On 13 July 2023, the ATO released for public consultation a draft replacement for Goods and Services Tax: Correcting GST Errors Determination 2013 which is due to sunset this year.The purpose of the 2013 determination (and once finalised, the draft 2023 determination) is to set out the circumstances and conditions under which a taxpayer can choose to correct an error made in working out their net amount for a previous tax period, by taking it into account in a current GST return (BAS).
Source: taxathand.com
Latest Posts in "Australia"
- Australia Extends GST Simplification for Restaurants, Cafes and Caterers
- Australia and New Zealand GST Guides: Rates, Registration and Filing Requirements
- ATO Draft GST Determination to Replace Restaurant, Cafe and Catering Rules
- ATO Draft GST Ruling on Recipient Created Tax Invoices
- ATO Guidance on Tax Treatment of Renewable Energy Compensation Payments
