International Law

GST administration refinements

By David Jacobson

The Assistant Treasurer has released exposure draft legislation and an exposure draft explanatory memorandum concerning changes to GST administration.

The measures in the draft legislation form part of a package of reforms that were originally announced in the 2009?10 Budget and include:

• allowing entities to self?assess their eligibility to form, alter or revoke a GST group or joint venture and to do so at any time during a tax period;
• introducing clear exit rules for entities leaving GST groups or joint ventures;
• expanding the income tax rulings system to include indirect taxes; and
• reforming the tax invoice rules to allow one or more documents to satisfy the tax invoice requirements.

Full post as published by Australian Regulatory Compliance Review on January 24, 2010 (boomark / email).