Skip to main content
shopping_cart

Your shopping cart is empty

25 Aug 11 GST: Taxpayer Alert TA 2010/1 and reduced credit acquisitions made by a financial supply provider - GSTD 2011/D2

On 24 August 2011, the ATO issued draft GST Determination GSTD 2011/D2 for public comment by 7 October 2011.

Its full title is "Goods and services tax: do the acquisitions of the services provided under the arrangement described in Taxpayer Alert TA 2010/1 form part of a reduced credit acquisition made by the financial supply provider under item 9 of the table in subregulation 70-5.02(2) of the A New Tax System (Goods and Services Tax) Regulations 1999?"

The Determination states:

"1. The acquisition of the investment banking services referred to in the arrangement described in Taxpayer Alert TA 2010/1 that the financial supply facilitator (FSF) acquires and then supplies to the financial supply provider (FSP) is a reduced credit acquisition made by the FSP under item 9 of the table in subregulation 70-5.02(2) of the A New Tax System (Goods and Services Tax) Regulations 1999 (GST Regulations).

2. The tax, legal and public relations advisory services referred to in the arrangement and other services that are acquired by the FSF from service providers and merely passed on to the FSP do not form part of a reduced credit acquisition by the FSP under item 9 of the table in subregulation 70-5.02(2)."

 


Media Release Search
Keywords
Eg. TD 2005/D52 ALL words EXACT phrase WITHOUT words Date range
From To