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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."


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