A New Tax System (Goods and Services Tax) Waiver of Tax Invoice Requirement (Motor Vehicle Incentive Payment Made to Motor Vehicle Dealer) Legislative Instrument 2014

Legislative Instrument A New Tax System (Goods and Services Tax) Waiver of Tax Invoice Requirement (Motor Vehicle Incentive Payment Made to Motor Vehicle Dealer) Legislative Instrument 20 14 I, James O’Halloran , Deputy Commissioner of Taxation, make this legislative instrument under subsection 29-10(3) of the A New Tax System (Goods and Services Tax) Act 1999 ( GST Act). 1. Name of instrument This legislative instrument is the A New Tax System (Goods and Services Tax) Waiver of Tax Invoice Requirement ( Motor Vehicle Incentive Payment Made to Motor Vehicle Dealer ) Legislative Instrument 201 4 . 2. Commencement and application of this instrument (a) This legislative instrument is taken to have commenced on 1 May 2014 . (b) This legislative instrument applies to tax periods for which the GST return is required to be given to the Commissioner on or after 1 May 2014. (c) This legislative instrument does not revoke, amend or vary any previous legislative instrument made by the Commissioner or a delegate . 3. Waiver of requirement to hold a tax invoice For the purposes of attributing an input tax credit for a creditable acquisition to a tax period , if : (a) a recipient makes a creditable acquisition of a motor vehicle from a motor vehicle dealer (the supplier); and (b) the supplier receives or is entitled to receive a motor vehicle incentive payment for the supply of the motor vehicle to the recipient in addition to the consideration payable by the recipient; the recipient is not required (under subsection 29-10(3) of the GST Act) to hold a tax invoice before the input tax credit for the creditable acquisition is attributable to that tax period if the requirements provided by this instrument are satisfied. 4. Waiver from holding a tax invoice requirements A t the time the recipient gives its GST return for the tax period to the Commissioner , the recipient holds a document that meets the information requirements set out in clause 5. 5. Document information requirements The document referred to in clause 4: (a) meets the requirements of paragraphs 29-70(1)(a)and 29-70(1)(c) of the GST Act other than subparagraphs 29-70(1)(c)(iii) and 29-70(1)(c)(vi) of the GST Act; and (b) contains enough information to enable the following to be clearly ascertained from the document: ( i ) what is supplied, including the quantity (if applicable); and (ii) the amount of consideration payable by the recipient of the supply; and (iii) the amount of GST payable that is referable to the consideration payable by the recipient. 6. Definitions E xpressions in this legislative instrument have the same meaning as in t he GST Act. Consideration payable by the recipient does not include the motor vehicle incentive payment. Motor vehicle incentive payment means the consideration provided by a motor vehicle manufacturer, distributor or importer to the motor vehicle dealer that is part of the consideration for the supply of the motor vehicle to the recipient. Dated 8 M ay 2014 James O’Halloran Deputy Commissioner of Taxation