Part 7. Requirements for relief from holding - Goods and Services Tax: Waiver of Tax Invoice Requirement (Corporate Card Statements) No. 2 Determination 2020 - 7. Requirements for relief from holding a tax invoice

7. Requirements for relief from holding 7. Requirements for relief from holding a tax invoice

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7. Requirements for relief from holding a tax invoice

(1) At the time the cardholder gives its GST return/business activity statement for the tax period to the Commissioner:

(a) the cardholder must hold a corporate card statement that records a transaction which includes the creditable acquisition and meets the corporate card statement information requirements set out in section 9;

(b) the cardholder must meet all the requirements of section 13; and

(c) the creditable acquisition on the corporate card statement must not have an ‘estimated GST amount’ that was calculated under subsection 11(b).

(2) For the corporate card statement referred to in subsection 8(1), the corporate card provider:

(a) must meet the accuracy requirements set out in section 12;

(b) must have in place an accurate method of obtaining or calculating the transaction information specified in subsection 9(d); and