Retailing and wholesaling industry - rulings and determinations

GST Rulings - Summaries

GSTR 2003/5 Goods and Services Tax: Vouchers.

The Ruling explains the Commissioner's view on how the A New Tax System (Goods and Services Tax) Act 1999 ('GST Act') applies to vouchers. This Ruling:

outlines the meaning of 'voucher', for the purposes of Division 100 of the GST Act;
provides guidelines on the identification and treatment of vouchers to which section 100-5 of the GST Act applies;
explains the differing implications on the supply and redemption of vouchers, depending on whether section 100-5 applies; and
explains the GST implications of payments received by a supplier from third parties on redemption of a voucher to which section 100-5 applies.

Each example in the Ruling demonstrates a particular principle, or significant point in determining whether a voucher is a voucher to which Division 100 applies.

Issued 28 May 2003.

GSTR 2000/12 Goods and services tax: attributing GST payable and input tax credits for supplies and acquisitions under lay-by sale agreements.

This Ruling applies to entities that make taxable supplies or creditable acquisitions under lay-by sale agreements.

The Ruling is about attribution of GST payable and input tax credits under the GST Act for supplies and acquisitions made under lay-by sale agreements.

This Ruling explains the effect of, and reasons for, the Commissioner making a determination under section 29-25 to alter the rules for attribution of GST payable on taxable supplies and input tax credits for creditable acquisitions made under lay-by sale agreements. The determination applies only to entities that do not account for GST on a cash basis. A copy of the determination is attached to the Ruling.

This Ruling also gives a brief outline of the application of the A New Tax System (Goods and Services Tax Transition) Act 1999 to supplies and acquisitions made under lay-by sale agreements entered into before 1 July 2000.

Issued 26 May 2000.

GST Determinations

GSTD 2001/2 Goods and Services Tax: is the sale of goods by a lessor on expiry of a lease agreement a separate supply to the lease of the goods?

The Determination describes the GST consequences when goods that were formerly leased are sold. It discusses adjustment events that arise where the sale proceeds either exceed or fall short of the residual value specified in a lease.

The Determination also explains the application of the GST Transition Act where a supply of a lease spans 1 July 2000, and the appropriate adjustments required where a lessee makes a shortfall payment to a lessor, or a lessor makes a surplus payment to a lessee under such a lease. Examples are provided in the Determination to demonstrate its application.

Issued 14 March 2001.

Last Modified: Thursday, 17 June 2004