A New Tax System (Goods and Services Tax) Regulations 1999 (repealed)

Schedule 7 - Examples of financial supply  

(regulation 40-5.11 )

Note 1

The examples are not to be taken as exhaustive.

Note 2

If an example is inconsistent with the description of the financial supply in the item in the table in regulation 40-5.09 to which the example relates, the description prevails.

See s 15AD of the Acts Interpretation Act 1901 .

Part 9 - Examples for item 11 in the table in regulation 40-5.09  

Item Example
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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