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New GST laws to make it easier for creditors


Recent amendments to the A New Tax System (Goods and Services Tax) Act 1999 (Cth) (GSTA), by the Tax Laws Amendment (2012 Measures No. 4) Act 2012, affect the GST obligations of a representative of an incapacitated entity, where the representative makes a supply in satisfaction of a debt that the incapacitated entity owes the representative.

The stated effect of the amendments is to ensure that Div 105 GSTA operates to the exclusion of Div 58 of that Act in circumstances where a representative of an incapacitated entity is a creditor of the incapacitated entity, and the representative makes a supply in satisfaction of a debt that the incapacitated entity owes to the representative. This would allow the representative to continue to report its GST obligations under the one registration. This article examines the background to and the effect of the amendments.

Author profile

Mark Gioskos FTI
Mark specialises in advising on complex tax litigation and tax audit matters. He has extensive experience in negotiating and settling tax-related disputes, with an emphasis on achieving efficient and commercial outcomes for his clients. Mark also regularly advises on structuring and compliance issues under Federal and State based revenue laws, as well as other regulatory and administrative law matters, and in general commercial transactions. Mark is a Fellow member of The Tax Institute, and has been a member of The Tax Institute's Professional Development Committee in Victoria since 2015. He has written a number of articles published in professional journals, is a regular presenter at seminars and discussion groups, and holds a Master of Laws from the University of Melbourne. - Current at 02 June 2020
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