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Tax invoice requirements clarified
16 June 2011
The ATO has released a draft ruling in relation to the requirements for a valid tax invoice following recent amendments to tax invoice rules.
The new rules allow taxpayers to claim input tax credits in certain circumstances even if the tax invoice does not have all the necessary information relating to the supply.
The new rules provide that input tax credits can be claimed where this extra information can be ascertained from other documentation the taxpayer holds in relation to the supply.
The ATO is seeking comments on the draft ruling by 8 July 2011.
Follow Bates Cosgrave News on Twitter @batescosgraveCA
16 June 2011
The ATO has released a draft ruling in relation to the requirements for a valid tax invoice following recent amendments to tax invoice rules.
The new rules allow taxpayers to claim input tax credits in certain circumstances even if the tax invoice does not have all the necessary information relating to the supply.
The new rules provide that input tax credits can be claimed where this extra information can be ascertained from other documentation the taxpayer holds in relation to the supply.
The ATO is seeking comments on the draft ruling by 8 July 2011.
Follow Bates Cosgrave News on Twitter @batescosgraveCA
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The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
The material and contents provided on this website and in our print, email or downloadable publications are informative in nature only. It is not intended to be advice and you should not act specifically on the basis of this information alone. If expert assistance is required, professional advice should be obtained. Liability limited by a scheme approved under Professional Standard Legislation.
