GST minutes, March 2010

2. Removal of matters from current issues list

Paul asked members if they had any objections to the removal of the matters listed on page 5 of the agenda. No objection was made by members so the following matters were removed from the issues list.

No.	Issue	Reason
1.50	Margin scheme determination - valuation issues	MSV 2009/1 takes effect from 1 March 2010 and a fact sheet will be published shortly to provide guidance on what is required for a valuation to be an approved valuation.
13.18	Administration of penalties under the new tax system	This matter has been finalised. We propose to issue the draft practice statement in April 2010.
13.29	GST refund time limit notifications	The matter was discussed at the 16 September 2009 meeting and is reflected in the minutes.
13.30	GST refunds in business to business transactions	Draft Miscellaneous Taxation Ruling MT 2009/D1 issued on 16 December 2009.

Members requested the following issue remain on the issues list.

No.	Issue	Reason
1.59	Tribunal decision in GXCX v. FCT (2009) AATA 569	This matter has been finalised. Similar issues being dealt with under issue 13.18 - Administration of penalties under the new tax system. We propose to issue the draft practice statement in April 2010.

Members requested the following issue remain on the issues list due to the application of Division 93.

No.	Issue	Reason
13.31	13.31 GST refunds and lodgement demand notices	The matter was discussed along with issue 13.30 at the 16 September. The matter was then dealt with under issue 13.30 which has now been finalised.

Sections within Agenda items

• 1. Introductory matters
• 2. Removal of matters from current issues list
• 3. Board of Taxation Review of the legal framework for the administration of the GST
• 4. Penalties and interest charges
• 5. Debt issues and interaction between debt and GST deferral on imports
• 6. Large Business Differentiated Compliance Strategies
• 7. Clarification of GST Ruling 2002/5 in light of the decision in Debonne Holdings v FCT 2006 ATC 2467
• 8. Margin scheme determination - valuation issues
• 9. Presentation of 10 year anniversary certificates
• 10. Changes to 'Belvedere' example in Financial Supplies Ruling GSTR 2002/2
• 11. Taxpayer Alert 2010/1 - Financial Supplies arrangement
• 12. Residential premises - revision of GST Ruling 2000/20 on commercial residential premises
• 13. Meeting close