On 18 January 2012 the Commissioner issued Addendum GSTR 2004/1A3 – reduced credit acquisitions.
The purpose of the Addendum is stated to be as follows:
| It amends Goods and Services Tax Ruling GSTR 2004/1 to clarify the role of a merchant in a payment system, for the purposes of items 6 and 8 of the table in subregulation 70-5.02(2) of the A New Tax System (Goods and Services Tax) Regulations 1999. The amendment reflects the views of the Full Federal Court in Commissioner of Taxation v. American Express International Inc ; and Commissioner of Taxation v. American Express Wholesale Currency Services Pty Limited [2010] FCAFC 122; 2010 ATC 20-212. |
|
|
Like this:
Like Loading...
Related
All about GST in Australia 