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  • Issue 6 – Financial supplies

    6.a. What is the de minimis test?


    The de minimis test refers to the financial acquisition threshold.

    Refer to Question 7: Financial services - questions and answers:

    6.b. Is the de minimis threshold based on a group wide test or is the threshold based upon an entity basis only?


    Where members have grouped, the de minimis threshold is based on a group wide test. Section 48-45 of the GST Act prescribes that where members have grouped the representative member is entitled to the input tax credits.

    The tests must therefore be applied to the group.

      Last modified: 09 Dec 2020QC 16411