On 11 March 2010, the Senate passed Tax Laws Amendment (2009 GST Administration Measures) Bill 2009 without amendment.
The Bill makes the following amendments:
- to require that input tax credits and fuel tax credits are claimed within a 4 year period;
- to enable residents of Australian external territories to claim refunds of GST and wine equalisation tax under the tourist refund scheme;
- to enable certain intermediaries to act as a principal for GST accounting purposes;
- to provide clarification of the calculation of the gambling operator's margin when the supplies made by the operator are GST-free, and the treatment of supplies and acquisitions between associates without consideration; and
- to provide for the treatment of overpaid refunds.
The Bill now awaits Royal Assent.