07 Jun 12 GST: retail foreign currency exchange transactions - GSTD 2012/5
On 6 June 2012, the ATO issued GST Determination GSTD 2012/5 entitled "Goods and services tax: are acquisitions related to an entity's retail foreign currency exchange transactions with customers in Australia made solely for a creditable purpose under section 11-15 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)?"
It was previously released in draft form as GSTD 2011/D5.
The answer given is "No. The acquisitions are made only partly for a creditable purpose."