5 Major Developments in Australia

5 Major Developments

• The lowdown on einvoicing in Australia

• EU’s Carbon Border Adjustment – impact on Australian businesses

• GST and mortgagees in possession
• Advice under development – [4051] GST – valuations and the margin scheme [NEW]
• ATO seeks feedback on draft legislation for recipient created tax invoice

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Fraud/Tax Evasion

• ‘Large-scale’ GST fraud sees ATO allegedly scammed out of more than $1.8 million

E-Invoicing

• The lowdown on einvoicing in Australia

• Updates to the eInvoicing Ready process

• Enabling secure, seamless e-invoicing

Environmental Tax

• EU’s Carbon Border Adjustment – impact on Australian businesses

Customs

• Legislation enacted ahead of entry into force of trade agreements with India and UK

Real Estate/Immovable Property

• GST and mortgagees in possession

• Advice under development – [4044] GST and residential colleges [UPDATED]

Invoice

• ATO update: GST determinations for waiving tax invoice holding requirements released for consultation

• ATO Seeks Comments on Recipient Created Tax Invoice System for GST Purposes

• ATO seeks feedback on draft legislation for recipient created tax invoice

Margin Scheme

• Advice under development – [4051] GST – valuations and the margin scheme [NEW]

• GST: More onerous and prescriptive requirements for margin scheme valuations

• Why property developers should consider the draft GST Determination for Margin Scheme Valuations

General

• Findings report – Top 1,000 income tax and GST assurance programs

• Findings report top 100 income tax and GST programs