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Changes to GST and appropriations are a victory for common sense
- By Stephen O’Flynn
- Published 30/11/2011
- Public perspective , Education Interests
- Unrated
On 24 November 2011 the Government released exposure draft legislation which will provide much needed clarity to the GST treatment of government appropriations. The proposed amendments are designed to ensure that payments by Government related entities (“GREs”) pursuant to an appropriation will generally only be subject to GST if they are made in the context of a commercial transaction.
GSTR 2001/D4 - The ATO updates its views on GST and grants
- By Moore Stephens Melbourne
- Published 8/11/2011
- Not for Profit Interests , Public perspective , Education Interests
- Unrated
On 2 November 2011 the Australian Taxation Office released Draft GST Ruling GSTR 2011/D4: Grants of Financial Assistance (the “Draft Ruling”). The draft ruling represents a substantial rewrite of an earlier ruling on the same topic, GSTR 2000/11 (the “Old Ruling”), and follows numerous court decisions which have both challenged and developed the ATO’s interpretation of the GST law.
Both providers and recipients of grants should review their GST treatment in light of the Draft Ruling, as some aspects of the ATO’s interpretation of the law have changed, particularly in the areas of peripheral supplies and tripartite arrangements.
Both providers and recipients of grants should review their GST treatment in light of the Draft Ruling, as some aspects of the ATO’s interpretation of the law have changed, particularly in the areas of peripheral supplies and tripartite arrangements.
Draft legislation concerning GST on Government fees and taxes has been released
- By Abi Chellapen
- Published 13/01/2011
- Public perspective
- Unrated
Draft legislation concerning GST on Government fees and taxes has been released
The Government has released draft legislation which proposes to overhaul the goods and services tax (“GST”) treatment of government taxes, fees and charges. Currently the Treasurer produces a biannual determination (a ruling which is binding on the Commissioner) which serves as an exhaustive list of GST exempt taxes, fees and charges. Broadly, the draft legislation proposes to move to a principles based exemption which allows government entities to self-assess the GST treatment of their fees and charges. It is proposed that the changes will take effect from 1 July 2011.
The Government has released draft legislation which proposes to overhaul the goods and services tax (“GST”) treatment of government taxes, fees and charges. Currently the Treasurer produces a biannual determination (a ruling which is binding on the Commissioner) which serves as an exhaustive list of GST exempt taxes, fees and charges. Broadly, the draft legislation proposes to move to a principles based exemption which allows government entities to self-assess the GST treatment of their fees and charges. It is proposed that the changes will take effect from 1 July 2011.