Thursday, 30 November, 2023

01 Sep 2004 | Australasian Dental Practice

news > Briefs > Page 8

Corporate credit card waiver extended

The Australian Taxation Office has updated a ruling explaining when businesses can claim GST input tax credits on corporate card payments made without a tax invoice.

The new ruling extends by two years - to 30 June 2006 - the waiver of the tax invoice requirement and clarifies the definition of "corporate card". As before, the ruling allows businesses using corporate cards to claim an input tax credit without holding a tax invoice subject to certain conditions. Businesses must have effective procedures for adjusting private or domestic payments made on the corporate card. A corporate card is defined as "a card that is issued to and in the name of an entity and is used to purchase goods and services for commercial purposes".


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