Goods and Services Tax Ruling
GSTR 2000/1A2 - Addendum
Goods and services tax: adjustment notes
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Addendum
Goods and Services Tax Ruling GSTR 2000/1 sets out the minimum information requirements for adjustment notes under section 29-75 of the A New Tax System (Goods and Services Tax) Act 1999. GSTR 2000/1 also refers to circumstances in which you do not need to hold an adjustment note to make a decreasing adjustment.
Amendments of the A New Tax System (Goods and Services Tax Transition) Act 1999 by the Tax Laws Amendment (Long-term Non-reviewable Contracts) Act 2005 introduced an additional circumstance in which a decreasing adjustment can be made without holding an adjustment note. This Addendum amends GSTR 2000/1 to reflect this change.
This Addendum applies from 22 February 2005. You can rely on the amendments to GSTR 2000/1, as amended by this Addendum, for the purposes of section 37 of the Taxation Administration Act 1953 from the date of issue of the Addendum.
GSTR 2000/1 is amended as follows:
Omit paragraph 12 and substitute the following paragraphs:
12. There are, however, some circumstances in which you do not need an adjustment note if you have a decreasing adjustment. This is the case if:
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- the GST exclusive value of the taxable supply was $50 or less; [9] or
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- the GST on the taxable supply is payable by the recipient because of section 15C of the A New Tax System (Goods and Services Tax Transition) Act 1999[9A] (GST Transition Act); or
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- a determination by the Commissioner under subsection 29-20(3) applies to your circumstances.
12A. You also do not need an adjustment note to attribute an increasing adjustment. [10]
Omit paragraph 59 and substitute the following paragraph:
59. There are some circumstances in which you may claim a decreasing adjustment without holding an adjustment note (see paragraph 12 of this Ruling). One circumstance is if the Commissioner has made a determination under subsection 29-20(3) of circumstances in which an adjustment note is not required. The Commissioner may exercise this power in the circumstances described at paragraphs 60 to 63.
Under the heading Legislative references add:
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- ANTS(GSTT)A 1999 Pt 3 Div 2
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- ANTS(GSTT)A 1999 15C
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- ANTS(GSTT)A 1999 15H(4)
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- TAA 37
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- Tax Laws Amendment (Long-term Non-reviewable Contracts) Act 2005
Commissioner of Taxation
1 March 2006
Footnotes
Subsection 29-80(2).
Division 2 of Part 3 of the GST Transition Act applies to agreements spanning both 1 July 2000 and 1 July 2005. In the circumstances described in section 15C of that Act, the GST on a taxable supply made under such an agreement is payable by the recipient (to the extent the supply is made on or after a certain date occurring on or after 1 July 2005). Subsection 15H(4) of that Act provides that subsection 29-20(3) of the GST Act does not apply, so that the recipient may make a decreasing adjustment without holding an adjustment note.
Subsection 29-20(3).
References
ATO references:
NO 2005/18404
Related Rulings/Determinations:
GSTR 2000/1A