Contents
Chapter 1 – Background
Chapter 2 – Tax invoice requirements
Chapter 3 – Cryptocurrencies
- Crypto-assets are a fast-growing sector
- Should different types of crypto-assets have different GST treatments?
- Issues with applying GST to crypto-assets
- Issues from applying financial arrangement rules to crypto-assets
- How should a crypto-asset be defined?
- How should GST be removed from supplies of crypto-assets?
- Other services related to crypto-assets
- Other tax rules will continue to apply to crypto-assets
- Application date
- Other tax issues with crypto-assets
Chapter 4 – Apportionment and adjustment
- Change of use wash-up calculation (non-land assets)
- Zero-rated supplies of going concerns
- Apportionment of land
- Other ways to simplify the apportionment and adjustment rules
Chapter 5 – Domestic legs of the international transport of goods
Chapter 6 – Business conferences and staff training
- Impractical for offshore businesses to claim back GST on conferences and staff training
- Zero-rating GST on conferences and staff training supplied to non-resident businesses
- Design issues
Chapter 7 – Managed funds
- There are differing GST treatments for management services supplied to managed funds
- Policy objectives when considering GST treatment of services supplied to managed funds
- GST treatment of managed funds in other countries
- Policy options for how GST could apply to manager and investment manager services
- Application date
- Defining the relevant management and investment management services
- Other outsourced services which are not management services
Chapter 8 – Insurance pay-outs to third parties
- Current GST rules for insurance
- Intended operation of rules when insurance pay-out is to a GST-registered third party
- Problems occur when a GST-registered third-party is unaware of source of the payment
- Scale of the problem
- Policy options for improving certainty and compliance with GST on insurance pay-outs
- Application date
Chapter 9 – Compulsory zero-rating of land
- Relationship between sections 5(23) and 78F when land is incorrectly treated as zero-rated
- Non-taxable supply incorrectly treated as zero-rated
- Date of deemed supply under section 5(23)
- Taxable period for adjustment when a second-hand goods deduction has been incorrectly claimed by purchaser of zero-rated land
- Date of output tax adjustment under section 20(3J)
Chapter 10 – Technical and remedial issues
- GST grouping rules
- Input tax credits on goods not physically received yet at the time the GST return is filed
- Second-hand goods input tax credits on supplies between associated persons
- Providing more flexibility for the Commissioner to approve the end date of a taxable period
- Members of non-statutory boards
- Challenge rights in relation to a decision of the Commissioner to reopen time-barred GST return