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
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 GSTA TPP 046 is withdrawn because it provides no interpretive guidance and the treatment of a share for share swap is covered by paragraphs 43, 78-90, and D4 Schedule 2 of Goods and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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