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Legislative Instrument

Goods and Services Tax: Waiver of Adjustment Note Requirement (Corporate Card Statements) Determination 2020

I, Louise Clarke, Deputy Commissioner of Taxation, Policy, Analysis and Legislation, make this determination under subsection 29-20(3) of the A New Tax System (Goods and Services Tax) Act 1999.

Louise Clarke
Deputy Commissioner of Taxation
Dated: 2/12/2019

      1. Name of determination

This determination is the Goods and Services Tax: Waiver of Adjustment Note Requirement (Corporate Card Statements) Determination 2020.

    2.                  Commencement
    This determination commences on the day after it is registered on the Federal Register of Legislation.

    3.                  Repeal of previous determination

    This determination repeals and replaces Goods and Services Tax: Waiver of Adjustment Note Requirement (Corporate Card Statements) Determination 2018 (F2018L01352) registered on 27 September 2018.

    4.                  Determination

This determination applies to corporate card statement cardholders.

    5.                  Definitions

    (1) The following expressions are defined for the purposes of this determination:

         Acquirer is an entity that signs a merchant and is responsible for settlement to the merchant in respect of corporate card transactions acquired from that merchant.

         Cardholder is the entity participating in an arrangement under which the corporate card is issued to that entity, or other entities at its request.

         Corporate card is a card, or an account (where a physical card may not be issued), that is issued to and in the name of an entity or other entities at its request, and is intended to be used to purchase goods and services for commercial purposes.

         Corporate card provider is:

                  (a)               any of the following entities:

                      (i)                  American Express Australia Limited

                      (ii)                Cabcharge Australia Limited

                      (iii)              Diners Club Pty Limited

                      (iv)              Entities that issue Visa corporate cards

                      (v)                Lufthansa AirPlus Servicekarten GmbH (Airplus International)

                      (vi)              Qantas Airways Limited, or

                  (b)               an entity authorised by an entity listed above in paragraph (a) to provide their corporate card products.

         Corporate card statement is a statement for a corporate card that is issued by or on behalf of a corporate card provider. It includes electronic data files of transactions and statements that are issued periodically or on demand.

         GST Act means the A New Tax System (Goods and Services Tax) Act 1999.

         Mixed transaction supplier is a supplier that has indicated on a signed statement (referred to in section 10) that it provides taxable supplies as well as GST-free and/or input taxed supplies.

         Supplier includes an agent through whom the supplier makes a supply.

    (2) Other expressions in this determination have the same meaning as in the GST Act.

    6.                  Relief from requirement to hold an adjustment note

    For the purposes of attributing a decreasing adjustment (arising from an adjustment event in respect of an acquisition) to a tax period, a cardholder is not required