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The Tax Institute’s GST sub-committee chaired by Gina Lazanas (Balazs Lazanas & Welch LLP) and Suzanne Kneen (Blake Dawson) met on Thirsday 24 February 2011 to discuss recently issued and upcoming rulings, treasury consultations and issues to submit to the upcoming NTLG GST-subcommittee meeting.

Specifically, members discussed:

  • GSTR 2010/D1 and other issues in relation to retirement villages.  
  • The recent Decision Impact Statement issued in relation to Sunchen.
  • The impact of the recently issued MT 2010/1 on the restriction of GST refunds.
  • The recently issued Decision Impact Statement on the Department of Transport case.
  • Recently made submissions to Treasury on the margin scheme rules, exempting taxes, fees and charges from GST and the move to self assessment for indirect taxes.
  • Recently made submission to the Board of Taxation on Islamic Finance. 
  • An upcoming submission to Treasury on the operation of section 357-60(3) of Schedule 1 to the Tax Administration Act 1953. This submission has been compiled on the incentive of sub-committee members. 
  • An upcoming submission to Treasury on the implementation of the Board of Taxation’s recommendations on their review of GST and cross border transactions. 
  • Issues to submit to the ATO at the upcoming NTLG SGT sub-committee meeting, including the status of the proposed replacement of PSLA 2002/12 following the issue of MT 2010/1; and a variety of administration issues, including significant delays in processing applications for rulings, voluntary disclosures and grouping.  
  • An upcoming draft ruling on GST and loyalty programs. 
  • The ATO’s draft fact sheet on claiming input tax credits on costs incurred in M&A transactions.

Members who would like further detail on any of the above are encouraged to contact us at Tax Policy.