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ATO Releases – Rulings/Determinations

Tax Telegraph, October 2013

GST Determination (GSTD 2013/2) on Second-hand goods

This Determination outlines circumstances in which second-hand goods are acquired for the purpose of sale in the ordinary course of business under Division 66 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act). The Determination also sets out the particular circumstances in which an entity that carries on a business involving the leasing and selling of second-hand goods will satisfy the requirement that the second-hand goods are acquired for the purpose of sale.

Draft Practice Statement (PSLA 3648)  on fuel tax credits

The ATO has released Draft Practice Statement PS LA 3648 (GA) setting out specific 'safe harbour' rates that the ATO considers to be ‘fair and reasonable’ for the purposes of taxpayers claiming fuel tax credits for taxable fuel that is for use in powering auxiliary equipment in/on heavy vehicles travelling on public roads. Heavy vehicles are those with a gross vehicle mass of 4.5 tonnes or more. Auxiliary equipment of such a vehicle is a mechanism or apparatus that is not for propelling the vehicle or for operating aspects of the vehicle that are for the purpose of travelling.

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