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Legislative Instrument

Goods and Services Tax: Waiver of Tax Invoice Requirement Determination (No. 30) 2015

I, James O'Halloran, Deputy Commissioner of Taxation, make this determination under subsection 29-10(3) of the A New Tax System (Goods and Services Tax) Act 1999.

James O'Halloran
Deputy Commissioner of Taxation

Dated: 15 September 2015

Name of Determination

   1. This determination may be cited as the A New Tax System (Goods and Services Tax) Act 1999 Waiver of Tax Invoice Requirement Determination (No.30) 2015

Commencement

   2. This determination commences on the day after registration.

Repeal of previous instrument

   3. The following determination is repealed on the commencement of this determination:

         * A New Tax System (Goods and Services Tax) Act 1999 Waiver of Tax Invoice Requirement Determination (No.3) 2001 – Direct Entry Services (the previous instrument) - F2005B01872, registered on 26/07/2005 is repealed on the commencement of this determination.

Determination (Who is covered by this Determination)

   4. This determination applies to:

         * an entity that was previously determined in the previous instrument that it will not be required to hold a tax invoice for a creditable acquisition of Direct Entry Services in order to attribute an input tax credit on the acquisition to a tax period; or

         * an entity that was not determined in the previous instrument, provided it satisfies all the requirements of this instrument.

Circumstance where the requirement for a tax invoice does not apply

   5. The circumstance set out in the following paragraphs is the circumstance of a kind in which the requirement for a tax invoice under subsection 29-10(3) of the A New Tax System (Goods and Services Tax) Act 1999 does not apply.

   6. An entity will not be required to hold a tax invoice for a creditable acquisition of Direct Entry Services in order to attribute an input tax credit on the acquisition to a tax period, provided that at the time the entity gives its GST return/Business Activity Statement ("BAS") for the tax period to the Commissioner the following requirements are satisfied:

         (a)           the entity is in receipt of a statement from their Australian ADI (Authorised Deposit-Taking Institution) that includes the details outlined in clause 5; and

         (b)           the entity is not in receipt of a tax invoice in respect of that Direct Entry Service.

     7.      In accordance with clause 4(a), the Statement from the entity's Australian ADI must include the following details;

(a)         the entity's name;

   (b)           the entity's ABN or address;

         (c)           for each acquisition of Direct Entry Services for which the entity may claim an input tax credit the statement has:

   (i)             the date the entity purchased the acquisition;
             (ii)           the supplier's name (in this instance the standard three letter code identifier used within