Goods and Services Tax Bulletin
GSTB 2000/2WHow to claim input tax credits for car expenses
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Date of Issue: 13 September 2006
Goods and Services Tax Bulletin GSTB 2000/2 is withdrawn with effect from today. The Bulletin is replaced from today by GSTB 2006/1.
The main differences between the two Bulletins are explained below.
1. GSTB 2000/2 explained how to claim input tax credits for car expenses using certain income tax methods to determine the extent of creditable purpose.
2. GSTB 2006/1 similarly explains how to claim input tax credits for car expenses using certain income tax methods to determine the extent of creditable purpose. However, GSTB 2006/1:
- • incorporates information on the annual apportionment of creditable purpose election contained in Division 131 as inserted into the A New Tax System (Goods and Services Tax) Act 1999 by Tax Laws Amendment (Small Business Measures) Act 2004;
- • refers the reader to later Rulings that either issued after GSTB 2000/2 or replace Rulings referred to in GSTB 2000/2;
- • uses the term 'car limit' which replaces the terms 'depreciation limit' and 'car depreciation limit';
- • no longer includes information on the phasing-in rules as the rules are no longer relevant with the passage of time;
- • at Example 11 uses dates after the annual apportionment measure commenced and makes a minor correction to the kilometres travelled for June 2006 which does not change the outcome; and
- • contains up to date contact information and a 'Detailed contents list'.
3. With respect to the annual apportionment of creditable purpose election, GSTB 2006/1 provides an overview of the annual apportionment election; explains how the GST Bulletin is relevant to taxpayers who have made the annual apportionment election; provide examples for car and car expense acquisitions where the taxpayer has made an annual apportionment election; and refers the reader to the Fact Sheet GST and annual private apportionment for further information about the election.
Commissioner of Taxation
13 September 2006
|9 June 2000||Original bulletin|
|15 October 2003||Consolidated bulletin||Addendum|
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