GST: Reporting of Grants and Payments made by Commonwealth, State and Local Government ‘ Update

The ATO has provided an update on the proposed system whereby Commonwealth, State and Local Government will report payments and grants that they make, to the ATO. The object is to enable the ATO to ensure (through data matching) that recipients of certain government payments/grants accurately disclose their income tax and GST liabilities to the ATO.

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Disclaimer: This article is based upon information available as at the time of publishing and may be subject to change.