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

Schedule 2 - Examples of financial supply  

Note:

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.

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 values, foreign currency values, Australian currency values, foreign currency index values or Australian 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