The Property Council welcomes the opportunity to provide comments to the ATO regarding the draft legislative instrument LI 2022/D15, titled A New Tax System (Goods and Services Tax): Recipient Created Tax Invoice Determination 2023 (the draft instrument).
Our response highlights two key issues that we have identified with the draft instrument:
- The need to include an additional category of qualifying recipient that is an intermediary (or agent)
making a corresponding creditable acquisition from a principal - Clause 7(3)(b) – confirming that the supplier is registered for GST at the time the RCTI is issued.
