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GST Withholding Rules - Draft Law Companion Ruling

GST Withholding Rules - Draft Law Companion Ruling

By Commercial Law Section

Advocacy ATO Taxation 

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The Law Institute of Victoria has provided comments on a possible inconsistency between a draft ruling and transitional arrangements which are in place under the Treasury Laws Amendment (2018 Measures No. 1) Act.

The Act sets out provisions requiring a purchaser of particular types of property to make payment to the Australian Taxation Office for GST payable by the vendor. The result of this amendment is that the purchaser does not have to make payment to the vendor for this liability.

The LIV believes further guidance is required in the Draft Ruling to minimise any confusion beteween the position adopted by the Explanatory Memorandum and the Draft Ruling to provide further clarification on transitional measures and how claims may be administered under the Act. 

Read the submission here (PDF).

Contact

Commercial Law Section

E: commerciallawsection@liv.asn.au

P: (03) 9607 9311

 

 


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