12 Apr 10 Compulsory third party insurance GST determination
A New Tax System (Goods and Services Tax)(Average Input Tax Credit Fraction) Determination 2010 was made on 24 March 2010 and registered on the Federal Register of Legislative Instruments on 9 April 2010.
The Determination specifies a new average input tax credit fraction for compulsory third party insurance providers in NSW to apply from 1 July 2010. The new fraction reflects a significant change in the relevant Australian Bureau of Statistics data over the relevant period, and as such is required by the relevant provisions.
For a copy of the determination, go here
For a copy of the Explanatory Statement, click on ES/Supp Material