Goods and services tax: adjustment notes
28 August 2013
The ATO has issued a new ruling.
This Ruling sets out the requirements for adjustment notes under Division 29 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act).1
In particular, the Ruling outlines:
·
when a document is in the approved form for an adjustment note;
·
the information requirements that the Commissioner has determined under paragraph 29-75(1)(c), and an explanation of how those information requirements in A New Tax System (Goods and Services Tax) Adjustment Note Information Requirements Determination 2012 (the legislative instrument) apply; and
·
when the Commissioner will treat a particular document as an adjustment note even though that document does not meet all of the adjustment note requirements under subsection 29-75(1).
This Ruling also includes an appendix summarising the circumstances when a decreasing adjustment can be attributed without an adjustment note as determined by the Commissioner under subsection 29-20(3).