- The Australian Parliament passed the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Bill 2025.
- The bill amends the Corporations Act 2001 and other laws.
- It allows taxpayers to attribute a GST input credit to a later tax period if not previously claimed.
- It permits taxpayers to deduct GST payable by reverse charge if the GST amount exceeds their entitled input credits, subject to conditions.
Source: news.bloombergtax.com
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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