The Goods and Services Tax: Adjustment Note Information Requirements Amendment Determination 2013 was registered on the Federal Register of Legislative Instruments on Wed 21.8.2013.
The amendments clarify A New Tax System (Goods and Services Tax) Adjustment Note Information Requirements Determination 2012 to ensure that the effect of paras 5(1)(g), 5(2)(g) and subclause 5(4) is applied consistently. The amendments are taken to have commenced on 1 July 2010.
Waiver of adjustment note requirements
The following Instruments were also registered on Wed 21.8.2013:
- New Tax System (Goods and Services Tax) Waiver of Adjustment Note Requirement (Decreasing Adjustments Relating to Reimbursements of an Employee etc) Legislative Instrument 2013 – provides that a decreasing adjustment (arising from an adjustment event in respect of an acquisition covered by s 111-5 of the GST Act) is attributable to a tax period when an entity holds a document (that meets the requirement of the Instrument) other than an adjustment note. [Div 111 has to do with reimbursing employees]
- A New Tax System (Goods and Services Tax) Waiver of Adjustment Note Requirement (Decreasing Adjustments Relating to Supplies made by or to a Partnership) Legislative Instrument 2013 – provides that a decreasing adjustment (arising from an adjustment event in respect of a supply made by a partnership or to a partnership where the total price was at least id=”mce_marker”,000) is attributable to a tax period when an entity holds a document (that meets the requirement of the Instrument) other than an adjustment note.
The Instruments commence on Wed 21.8.2013 and apply to tax periods for which the GST return is given to the Commissioner on or after Wed 21.8.2013.
[LTN 161, 21/8/13]