GST Point-in-Time Service Updates

The GST Service has been updated to include the Treasury Laws Amendment (2022 Measures No. 1) Act 2022 (Cth) (Act 35 of 2022).

Act 35 of 2022

An Act to amend the law relating to taxation and superannuation, to make miscellaneous and technical amendments of the statute law of the Commonwealth, and for related purposes.

Schedule 4 of the Act amends the TAA 1953 in regards to corporate tax transparency provisions.

Please note, Schedule 4 of this Act also retrospectively amends the automatic commencements of the Treasury Laws Amendment (Registries Modernisation and Other Measures) Act 2020 (Cth) (Act 69 of 2020).

Previously, parts of these Acts automatically commenced on 22 June 2022. Following the amendments, these Acts will now automatically commence on 1 July 2026, or on an earlier date if specified by Proclamation.

These commencements affect amendments to the following Acts:

• Taxation Administration Act 1953 (Cth) (Act 1 of 1953);
• A New Tax System (Goods and Services Tax) Act 1999 (Cth) (Act 55 of 1999);
• A New Tax System (Australian Business Number) Act 1999 (Cth) (Act 84 of 1999); and
• Business Names Registration (Transitional and Consequential Provisions) Act 2011 (Cth) (Act 127 of 2011).

These amendments have been updated in the Point-in-Time GST Service current to 18 August 2022. (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.