Under subsection 29-70(3) of the A New Tax System (Goods and Services Tax) Act 1999, I make the following determination:

 

Citation

  1. This determination may be cited as the A New Tax System (Goods and Services Tax) Act 1999 Classes of Recipient Created Tax Invoice Determination (No. 17) 2000. 

 

2.                   (a) This determination commences on 22nd August 2000.

(b) This determination does not revoke or vary any previous determination made by the Commissioner or a delegate of the Commissioner.

 

Application of determination

3.                   This determination applies to an entity not determined previously as being able to issue a tax invoice belonging to a class of tax invoices that may be issued by a recipient.

 

4.                   A tax invoice that belongs to a class of tax invoices for a taxable supply of precious metal may be issued by a recycler that is the recipient of that taxable supply where the recycler:

(i)                 establishes the value of those goods after the supply is made using a qualitative or quantitative process; and

(ii) satisfies the requirements set out in Clause 5.

 

Requirements that must be satisfied by a recipient of a taxable supply

5. A recipient must satisfy the following requirements:

(a) the recipient must be registered for GST when the invoice is issued;

(b) the recipient must set out in the tax invoice the ABN of the supplier;

(c) the recipient must issue the original or a copy of the tax invoice to the supplier within 28 days of making, or determining, the value of a taxable supply and must retain the original or the copy;

(d) the recipient must issue the original or a copy of an adjustment note to the supplier within 28 days of the adjustment and must retain the original or the copy;

(e)                the recipient must reasonably comply with its obligations under the taxation laws;

This is page 2 of the A New Tax System(Goods and Services Tax) Act 1999 Classes of Recipient Created Tax Invoice Determination (No. 17) 2000.

 

(f)                the recipient must issue the tax invoice pursuant to a written agreement that the recipient has with the supplier which specifies the supplies to which it relates and contains the following terms:

(i)                 the recipient may issue tax invoices in respect of the specified supplies;

(ii)               the supplier will not issue tax invoices in respect of those supplies;

(iii)            the supplier acknowledges that it is registered when it enters the agreement and that it will notify the recipient if it ceases to be registered;

(iv)             the recipient acknowledges that it is registered when it enters into the agreement and that it will notify the supplier if it ceases to be registered;

(g)               the recipient must not issue a document that would otherwise be a recipient created tax invoice, on or after the date when the recipient or the supplier has failed to comply with any of the requirements of this determination;

(h)               if the recipient has a current annual turnover of less than $1,000,000, it must notify the Commissioner in writing of the recipient's intention to use recipient created tax invoices.  This notification must be made before 14 days have elapsed after the first occasion that a recipient created tax invoice is issued by that recipient.

 

Definitions

6. The following expressions are defined for the purposes of this determination:

precious metal means:

recycler means an entity that principally acquires the precious metal for reworking into useable form.

 

7. Other expressions in this determination have the same meaning as in the A New Tax System (Goods and Services Tax) Act 1999.

 

Signed this 22nd day of August 2000

 

 

Signed by Brian Fitzgerald

Assistant Commissioner

Goods and Services Tax Program

Delegate of the Commissioner