GST Point-in-Time Service Updates

Friday 7 December 2018 @ 4.56 p.m.

The GST Point-in-Time Service has been updated to include the Treasury Laws Amendment (Black Economy Taskforce Measures No. 2) Act 2018 (Cth) (Act 141 of 2018).

Act 141 of 2018

Schedule 1 to the Act denies an income tax deduction for certain payments if the associated withholding obligations have not been complied with. This will provide a greater incentive for employers and entities engaging contractors to comply with their withholding obligations.
Schedule 2 to this Act requires entities providing road freight, IT or security, investigation or surveillance services that have an ABN to report to the ATO information about transactions that involve engaging other entities to undertake those services for them.
Schedule 3 amends the Excise Acts to establish a framework to make excise duty on tobacco due and payable at the time of manufacture.

The amendments made by this Act have been updated in the Point-in-Time GST Service current to 6 December 2018. (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