Commonwealth legislation

A New Tax System (Goods and Services Tax) Act 1999 Waiver of Tax Invoice Requirement Determination (No. 3) 2001 - Direct Entry Services

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

This determination lets businesses claim GST input tax credits for banking “Direct Entry Services” (ADI‑processed bulk electronic payment files like direct debits/credits) using their bank statement in place of a formal tax invoice, provided the statement shows the required details. If the statement contains an error about the supply, a proper tax invoice is required. Claims are made in the tax period when the qualifying bank statement is received.

JSON API Tax / GST / superannuation

Deep dive

Want the full deep dive?

Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.

Current sections

Direct links to the current provisions in A New Tax System (Goods and Services Tax) Act 1999 Waiver of Tax Invoice Requirement Determination (No. 3) 2001 - Direct Entry Services.

Situation where a tax invoice is still r

Situation where a tax invoice is still required

The entity will still need to obtain a tax invoice before attributing an input tax credit to a tax period for a supply of Direct Entry Services where there is an error on the statement in relation to the supply.

Attribution of Input Tax Credits

Where an entity complies with the requirements listed in clause 4, an input tax credit will be attributable to the tax period in which they hold the statement mentioned in clause 4(a).

Definitions

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

Australian ADI has the meaning given by section 9 of the Corporations Law;

Direct Entry Services means the processing of an entity's direct credit and direct debit files by an Australian ADI

Other expressions in this determination have the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999

Dated this 23rd day of July 2001

Signed by Anthony Long

Assistant Commissioner

GST (Financial Supplies)

Delegate of the Commissioner

Source text

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

Situation where a tax invoice is still r Situation where a tax invoice is still required