Goods and Services Tax Ruling

GSTR 2003/14A3 - Addendum

Goods and services tax: the GST implications of transactions between members of a barter scheme conducted by a trade exchange

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Addendum

This Addendum amends Goods and Services Tax Ruling GSTR 2003/14 to reflect amendments to the A New Tax System (Goods and Services Tax) Act 1999 (GST Act). In particular, the Addendum updates GSTR 2003/14 for amendments made to Subdivision 29-C.

The amendments to Subdivision 29-C of the GST Act are in relation to tax invoices and apply to tax periods starting on or after 1 July 2010.

It also reflects the amendments within Indirect Tax Laws Amendment (Assessment) Act 2012 which came into effect on 1 July 2012 and introduced a system of self assessment under indirect tax laws.

GSTR 2003/14 is amended as follows:

1. Paragraph 10

(a)

Omit Note 1 and Note 2.

(b)

Insert:

11. Changes made to this Ruling by Addenda that issued on 11 July 2007, 31 October 2012 and 29 May 2013 have been incorporated into this version of the Ruling.^[1A]

2. Paragraph 55

Omit 'Paragraph 29-70(1)(e)'; substitute 'Paragraph 29-70(1)(b)'.

3. Footnote 13

Omit 'section 29-70 see GSTR 2011/D1' substitute 'subsection 29-70(1), see GSTR 2013/1'.

4. Paragraph 56

Omit 'For the tax invoice to be in the approved form, it must comply with the tax invoice requirements stated in paragraphs 29-70(1)(a) to (d)' substitute 'A tax invoice must comply with the tax invoice requirements'.

5. Footnote 18 and 19

Omit footnotes 18 and 19; substitute:

¹⁸ Subject to the conditions set out in the fact sheet 'Correcting GST errors'.

¹⁹ Subject to the conditions set out in the fact sheet 'Correcting GST errors'.

6. Footnote 21A

In paragraph 84 in the third sentence after 'net amount' insert footnote 21A.

^21A For tax periods that start on or after 1 July 2012 an assessment is made when a BAS is lodged. For these tax periods 'net amount' is to be read as 'assessed net amount'.

7. Paragraph 85

In the first sentence after 'entitlement for'; insert 'at least'.

8. Footnote 22

Omit 'Subsection 70(1) of'; substitute 'Section 382-5 of Schedule 1 to'.

9. Related Rulings/Determinations

Omit:

GSTR 2011/D1

Insert:

GSTR 2013/1

10. Legislative References

Omit:

- ANTS(GST)A99 29-70

- ANTS(GST)A99 29-70(1)(a)

- ANTS(GST)A99 29-70(1)(c)

- ANTS(GST)A99 29-70(1)(d)

- ANTS(GST)A99 29-70(1)(e)

- TAA 1953 70(1)

Insert

- TAA 1953 Sch 1 382-5

11. Other references

Omit;

- GST Fact Sheet 'Correcting GST Mistakes' - Revised Fact Sheet (03/2002)

Substitute;

- GST Fact Sheet 'Correcting GST errors'

This Addendum explains the Commissioner's view of the law as follows:

•

from 1 July 2010 in relation to Subdivision 29-C of the GST Act; and

•

from 1 July 2012 in relation to changes under the Indirect Tax Laws Amendment (Assessment) Act 2012.

Commissioner of Taxation
29 May 2013

References

ATO references:
NO 1-282U7MP