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Goods and Services Tax Advice GSTA TPP 046 is withdrawn with effect from today.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 GSTA TPP 046 is withdrawn because it provides no interpretive guidance and the treatment of a share for share swap is covered by paragraphs 43, 78-90, and D4 Schedule 2 of Goods and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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You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

Not previously issued as a draft

References

ATO references:
NO 1-5BF088B

ISSN: 1833-0053
GSTA TPP 046W history
  Date: Version: Change:
  14 June 2005 Original ruling  
  31 October 2012 Consolidated ruling Addendum
You are here 11 June 2014 Withdrawn