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GSTR 1999/D3 Special Credit for Sales Tax Paid on Stock

Published on 01 Jun 99 by THE TAX INSTITUTE

Joint comments provided by the Australian Society of CPAs, the Institute of Chartered Accountants in Australia, the Australian Taxpayers Association and the Taxation Institute of Australia GSTR 1999/D3 Special Credit for Sales Tax Paid on Stock Comments on the Ruling. The ruling provides acceptable methods for determining the amount of the salestax credit available to businesses holding tax paid stock at 1 July 2000. However,it is our view that the Method 2 formula proposed by the ATO, while producing an acceptable result, is unduly complicated and cumbersome

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TAXPAYERS AUSTRALIA INC


 
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