Document ID: chunk:federal_register_of_legislation:F2020L01518:body:0:p4
Version: federal_register_of_legislation:F2020L01518
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corporate card statement.

11.              Accuracy requirements for corporate card statements
    Where the corporate card provider has reason to consider any information set out in subsection 9(d) or an estimated GST amount is not accurate, the corporate card provider/acquirer must not include that information on the corporate card statement.

12.              Cardholder requirements
    The cardholder must have in place:

             (a)               an effectively regulated corporate policy (that includes the retention of documentary evidence) for determining the extent of creditable purpose for acquisitions made on the corporate card that are wholly or partly of a private or domestic nature; and

             (b)               an effectively regulated corporate policy that ensures the tax invoice and the corporate card statement are not incorrectly used to claim input tax credits more than once for a creditable acquisition.

13.              Reimbursement of employees etc
    If the cardholder has a creditable acquisition because of section 111-5 of the GST Act:

             (a)               they are taken to meet paragraph 8(1)(a) if they hold a corporate card statement that includes the details at section 9 for the expense for which reimbursement is paid; and

             (b)               any reference to a creditable acquisition in section 9 is taken to be a reference to the expense for which reimbursement is paid.

14.              Repeals
    This determination repeals and replaces Goods and Services Tax: Waiver of Tax Invoice Requirement (Corporate Card Statements) Legislative Instrument 2020, F2020L00110, registered on 10 February 2020.