TAX LAWS AMENDMENT (2010 GST ADMINISTRATION MEASURES NO. 2) ACT 2010 (NO. 74, 2010) - SCHEDULE 3 Tax invoices

TAX LAWS AMENDMENT (2010 GST ADMINISTRATION MEASURES NO. 2) ACT 2010 (NO. 74, 2010) - SCHEDULE 3

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

1  Subsection 29‑70(1)

Repeal the subsection, substitute:

             (1)  A tax invoice is a document that complies with the following requirements:

                     (a)  it is issued by the supplier of the supply or supplies to which the document relates, unless it is a * recipient created tax invoice (in which case it is issued by the * recipient);

                     (b)  it is in the * approved form;

                     (c)  it contains enough information to enable the following to be clearly ascertained:

                              (i)  the supplier's identity and the supplier's * ABN;

                             (ii)  if the total * price of the supply or supplies is at least $1,000 or such higher amount as the regulations specify, or if the document was issued by the recipient--the recipient's identity or the recipient's ABN;

                            (iii)  what is supplied, including the quantity (if applicable) and the price of what is supplied;

                            (iv)  the extent to which each supply to which the document relates is a * taxable supply;

                             (v)  the date the document is issued;

                            (vi)  the amount of GST (if any) payable in relation to each supply to which the document relates;

                           (vii)  if the document was issued by the recipient and GST is payable in relation to any supply--that the GST is payable by the supplier;

                           (viii)  such other matters as the regulations specify;

                     (d)  it can be clearly ascertained from the document that the document was intended to be a tax invoice or, if it was issued by the recipient, a recipient created tax invoice.

Note:          If the recipient is a member of a GST group, section 48‑57 may relax the requirements relating to the recipient's identity or the recipient's ABN.

          (1A)  A document issued by an entity to another entity may be treated by the other entity as a * tax invoice for the purposes of this Act if:

                     (a)  it would comply with the requirements for a tax invoice but for the fact that it does not contain certain information; and

                     (b)  all of that information can be clearly ascertained from other documents given by the entity to the other entity.

Note:          The requirements for a tax invoices are primarily contained in subsection (1), but can be affected by sections 48‑57 and 54‑50.

          (1B)  However, the Commissioner may treat as a * tax invoice a particular document that would not, apart from this subsection, be a tax invoice.

Note:          A request to the Commissioner, to which the Commissioner agrees, to treat a document as a tax invoice is taken to be a notification of your entitlement to the relevant input tax credit: see subsection 105‑55(2A) in Schedule 1 to the Taxation Administration Act 1953 .

2  Section 29‑99 (after table item 3)

Insert:

3  After section 48‑55

Insert:

48‑57   Tax invoices that are required to identify recipients

             (1)  A document issued for a supply is taken to be a tax invoice if:

                     (a)  it would not, but for this section, be a tax invoice because it does not contain enough information to enable the identity, or the * ABN, of the * recipient of the supply to be clearly ascertained; and

                     (b)  there is no other reason why it would not be a tax invoice; and

                     (c)  the * representative member of a * GST group is entitled under section 48‑45 to an input tax credit for the * creditable acquisition relating to the supply; and

                     (d)  the document contains enough information to enable the identity of at least one of the following to be clearly ascertained:

                              (i)  the GST group;

                             (ii)  the representative member;

                            (iii)  another entity that is or was a * member of the GST group, if the representative member would still have been entitled under section 48‑45 to that input tax credit if that other entity had been the recipient of the supply.

Note:       Subparagraph (d)(iii) ensures that a member of the GST group identified in the document was a member of the group at the relevant time for the supply in question.

             (2)  However, any obligation that the supplier of a * taxable supply has under subsection 29‑70(2) is an obligation to give to the * recipient of the supply a document that would be a * tax invoice for the supply even if subsection (1) of this section had not been enacted.

Note:          This subsection ensures that a recipient's entitlement to a tax invoice, including (if subparagraph 29‑70(1)(c)(ii) requires it) an entitlement to a tax invoice that enables the recipient's identity or the recipient's ABN to be clearly ascertained, is unaffected by this section.

             (3)  This section has effect despite section 29‑70 (which is about tax invoices).

4  Section 195‑1 (definition of tax invoice )

Repeal the definition, substitute:

"tax invoice" has the meaning given by subsections 29-70(1) and 48-57(1), and includes a document that the Commissioner treats as a tax invoice under subsection 29-70(1B). However, it does not include a document that does not comply with the requirements of section 54-50 (if applicable).

5  Application of amendments

The amendments made by this Schedule apply in relation to net amounts for tax periods starting on or after 1 July 2010.