- The ATO finalized a legislative instrument waiving the tax invoice requirement for Direct Entry Services in certain cases.
- This applies to recipients of Direct Entry Services for attributing input tax credits to a tax period when specific conditions are met.
- The Direct Entry System facilitates high-volume electronic debit and credit payments for businesses and government entities.
- The new instrument repeals and replaces the previous determination set to expire on 1 October 2025.
- The new instrument maintains the same substantive effect as the previous one.
Source: pwc.com.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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