03 Nov 11 GST: financial assistance payments - GSTR 2011/D4
On 2 November 2011, the ATO released draft GST Ruling GSTR 2011/D4 entitled "Goods and services tax: financial assistance payments" for public comment by 16 December 2011.
Governments, government agencies, non-profit bodies, charities and other entities ('payer') make financial assistance payments under different arrangements. Financial assistance payments can be made for a number of reasons including implementing or supporting government policy and initiatives and philanthropy. The recipients of those financial assistance payments are usually government related entities, non-profit bodies, charities, corporate entities or individuals.