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  • Footnotes

    8 Paragraph 153-15(1)(b)

    9 Section 153-5

    10 The name and address or ABN of the recipient only have to be shown if the total amount payable on a tax invoice is $1000 or more.

    11 Subsection 184-1(1)

    12 Paragraph 29-70(1)(b)

    13 The trustee entity will be issued with a different ABN if it also acts as trustee for another trust

    14 Regulation 29-70(2)(c) and (3)(c)

    15 Regulation 29-70(2)(d)

    16 GSTR 2000/17 F33 Subsection 111-(5)1External Link

    17 GSTR 2000/17 F34 SubsectionExternal Link 111-15External Link

    1 The role of the GST Rulings Panel in relation to GST rulings is the same as the role of the Public Rulings Panel and the International Rulings Panel in relation to other ATO rulings.

    2 The views in this paper are based on the contractual arrangements between the parties having this effect. The GST consequences of a chargeback may be different if the relevant contractual arrangements do not operate in this way.

    3 A chargeback is not an adjustment event under para 19-10(1)(a) of the GST Act 'cancelling a supply' or para 19-10(1)(c) of the GST Act 'causing a supply to stop being a taxable supply' either.

    4 An adjustment will only arise where the original supply by the merchant to the customer is a taxable supply or a supply with a taxable component. See s19-40 of the GST Act.

    5 See the fact sheet 'Correcting GST mistakes' (Nat 4700) for guidelines on when errors can be corrected in a subsequent BAS and when a revised BAS must be lodged.

    6Re Charge Card Services Ltd [1988] 3 WLR 764

    7Customs and Excise Commissioners v Diners Club Ltd; Customer Services Ltd (1989) 4 BVC 74

    8 This is also consistent with a recently released NZ Draft Ruling PU0089. PU0089 states that consideration for a credit card transaction is provided on the date that the transaction takes place.

    9 7541/1992

    10 Subject to the exception mentioned above at paragraph 4.

    11 Note also that there is no 'debt' between the merchant and the financial institution to which Division 21 can apply either.

    12 See the fact sheet 'Correcting GST mistakes' (Nat 4700) for guidelines on when errors can be corrected in a subsequent BAS and when a revised BAS must be lodged.

    13Id.

      Last modified: 22 May 2014QC 28063