WTI 2013/7


A New Tax System (Goods and Services Tax) Act 1999

I, James O'Halloran, make this legislative instrument under subsection 29-10(3) of the A New Tax System (Goods and Services Tax) Act 1999.

1. Name of instrument

This legislative instrument is the A New Tax System (Goods and Services Tax) Waiver of Tax Invoice Requirement (Acquisitions from Property Managers) Legislative Instrument 2013.

2. Commencement and application of this instrument

(a) This legislative instrument commences on 1 July 2010.

(b) This legislative instrument applies to net amounts for tax periods commencing on or after 1 July 2010.

(c) This legislative instrument does not revoke, amend or vary any previous legislative instrument made by the Commissioner or a delegate.

3. Waiver of the requirement to hold a tax invoice

For an input tax credit to be attributable to a tax period, a recipient that makes a creditable acquisition of a thing by way of a supply that was made through the supplier's property manager,[1] is not required (under subsection 29-10(3) of the GST Act) to hold a tax invoice for the creditable acquisition if the requirements provided by this instrument are satisfied.

4. Waiver from holding a tax invoice requirements

At the time the recipient gives its GST return for the tax period to the Commissioner:

the recipient must hold a document for a creditable acquisition that was issued by the supplier's property manager; and
that document must meet the information requirements set out in clause 5.

5. Document information requirements

The document referred to in clause 4:

meets the requirements of paragraphs 29-70(1)(a) and 29-70(1)(c) of the GST Act other than subparagraph 29-70(1)(c)(i) of the GST Act; and
contains enough information to enable the identity and ABN of the supplier's property manager to be clearly ascertained from the document.

6. Definitions

(1) Property manager means an entity that has entered into an arrangement with another entity (the principal ) under which the entity, on the principal's behalf, manages real property and, in the performance of its services, may do any or all of the following in respect of the real property:

make or facilitate supplies to third parties (including by issuing invoices relating to, or receiving consideration for, such supplies); and
make or facilitate acquisitions from third parties (including by providing consideration for such acquisitions).

To avoid doubt, for the purposes of this legislative instrument:

the arrangement between the entity and the principal does not need to be recorded in writing; and
the entity can be a property manager whether or not the entity is the agent of the principal.

(2) Other expressions in this legislative instrument have the same meaning as in the GST Act.

Dated 19 March 2013

James O'Halloran
Deputy Commissioner of Taxation

Registration Number: F2013L00539

Registration Date: 22 March 2013

It does not matter that the property manager for the supplier may have transacted either by disclosing the property manager relationship but without naming the principal or by not disclosing either the property manager relationship or the principal.

Related Explanatory Statements:

WTI 2013/7 - Explanatory statement