GST Point-in-Time Service Updates

Wednesday 4 October 2017 @ 9.56 a.m.

The GST Point-in-Time Service has been updated to include the new principal Taxation Administration Regulations 2017.

Taxation Administration Regulations 2017

These Regulations remake and improve the Taxation Administration Regulations 1976, which are due to sunset, by repealing redundant provisions, simplifying language and restructuring provisions for ease of navigation. The key changes are:

  • the structure of the Regulations has been changed from that used in the Taxation Administration Regulations 1976 to follow the Act more closely;
  • headings to Parts of the Regulations have been updated to state whether they relate to the body of the Act or Schedule 1 to the Act;
  • expressions in sections that are made for the purpose of Schedule 1 to the Act take their meaning from the Income Tax Assessment Act 1997, rather than the body of the Act. The effect of this is that a number of expressions that were duplicated from the Income Tax Assessment Act 1997 have been removed; and
  • certain provisions that deal with withholding payments to foreign residents have been restructured so that the provisions that prescribe what types of payments are covered are separate from the provisions for working out the amount of the payment.

The new Regulation has been updated in the Point-in-Time GST Service current to 3 October 2017. (NB: Subscription required).

If you are not already a subscriber to this or other Point-in-Time Services then please contact us to find out more or to take a free trial