Goods and Services Tax Advice

GSTA TPP 046W

Goods and services tax: Is a share for share swap a financial supply for GST purposes?

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Notice of Withdrawal

Goods and Services Tax Advice GSTA TPP 046 is withdrawn with effect from today.

1. GSTA TPP 046 stated that a share for share swap would be a financial supply for GST purposes if all the requirements of subregulation 40-5.09(1) of the A New Tax System (Goods and Services Tax) Regulations 1999 are satisfied.

2. GSTA TPP 046 is withdrawn because it provides no interpretive guidance and the treatment of a share for share swap is covered by paragraphs 43, 78-90, and D4 Schedule 2 of Goods and Services Tax Ruling GSTR 2002/2 Goods and services tax: GST treatment of financial supplies and related supplies and acquisitions.

Commissioner of Taxation
11 June 2014

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Not previously issued as a draft

References

ATO references:
NO 1-5BF088B