A joint submission from the Institute of Chartered Accountants in Australia, the Taxation Institute of Australia, CPA Australia, the National Institute of Accountants, and Taxpayers Australia.
The Professional Bodies welcome the draft GSTR Ruling. The Professional Bodies also commend the ATO in seeking to clarify the GST treatment of tax law partnerships by the issue of a draft ruling specifically on this topic. Notwithstanding the acknowledged difficulties, which arise in this area of the law, the draft ruling seeks to make subtle distinctions in factual circumstances to illustrate very different GST consequences. The professional bodies do not believe that many of those distinctions are either justifiable as a matter of law, or commercially practicable for implementation