Published on 07 Aug 09
by THE TAX INSTITUTE
The professional bodies welcome the opportunity to comment on draft WET determination WETD 2009/D1. It is not often that our comments on draft indirect tax rulings and determinations are completely unsupportive. This, however, is one such occasion.
The general anti-avoidance provision ("GAP") can be found in Division 165 of the A New Tax System (Goods and Services Tax) Act 1999 ("the GST Act"). Its operation is extended to the A New Tax System (Wine Equalisation Tax) Act 1999 ("the WET Act") by sections 21-1 and 23-10 of the WET Act.
TAXPAYERS AUSTRALIA INC
INSTITUTE OF CHARTERED ACCOUNTANTS IN AUSTRALIA
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TAXATION INSTITUTE OF AUSTRALIA
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NATIONAL INSTITUTE OF ACCOUNTANTS