A New Tax System (Goods and Services Tax) Regulations 2019

Schedule 2 - Examples of financial supply  


See section 40-5.11 .

CLAUSE 10   10   Examples for item 11 of the table in subsection 40-5.09(3) (derivatives)  
A supply mentioned, or a supply of something mentioned, in the following table that relates to the matter mentioned in item 11 of the table in subsection 40-5.09(3) , or to an incidental financial supply, is an example of a supply of an interest in or under that matter, or of an incidental financial supply.

Item Examples
1 Forward contracts, futures contracts, swap contracts and options contracts the value of which depends on, or is derived from:
(a) the price of debt securities or debt securities index values or interest rates; or
(b) foreign exchange or currency values or currency index values; or
(c) share or stock prices or equity index values; or
(d) credit spreads or credit events, including:
  (i) default; and
  (ii) other forms of financial distress; and
  (iii) credit index values; or
(e) macroeconomic indicators or variables; or
(f) climatic events or indexes
2 Commodity derivatives that involve no option, right or obligation to delivery of the commodity, such as electricity derivatives
3 Reciprocal repurchase agreements
4 Options over input taxed supply of precious metals
5 Securities lending agreements
6 Initial and variation margins in respect of exchange traded futures contracts
7 Cash settlement of a derivative over the counter or on the exchange rather than the physical delivery of the underlying taxable assets

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