Bill 2012 – was enacted as Act No 75 of 2012 and contains amendments concerning: giving the Commissioner discretion to withhold “high risk” GST refunds; GST-free health supplies; GST treatment of appropriations; pause indexation of super concessional contributions cap; provide a refund option for excess super…
In the 2012-13 Budget, the Government announced that it would amend the GST law to ensure that credit unions do not lose access to a reduced input tax credits for credit union services when they rebrand as banks but otherwise do not change their corporate structure. A draft regulation to amend the GST Regulations has…
The Tax Office has released the following tax return forms, schedules, and accompanying guides: Advanced guide to CGT concessions for small business 2011-12 Ancillary fund return 2012 for the period 1 July 2011 to 30 June 2012 Ancillary fund return instructions 2012 Business and professional items 2011-12 Business and professional items schedule for individual 2011-12…