Details of this are yet to be finalised. TRS compliance activity is expected to be carried out as part of normal tax auditing. This includes allowing the TRO access to records of tax invoices issued. The Commonwealth Trade Practices Act 1974 and complementary State legislation prohibit misleading conduct or the making of false statements in relation to business transactions. Recent amendments to the Trade Practices Act 1974 specifically prohibits conduct that falsely misrepresents, misleads or deceives a person about the effect of the New Tax System changes in connection with the supply of goods and services.
Similar penalties apply.
As the TRS is part of the New Tax System, false representations and misleading conduct in relation to a person's entitlement to receive a refund could also attract these penalties. The scheme will be open to international visitors AND Australian residents, with the exception of air and sea operating crew. Crew will be eligible for the scheme when travelling as passengers. This is in line with current passenger concessions. Retailers can consolidate several purchases made from their store on different occasions within the 30-day period onto the one tax invoice.