COMMISSIONER OF TAXATION
The Commissioner of Taxation, Chris Jordan, gives notice of the following Rulings, copies of which can be obtained from Branches of the Australian Taxation Office or at http://law.ato.gov.au.
NOTICE OF RULING | ||
Ruling Number | Subject | Brief Description |
CR 2014/66 | Income tax: demerger of Kogi Iron Limited by TGP Australia Limited
| The Ruling sets out the Commissioner’s position for shareholders of TGP Australia Limited.
The Ruling applies from 1 July 2014 to 30 June 2015. |
NOTICE OF ADDENDA | ||
Ruling Number | Subject | Brief Description |
GSTD 2007/1 | Goods and services tax: is a credit card provider entitled to a reduced input tax credit under item 27 of the table in subregulation 70‑5.0(2) of the A New Tax System (Goods and Services Tax) Regulations 1999 for the acquisition of services from a co‑branding partner where it pays commission for those services? | The Addendum amends Goods and Services Tax Determination GSTD 2007/1 to cross reference changes made to GSTR 2004/1 and GSTR 2002/2 which clarify that where a financial supply does not involve the supply of an interest, the ordinary meaning of ‘financial supply provider’ and ‘financial supply facilitator’ applies.
The Addendum applies on and from 20 August 2014. |
GSTR 2002/2 | Goods and services tax: GST treatment of financial supplies and related supplies and acquisitions | The Addendum amends Goods and Services Tax Ruling GSTR 2002/2 to clarify that where a financial supply does not involve the supply of an interest, the ordinary meaning of ‘financial supply provider’ and ‘financial supply facilitator’ applies.
The Addendum applies on and from 20 August 2014. |
GSTR 2004/1 | Goods and services tax: reduced credit acquisitions | The Addendum amends Goods and Services Tax Ruling GSTR 2004/1 to clarify that where a financial supply does not involve the supply of an interest, the ordinary meaning of ‘financial supply provider’ and ‘financial supply facilitator’ applies. It also amends GSTR 2004/1 to clarify that the supply in example 50 relates to a financial supply, as the recovery of a debt is not a supply in itself. It also amends GSTR 2004/1 to clarify when item 29 in the table to regulation 70-5.02 applies to an acquisition that attracts a reduced input tax credit.
The Addendum applies on and from 20 August 2014. |
GSTR 2006/9 | Goods and services tax: supplies
| The Addendum amends Goods and Services Tax Ruling GSTR 2006/9 to take account of the Full Federal Court decision in AP Group Limited v. Commissioner of Taxation [2013] FCAFC 105, which considered the GST treatment of payments made by motor vehicle manufacturers or distributors to the taxpayer (a motor vehicle dealership). The Addendum also amends GSTR 2006/9 to update the Case references.
The Addendum amends GSTR 2006/9 to explain the Commissioner's view of the law as it applies both before and after the date of issue. |