Goods and Services Tax Ruling
GSTR 2000/11A - Addendum
Goods and services tax: grants of financial assistance
Please note that the PDF version is the authorised version of this ruling.View the consolidated version for this notice.
This Addendum amends Goods and Services Tax Ruling GSTR 2000/11 to reflect the amendments to the A New Tax System (Goods and Services Tax) Act 1999 resulting from the introduction of the Tax Laws Amendment (Small Business) Act 2007. This Act standardises the eligibility criteria for small business tax concessions from 1 July 2007.
GSTR 2000/11 is amended as follows:
Omit the first sentence; substitute:
A grantee or grantor may choose to account for GST on a cash basis if it is a small business entity (other than because of subsection 328-110(4) of the ITAA 1997)[F80A] for the income year it makes the choice; or it does not carry on a business and its GST turnover does not exceed the cash accounting turnover threshold;[F80B] or it properly accounts for its income tax on a receipts basis.
cash accounting turnover threshold
current GST turnover
projected GST turnover
small business entity
3. Related Rulings/Determinations
ANTS(GST)A 1999 29-40(3)
ITAA 1997 328-110
ITAA 1997 328-110(4)
Omit the second sentence; substitute:
Goods and Services Tax Ruling GSTR 2000/13 Goods and services tax: accounting on a cash basis explains when you can account for GST on a cash basis.
This Addendum explains our view of the law as it applied from 1 July 2007. You can rely upon this Addendum on and from its date of issue for the purpose of section 105-60 of Schedule 1 to the Taxation Administration Act 1953. If this Addendum conflicts with a previous private ruling that you have obtained or a previous public ruling, this Addendum prevails. However, if you have relied on a previous ruling (including the public Ruling that the Addendum amends), you are protected in respect of what you have done up to the date of issue of the Addendum or, if there is a change to the legislation, you are protected in respect of what you have done up to the date the legislative change takes effect. This means that if you have relied on the earlier ruling and have underpaid an amount of GST, you are not liable for the shortfall prior to either the issue date of this Addendum or the date the legislative change takes effect, as appropriate. Similarly, if you have relied on the earlier ruling you are not liable to repay an amount overpaid by the Commissioner as a refund.
Commissioner of Taxation
15 August 2007