GST update

Recoverability of GST credits

In Rio Tinto Services Ltd v Commissioner of Taxation [2015] FCA 94, the Federal Court has found that the taxpayer was not entitled to input tax credits on acquisitions related to the provision of remote area employee housing. The taxpayer has since lodged an appeal to the Full federal Court. See our TaxTalk Alert which summarises the key points arising from this decision.

GST Final Ruling

On 25 March 2015, the Australian Tax Office (ATO) issued GST Ruling GSTR 2015/1 which sets out the Commissioner of Taxation's views on the meaning of the terms ‘passed on’ and ‘reimburse’ for the purposes of Division 142 of the GST Act (which deals with refunds of ‘excess GST’). The ruling was previously released as GSTR 2014/D4. See our TaxTalk Alert which summarises the key points arising from this ruling.

Customs update

Anti-dumping regulation

Customs Amendment (Anti-Dumping Improvements) Regulation 2015 registered on 2 March 2015, amends the Customs Regulations 1926 to specify a new type of circumvention  activity in Australia’s anti-dumping system to address the practice of slightly modifying goods to avoid payment of anti-dumping and countervailing duties.

Customs – International Obligations

Customs has released an exposure draft of the Customs (International Obligations) Regulation 2015. The draft Regulations propose to remake the customs provisions of the Customs Regulations 1926 related to Australia’s international obligations, which sunset on 1 April 2015. The Regulations will complement the Customs Regulation 2015. For further information contact Gary Dutton on (07) 3257 8783.

Notice of substituted rates of Excise duty

A Commonwealth Gazette notice published on 3 March 2o15 specifies substituted rates of Excise duty for Excise tariff items 5.1 and 5.5.