Commonwealth legislation

A New Tax System (Goods and Services Tax) Waiver of Tax Invoice Requirement Determination (No. 9) 2004 - members of Custom Service Leasing Limited

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

2/10 complexity

Custom Service Leasing Limited lets corporate Fleet Card customers use their monthly Custom Fleet Financial Statement as a substitute for tax invoices to claim GST input tax credits. This shortcut applies unless the statement indicates a mixed supply (GST not simply 1/11th) or contains an error. It streamlines GST compliance for companies managing fuel and vehicle-service purchases.

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Current sections

Direct links to the current provisions in A New Tax System (Goods and Services Tax) Waiver of Tax Invoice Requirement Determination (No. 9) 2004 - members of Custom Service Leasing Limited.

Situations where a tax invoice is still

Situations where a tax invoice is still required

The member will still need to obtain a tax invoice before attributing input tax credits to a tax period for a supply on the Custom Fleet Financial Statement where:

(a) the Custom Fleet Financial Statement indicates that the supply may be a mixed supply or a taxable supply where GST is not 1/11th of the price; or

(b) where there is an error on the Custom Fleet Financial Statement in relation to the supply.

Definitions

The following expressions are defined for the purposes of this determination:

the Act means the A New Tax System (Goods and Services Tax) Act 1999.

The person(s) who uses the Fleet Card includes a partner, sole trader, director or employee of an entity.

Custom Fleet Financial Statement is a statement of liability that is issued by Custom Service Leasing Limited to one of its clients.

Fleet Card is a corporate card that is issued to and in the name of an entity and is used to purchase goods and services for commercial purposes.

Member is the registered entity that is a corporate holder of the Fleet Card.

Mixed supply is a supply of one or more taxable supplies and any one of the following supplies:

a supply that is GST-free or input taxed;
a supply that was made before 1 July 2000.

Other expressions in this determination have the same meaning as in the Act.

Dated this 9th day of July 2004.

Signed by Anthony Long
ASSISTANT DEPUTY COMMISSIONER OF TAXATION
Goods and Services Tax (Financial Supplies & Insurance)

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

Situations where a tax invoice is still Situations where a tax invoice is still required