Goods and Services Tax: Recipient Created Tax Invoice Determination (No.23) 2016 for Administrators of a Superannuation Scheme
Reference: RCTI 2016/23
Document type: Legislative Instrument
Enabling act: A New Tax System (Goods and Services Tax) Act 1999
Date of issue: 24 February 2016
Signatory: Timothy Dyce Deputy Commissioner of Taxation
Registration number: F2016L00181
Registration date: 29 February 2016
This legislative instrument replaces and repeals A New Tax System (Goods and Services Tax) Act 1999 Classes of Recipient Created Tax Invoice Determination (No 4) 2001. (F2005B02814) , registered on 9 December 2005.

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

2. This determination commences on the day after registration.: Repeal of previous determination 3. A New Tax System (Goods and Services Tax) Act 1999 Classes of Recipient Created Tax Invoice Determination (No.4) 2001 (the previous determination), F2005B02814, registered on 9 December 2005, is repealed on commencement of this determination. Determination (Who is covered by this Determination) 4. This determination applies to an administrator of a superannuation scheme who satisfies the requirements of this determination. 5. An administrator of a superannuation scheme who satisfied the requirements of the previous determination will satisfy the requirements of this determination. Classes of tax invoices that may be issued by the recipient of a taxable supply under this determination 6. An administrator of a superannuation scheme who is the recipient of a taxable supply of a defined commission and/or fee based service, may issue a tax invoice called a recipient created tax invoice (RCTI) for the taxable supply if the administrator: (a) establishes the value of the taxable supply; and (b) satisfies the requirements set out in Clause 7. (a) establishes the value of the taxable supply; and (b) satisfies the requirements set out in Clause 7. Requirements that must be satisfied by the recipient under this determination 7. A recipient must satisfy the following requirements when issuing a RCTI under this determination: (a) be registered for GST; (b) set out the ABN of the supplier on the RCTI; (c) issue the original or a copy of the RCTI to the supplier within 28 days of making, or determining, the value of a taxable supply and retain the original or the copy; (d) the recipient must issue the original or a copy of an adjustment note to the supplier within 28 days of any adjustment and must retain the original or the copy; (e) reasonably comply with its obligations under the taxation laws; and (f) have either a written agreement with the supplier that meets the requirements of Clause 8, or a written agreement embedded in the RCTI that meets the requirements of Clause 9. (a) be registered for GST; (b) set out the ABN of the supplier on the RCTI; (c) issue the original or a copy of the RCTI to the supplier within 28 days of making, or determining, the value of a taxable supply and retain the original or the copy; (d) the recipient must issue the original or a copy of an adjustment note to the supplier within 28 days of any adjustment and must retain the original or the copy; (e) reasonably comply with its obligations under the taxation laws; and (f) have either a written agreement with the supplier that meets the requirements of Clause 8, or a written agreement embedded in the RCTI that meets the requirements of Clause 9. Requirements of a written agreement with the supplier 8. The written agreement the recipient has with the supplier must: (a) specify the supplies to which it relates; (b) be current and effective when the RCTI is issued; and (c) have the following conditions: (i) the recipient can issue RCTIs in respect of the supplies; (ii) the supplier will not issue tax invoices in respect of the supplies; (iii) the supplier acknowledges that it is registered for GST when it enters into the agreement and that it will notify the recipient if it ceases to be registered for GST; and (iv) the recipient acknowledges that it is registered for GST when it enters into the agreement and that it will notify the supplier if it ceases to be registered for GST. (a) specify the supplies to which it relates; (b) be current and effective when the RCTI is issued; and (c) have the following conditions: (i) the recipient can issue RCTIs in respect of the supplies; (ii) the supplier will not issue tax invoices in respect of the supplies; (iii) the supplier acknowledges that it is registered for GST when it enters into the agreement and that it will notify the recipient if it ceases to be registered for GST; and (iv) the recipient acknowledges that it is registered for GST when it enters into the agreement and that it will notify the supplier if it ceases to be registered for GST. (i) the recipient can issue RCTIs in respect of the supplies; (ii) the supplier will not issue tax invoices in respect of the supplies; (iii) the supplier acknowledges that it is registered for GST when it enters into the agreement and that it will notify the recipient if it ceases to be registered for GST; and (iv) the recipient acknowledges that it is registered for GST when it enters into the agreement and that it will notify the supplier if it ceases to be registered for GST. Requirements of a written agreement embedded in the RCTI 9. The embedded agreement in the RCTI that the recipient has with the supplier must contain the following statement: The recipient and the supplier declare that this agreement applies to supplies to which this tax invoice relates. The recipient can issue tax invoices in respect of these supplies.The supplier will not issue tax invoices in respect of these supplies.The supplier acknowledges that it is registered for GST and that it will notify the recipient if it ceases to be registered. The recipient acknowledges that it is registered for GST and that it will notify the supplier if it ceases to be registered for GST. Acceptance of this RCTI constitutes acceptance of the terms of this written agreement. Both parties to this supply agree that they are parties to a RCTI agreement. The supplier must notify the recipient within 21 days of receiving this document if the supplier does not wish to accept the proposed agreement. Definitions 10. The following expressions are defined for the purposes of this determination: administrator means an entity who directs or manages the affairs of a superannuation scheme. defined commission and/or fee based service means a service supplied by an entity for which a commission or fee is payable and includes, but is not restricted to services such as: • preparation, reconciliation and submission of contribution data and exception reports; • preparation, processing and submission of member leaving service advice; or • preparation, processing and submission of new member application records. superannuation scheme means a regulated superannuation fund, an approved deposit fund, a pooled superannuation trust or a public sector superannuation scheme within the meaning of the Superannuation Industry (Supervision) Act 1993. • preparation, reconciliation and submission of contribution data and exception reports; • preparation, processing and submission of member leaving service advice; or • preparation, processing and submission of new member application records.