Notice of Ruling, Notice of Addenda, Notice of Erratum, Notice of Withdrawals

Overview

The Commissioner of Taxation, Chris Jordan, has issued a Gazette Notice detailing several rulings and amendments under the Australian tax law system. The Tax Laws Amendment (2010 GST Administration Measures No. 1) Act 2010 and the Tax Laws Amendment (2010 GST Administration Measures No. 2) Act 2010, among others, have necessitated these updates. These amendments and rulings aim to clarify and adjust the application of Goods and Services Tax (GST) and Income Tax laws to better address issues arising from evolving tax practices and legal changes. These notices serve to inform taxpayers and tax practitioners of the updated tax obligations and interpretations, ensuring compliance with the current legislative framework. The rulings cover specific tax schemes and lay-by sale arrangements, emphasising the need for precise and timely application of tax laws.

Scope and Application

The Commissioner of Taxation, Chris Jordan, has issued several rulings and amendments concerning various tax matters, each with specific application parameters and scopes. PR 2013/21 addresses the Macquarie Almond Investment 2008 – Early Growers (to 15 June 2008) Project, applying exclusively to a specified class of entities that entered into the scheme between 12 March 2008 and 15 June 2008. GSTR 2000/12, amended by the Addendum, pertains to attributing GST payable and input tax credits for supplies and acquisitions under lay-by sale arrangements, reflecting changes in the law due to various legislative amendments and applying both before and after its issuance. Similarly, GSTR 2003/12, amended by its Addendum, deals with the timing of consideration for various payment instruments and other methods of payment, also applying both before and after its issuance. An Erratum to GSTR 2005/3 corrects a title error in a previous ruling, applying from 28 August 2013. Additionally, certain rulings, including GSTA TPP 047, PR 2009/28, and PR 2010/3, have been withdrawn with effect from 20 November 2013. These rulings and amendments provide detailed guidance on specific tax issues, ensuring taxpayers and practitioners have clarity on relevant tax laws and administrative practices.

Key Provisions

The Commissioner of Taxation, Chris Jordan, has issued several rulings and notices affecting taxation law in Australia. These include updates to existing rulings and the withdrawal of certain previous rulings. The provisions of these notices and rulings can be found in Gazette C2013G01714 and are available on the Australian Taxation Office's website or at local ATO branches. Firstly, Ruling PR 2013/21 pertains to the Macquarie Almond Investment 2008 – Early Growers (to 15 June 2008) Project. It provides the Commissioner's opinion on the tax treatment of specified entities that entered into the scheme outlined in PR 2008/25 between 12 March 2008 and 15 June 2008. This ruling sets out the tax implications for those entities involved in the specified investment project during the given timeframe (PR 2013/21 (1)). Secondly, the Commissioner has issued an Addendum to Goods and Services Tax Ruling GSTR 2000/12, amending it to reflect changes in the law resulting from various legislative amendments. The Addendum addresses changes made by the Tax Laws Amendment (2010 GST Administration Measures No. 1) Act 2010, the Tax Laws Amendment (2010 GST Administration Measures No. 2) Act 2010, the Indirect Tax Laws Amendment (Assessment) Act 2012, and other related legislative changes. The Addendum applies both before and after its date of issue, ensuring that taxpayers can rely on it for GST attribution and input tax credit purposes (GSTR 2000/12 (2)). Thirdly, the Commissioner has issued an Addendum to Goods and Services Tax Ruling GSTR 2003/12, updating it to reflect changes made to the A New Tax System (Goods and Services Tax) Act 1999 by the Tax Laws Amendment (2010 GST Administration Measures No. 1) Act 2010 and the Tax Laws Amendment (2009 GST Administration Measures) Act 2010. The Addendum also makes further minor amendments to GSTR 2003/12 and updates the references section. Like the previous Addendum, this ruling applies both before and after its date of issue (GSTR 2003/12 (3)). In addition to the above, the Commissioner has issued an Erratum to Goods and Services Tax Ruling GSTR 2005/3, correcting the title to GSTD 2013/2 in the addendum to GSTR 2005/3A4. This Erratum applies on and from 28 August 2013 (GSTR 2005/3 (4)). Lastly, the Commissioner has withdrawn two income tax rulings, GSTA TPP 047, PR 2009/28, and PR 2010/3, with effect from 20 November 2013. These withdrawals signify that the rulings are no longer in force and should not be relied upon for tax purposes (GSTA TPP 047, PR 2009/28, and PR 2010/3 (5)). Taxpayers should be aware of these rulings and withdraws when planning and structuring their tax affairs. Failure to comply with the provisions of these rulings and the applicable tax laws may result in penalties, interest, and potential legal action. The Commissioner of Taxation retains the authority to take action against non-compliance, including the imposition of fines and prosecution in appropriate cases (Taxation Administration Act 1953 (6)).