New Standard clause, Recipient-created tax invoice (RCTI)
The Standard clause, Recipient-created tax invoice (RCTI) is designed to be used in a contract for the supply of goods or services where the parties agree for the recipient to issue RCTIs in accordance with the requirements of A New Tax System (Goods and Services Tax) Act 1999 (Cth).
This standard clause includes information about when RCTIs can be used, commercial reasons to use RCTIs, requirements when issuing RCTIs and drafting tips for integrating the standard clause into existing template contracts.
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