Division 81

[cold]

Hi Everyone

Has anybody heard about changes to Division 81.

If so could you please provide information regarding changes.

Col

[ken]

Hi Col,

We covered off on the removal of Div 81 in the October edition of our newsletter, LG "Debits & Credits" - refer attached (section 1.6).

Not much to update at this stage since our article - the replacement date for Div 81 is 1st July, 2011.

regards for now....Ken

[ken]

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The Draft GST Legislation moving away from the existing Division 81 Treasurer's Determination listing of exempt Government Agency Taxes, Fees & Charges to the new "Self Assessed" principles based regime (effective) from 1/7/11 has been available since March 2011.

We have attached below for interested Councils :

1. Final Div 81 Lgislation
2. Final Explanatory Memorandum
3. Final Regulation
4. LGMA submission re. draft Legislation
5. LGMA submission re. published Regulation

Our newsletter, LG "Debits & Credits" covered off on an update of the "road ahead" for Councils under the new "Self Assessment" Regime in the June 2011 edition.
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[ken]

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Our June 2011 edition of LG "Debits & Credits" made mention of a "WAY FORWARD" for Councils to transition from the current Division 81 Treasurer's Determination method of determining Taxes, Fees & Charges when determining if they are non GST'ble to the new (from 1/7/11) "principles based" seld assessment regime !!

A flyer in relation to the services of Pat McCarthy (Genesis Accounting Pty Ltd) and his "way forward" for NSW Councils on the new Division 81 Self Assessment Regime is attached.
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