Goods and Services Tax Ruling

GSTR 2004/6A - Addendum

Goods and services tax: tax law partnerships and co-owners of property

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Addendum

This Addendum amends Goods and Services Tax Ruling GSTR 2004/6 to reflect:

•

the amendments to the A New Tax System (Goods and Services Tax) Act 1999 resulting from the introduction of the Tax Laws Amendment (Small Business) Act 2007. This Act standardises the eligibility criteria for small business tax concessions from 1 July 2007; and

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the amendments to the A New Tax System (Goods and Services Tax) Regulations 1999 resulting from the commencement of the A New Tax System (Goods and Services Tax) Amendment Regulations 2007 (No. 1) and the A New Tax System (Goods and Services Tax) Amendment Regulations 2007 (No. 2). These Legislative Instruments change the threshold amounts for the requirements to issue a tax invoice and to register for the GST (respectively) from 1 July 2007.

GSTR 2004/6 is amended as follows:

1. Paragraph 109

(a)

Omit '$50,000'; substitute '$75,000'.

(b)

Omit the words 'or a higher amount' from the second sentence.

2. Footnote 63

(a)

Omit '$100,000'; substitute '$150,000'.

(b)

Omit the words 'or a higher amount'.

(c)

Omit 'annual turnover' (wherever occurring); substitute 'GST turnover'.

3. Paragraph 171

Omit '$50'; substitute '$75'.

4. Footnote 92

Omit '$50'; substitute '$75'.

5. Paragraph 230

Before 'turnover falls below the registration turnover threshold' insert 'GST'.

6. Footnote 121

Omit '$50'; substitute '$75'.

7. Subject references

Insert 'GST turnover' and 'projected GST turnover'.

This Addendum explains our view of the law as it applied from 1 July 2007. You can rely upon this Addendum on and from its date of issue for the purpose of section 105-60 of Schedule 1 to the Taxation Administration Act 1953. If this Addendum conflicts with a previous private ruling that you have obtained or a previous public ruling, this Addendum prevails. However, if you have relied on a previous ruling (including the public Ruling that the Addendum amends), you are protected in respect of what you have done up to the date of issue of the Addendum or, if there is a change to the legislation, you are protected in respect of what you have done up to the date the legislative change takes effect. This means that if you have relied on the earlier ruling and have underpaid an amount of GST, you are not liable for the shortfall prior to either the issue date of this Addendum or the date the legislative change takes effect, as appropriate. Similarly, if you have relied on the earlier ruling you are not liable to repay an amount overpaid by the Commissioner as a refund.

Commissioner of Taxation
15 August 2007

References

ATO references:
NO 2006/20258