19 Jan 099 GST treatment of ATM services - draft regulationsAs reported in 2009 TAXVINE No 1 (16 January 2009), on 18 December 2008, the Assistant Treasurer, Chris Bowen, announced that the GST law will be changed to ensure that no customers will be charged GST on automatic teller machine (ATM transaction fees when ATM owners start charging ATM users directly for withdrawals from 3 March 2009. ATM transactions will be input taxed supplies for all ATM owners.
Treasury has now released draft regulations to amend The A New Tax System (Goods and Services Tax) Regulations 1999, together with an accompanying Explanatory Statement. The closing date for submissions is 5 February 2009.
For a copy of the documents, go here.