RCTI 2000/17 (As Amended)

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COMMONWEALTH OF AUSTRALIA

This legislative instrument has been automatically repealed, and sunset on 1 October 2015.

A New Tax System (Goods and Services Tax) Act 1999

made under subsection 29-70(3) of the A New Tax System (Goods and Services Tax) Act 1999 and subsection 4(1) of the Acts Interpretation Act 1901.

Citation (see Note 1)

1. This determination may be cited as the A New Tax System (Goods and Services Tax) Act 1999 Classes of Recipient Created Tax Invoice Determination (No. 17) 2000.

Commencement (see Note 1)

2.(a) This determination commences on 22nd August 2000.

(b) This determination does not revoke or vary any previous determination made by the Commissioner or a delegate of the Commissioner.

Application of determination

3. This determination applies to an entity not determined previously as being able to issue a tax invoice belonging to a class of tax invoices that may be issued by a recipient.

Classes of Tax Invoices that may be issued by the recipient of a taxable supply

4. A tax invoice that belongs to a class of tax invoices for a taxable supply of precious metal may be issued by a recycler that is the recipient of that taxable supply where the recycler:

(i)

establishes the value of those goods after the supply is made using a qualitative or quantitative process; and

(ii)

satisfies the requirements set out in Clause 5.

Requirements that must be satisfied by a recipient of a taxable supply

5. A recipient must satisfy the following requirements:

(a)

the recipient must be registered for GST when the invoice is issued;

(b)

the recipient must set out in the tax invoice the ABN of the supplier;

(c)

the recipient must issue the original or a copy of the tax invoice to the supplier within 28 days of making, or determining, the value of a taxable supply and must 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 the adjustment and must retain the original or the copy;

(e)

the recipient must reasonably comply with its obligations under the taxation laws;

(f)

the recipient must have either:

•

a written agreement with the supplier specifying the supplies to which it relates, that is current and effective when the RCTI is issued, agreeing that:

(i)

the recipient can issue tax invoices 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; and

(iv)

the recipient acknowledges that it is registered when it enters into the agreement and that it will notify the supplier if it ceases to be registered for GST; or

•

an agreement with the supplier embedded in an RCTI it issues that contains 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 an RCTI agreement. The supplier agrees to notify the recipient if the supplier does not wish to accept the proposed agreement within 21 days of receiving this document.

(g)

the recipient must not issue a document that would otherwise be a recipient created tax invoice, on or after the date when the recipient or the supplier has failed to comply with any of the requirements of this determination;

(h)

if the recipient has a current GST turnover of less than $1,000,000, it must notify the Commissioner in writing of the recipient's intention to use recipient created tax invoices. This notification must be made before 14 days have elapsed after the first occasion that a recipient created tax invoice is issued by that recipient.

Definitions

6. The following expressions are defined for the purposes of this determination:

precious metal means:

•

goods as defined in the definition of precious metal in the A New Tax System (Goods and Services Tax) Act 1999; and

•

goods to the extent that they consist of gold, silver, platinum, or any other substance which, if it were of the required fineness, would be precious metal.

recycler means an entity that principally acquires the precious metal for reworking into useable form.

7. Other expressions in this determination have the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999.

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18 May 2009

Prepared by the Goods and Services Tax Centre of Expertise, Australian Taxation Office

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Registration Number: F2007C00489

Registration Date: 19 July 2007

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