Specified premises criteria now hinge on preceding year accommodation value, altering GST treatment for restaurant services.
Amendments redefine specified premises by reference to the value of supply of any unit of accommodation in the preceding financial year, and by prescribed opt in declarations, replacing the earlier declared tariff test; this determination governs whether restaurant services from that premises attract the higher GST treatment with input tax credit or the lower rate without input tax credit, and declarations must be filed separately for each premise within the specified windows. (AI Summary)