- Australia enacted the Treasury Laws Amendment (Strengthening Financial Systems and Other Measures) Act 2025, effective July 1, 2024.
- The act allows taxpayers to deduct GST payable by reverse charge if it exceeds their entitled input credits or reduced input credits, under certain 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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