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

Schedule 2 - Examples of financial supply  

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.


Derivatives
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




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.