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  • 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
    Draft Miscellaneous Taxation Ruling
    Time limits for claiming an input tax or fuel tax credit

    Purpose
    The draft 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    Draft MT 2018/D1 was withdrawn with effect from 4 December 2019.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. Further guidance on this and a related issue are being considered.

    Contact
    Patrick Boyd, Office of the Chief Tax Counsel
    Phone: (02) 6216 6538
    Patrick.Boyd@ato.gov.au

    For more information, see Decision impact statement on Coles Supermarkets Australia Pty Ltd v Commissioner of Taxation [2019] FCA 1582.

    [4015] GST – supply of burial rights by a government agency

    Title
    Final Goods and Services Tax Determination
    Is the supply of a burial right in respect of a public cemetery subject to GST?

    Purpose
    This final Determination will set out the Commissioner's view on the GST consequences where an Australian government agency supplies a right of burial in respect of a public cemetery.

    Expected completion
    To be advised

    Comments
    Draft GSTD 2021/D2 published on 26 May 2021. We are currently reviewing the large number of submissions received.

    Contact
    Melissa Harrison, Small Business
    Phone: (08) 8218 9296
    Melissa.Harrison@ato.gov.au

    [4047] GST treatment of financial supplies

    Title
    Addendum to Goods and Services Tax Ruling
    GSTR 2002/2 Goods and services tax: GST treatment of financial supplies and related supplies and acquisitions

    Purpose
    This Addendum updates the Ruling to reflect changes in the GST law (for instance, changes to the GST legislation applicable to cross-border supplies and in relation to digital currency) and contains some proposed changes to modernise parts of the Ruling.

    Expected completion
    January 2023

    Comments
    Draft GSTR 2002/2DC1 published on 10 August 2022. Comments period closed on 23 September 2022.

    Contact
    Renae Carter, Small Business
    Phone: (02) 9374 2942
    Renae.Carter@ato.gov.au

    [4048] GST and retirement villages

    Title
    Draft Practical Compliance Guideline
    GST and retirement villages 

    Purpose
    This draft Guideline will set out the Commissioner’s proposed compliance approach to assist retirement villages that make minimal taxable supplies to determine the extent of creditable purpose for acquisitions made in constructing and operating a retirement village. The proposed compliance approach will assist to reduce complexity and the costs of compliance.

    Expected completion
    To be advised

    Contact
    Melissa Harrison, Small Business
    Phone: (08) 8218 9296
    Melissa.Harrison@ato.gov.au

    [4051] GST – valuations and the margin scheme

    Title
    Final Decision impact statement on Decleah Investments Pty Ltd and anor as Trustee for the PRS Unit Trust v Commissioner of Taxation [2021] AATA 4821

    Purpose
    The final Decision impact statement will provide the ATO’s response to the Administrative Appeals Tribunal decision concerning the calculation of goods and services tax payable under the margin scheme. The Tribunal considered whether a valuation on an ‘as-is basis’ using hindsight information is an approved valuation under the margin scheme provisions in Division 75 of the A New Tax System (Goods and Services Tax) Act 1999.

    Expected completion
    To be advised

    Comments
    Draft Decision impact statement on Decleah Investments Pty Ltd and anor as Trustee for the PRS Unit Trust v Commissioner of Taxation [2021] AATA 4821 published on 10 November 2022. Comments closed on 9 December 2022.

    Contact
    Gordon Brysland, Office of the Chief Tax Counsel
    Phone: (02) 6216 4965
    Gordon.Brysland@ato.gov.au

    Last modified: 20 Dec 2022QC 50319