Advice under development – GST issues
We are developing advice and guidance on the following GST issues.
[3869] Time limits on entitlements to tax credits
Title
Miscellaneous Taxation Ruling
Time limits for claiming an input tax or fuel tax credit
Registered
10 July 2017
Purpose
The Ruling will set out the Commissioner's views on when entitlements to an input tax credit and fuel tax credits do not cease.
Expected completion
To be advised
Comments
Draft MT 2018/D1 was withdrawn with effect from 4 December 2019. Following recent Federal Court decisions, this draft Ruling no longer reflects the Commissioner's view on the time limits for claiming an input tax credit or fuel tax credit. MT 2018/D1 will be replaced by a new public ruling in early 2020.
Contact
taxcredits@ato.gov.au
See also:
[3955] GST – assignment of payment streams
Title
Final Addendum to Goods and Services Tax Ruling GSTR 2004/4 Goods and services tax: assignment of payment streams including under a typical securitisation arrangement
Registered
November 2018
Purpose
The final Addendum will provide additional practical examples of whether common acquisitions made by a home loan originator relate to the supply of servicer services to a special purpose vehicle in the context of a typical securitisation arrangement.
Expected completion
May 2020
Comments
Draft GSTR 2004/4DC1 published on 5 April 2019. Comments period closed on 3 May 2019.
Contact
Virginia Gogan, Tax Counsel Network
Phone: (03) 8632 4643
Virginia.Gogan@ato.gov.au
Peter Joseph, Small Business
Phone: (07) 3213 8940
Peter.Joseph@ato.gov.au
[3956] GST – transaction accounts
Title
Final Goods and Services Tax Ruling
Goods and services tax: determining the creditable purpose of acquisitions in relation to transaction accounts
Registered
November 2018
Purpose
The final Ruling will set out the Commissioner’s views on how to apply paragraph 11-15(2)(a) of the A New Tax System (Goods and Services Tax) Act 1999 to acquisitions in relation to transaction accounts. This will explain how the Commissioner’s existing views in Goods and Services Tax Ruling GSTR 2008/1 Goods and services tax: when do you acquire anything or import goods solely or partly for a creditable purpose? apply in this specific context.
Expected completion
May 2020
Comments
Draft GSTR 2019/D1 published on 26 June 2019. Comments period closed on 9 August 2019.
Contact
Virginia Gogan, Tax Counsel Network
Phone: (03) 8632 4643
Virginia.Gogan@ato.gov.au
Peter Joseph, Small Business
Phone: (07) 3213 8940
Peter.Joseph@ato.gov.au
[3982] Development lease arrangements in the ACT
Title
Final Goods and Services Tax Determination
Development works in the Australian Capital Territory
Purpose
The final Determination will clarify our view of the GST outcomes of development lease arrangements in the Australian Capital Territory.
Expected completion
To be advised
Comments
Draft GSTD 2019/D1 published on 13 December 2019. Comments close on 14 February 2020.
Contact
James Francis, Small Business
Phone: (07) 3213 5676
James.Francis@ato.gov.au
Ruth Hegney, Small Business
Phone: (08) 9268 6158
Ruth.Hegney@ato.gov.au
[3993] GST - apportionment of acquisitions in relation to transaction accounts
Title
Draft Schedule 2 to PCG 2019/8 ATO compliance approach to GST apportionment of acquisitions that relate to certain financial supplies - transaction accounts
Purpose
The draft Schedule will add to the practical guidance in PCG 2019/8 by setting out the ATO’s proposed framework for how assessing the risk associated with apportionment methods used to determine the extent of creditable purpose of acquisitions to provide transaction accounts. This will complement our other public advice and guidance products by reflecting our expectations for how the Commissioner’s views are to be applied in practice in designing an apportionment method.
Expected completion
March 2020
Contact
Megan Croaker, Public Groups and International
Phone: (02) 9374 2794
Megan.Croaker@ato.gov.au
Virginia Gogan, Tax Counsel Network
Phone: (03) 8632 4643
Virginia.Gogan@ato.gov.au
We are developing advice and guidance on the following GST issues.