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: Information provided in this article, while correct at time of publishing, is subject to change.