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On 30 May 2012, the ATO issued GST Ruling GSTR 2012/2 entitled "Goods and services tax: financial assistance payments".

It was previously released in draft form as GSTR 2011/D4.

This Ruling explains the Commissioner's views on when a financial assistance payment is consideration for a supply. Where it is established that there is a taxable supply, the Ruling explains the GST obligations of the payee and the payer's entitlement to any input tax credit in relation to the arrangement.

With effect from the same day, GSTR 2000/11 entitled "Goods and services tax: grants of financial assistance" was withdrawn by GSTR 2000/11W, except to the extent that it applies to the class of entities who fall within the transitional provisions described at paragraph 4 of the withdrawal notice. Where the transitional provisions apply, GSTR 2000/11 is withdrawn from 1 January 2013.


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