Time of Supply Rules and Rates
29 July 2010
The Financial Management Working Party asked Taxteam to produce guidance on the GST rules for time of supply and how these apply to common rating situations – postponements, arrears and the like. The guidance is correct as of 29 July 2010.
Download Time of Supply Rules and Rates (PDF 232 kb)
For further information please contact Richard Toovey or Michael Brunner – contact details are in the brochure.
3 May 2010
As part of its work on the GST issue, SOLGM is releasing the following documents relating to this work:
- Message from the Financial Management Working Party
- a report on the work that SOLGM has done on the
transitional issues associated with the impending
increase in GST.
Download document (PDF 105 kb)
- Draft opinion from Simpson Grierson and the setting
and assessment of rates
Download document (PDF 651 kb)
- A copy of the letter sent to Inland Revenue seeking
the composite rate
Download document (PDF, 39 kb)
Toovey Eaton, Simpson Greirson and Inland Revenue have been unable to locate any statutory authority for the composite rate that applied in 1989 – though there is evidence that one applied on a case by case basis.
The opinion shows that local authorities do have options to set and assess rates in such a way that complies with the Rating Act and the GST Act.
There are issues with some software and its ability to cope with a mid-year change in a major parameter. However in the absence of any precedent and any legal impediment to the setting of rates our assessment is that the case for a composite rate is unlikely to succeed. All local authorities should plan for a mid-year increase in the rate of GST and no composite rate.
For more information about this work on the GST, please contact:
Senior Adviser, Good Practice and Policy
04 978 1283
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