Goods and Services Tax Ruling
GSTR 2002/3A6 - Addendum
Goods and services tax: prizes
Please note that the PDF version is the authorised version of this ruling.View the consolidated version for this notice.
This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Goods and Services Tax Ruling GSTR 2002/3 to:
- reflect the amendments to the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) which were made by Tax and Superannuation Laws Amendment (2012 Measures No. 1) Act 2012. In particular it reflects the amendment that inserted section 9-17 into the GST Act. Section 9-17 contains exclusions from the meaning of 'consideration' formerly contained in subsection 9-15(3). Section 9-17 is now also referred to in the definition of 'consideration' as defined by section 195-1. The amendments apply to payments made on or after 1 July 2012.
- update the date of effect section of the Ruling.
GSTR 2002/3 is amended as follows:
Omit the text 'subdivision 38-H'; substitute 'section 38-270'.
Omit '18 August 2010, 31 October 2012 and 8 May 2013' substitute '25 August 2010, 31 October 2012, 8 May 2013 and 28 August 2013'.
Omit 'section 9-15'; substitute 'sections 9-15 and 9-17'.
4. Heading before paragraph 58
Omit 'Paragraph 9-15(3)(a)'; substitute 'Subsection 9-17(1)'.
Omit text, substitute:
58. Subsection 9-17(1) is about consideration for a supply, where the supply is made on the exercise of a right or option already granted. Subsection 9-17(1) states:'If a right or option to acquire a thing is granted, then:
- the consideration for the supply of the thing on the exercise of the right or option is limited to any additional consideration provided either for the supply or in connection with the exercise of the right or option; or
- if there is no such additional consideration - there is no consideration for the supply.....'
Omit 'Paragraph 9-15(3)(a)'; substitute 'Section 9-17(1)'.
Omit the footnote; substitute 'Subsection 9-17(1).'.
|Additional consideration - Paragraph 9-15(3)(a)||58|
|Additional consideration - Subsection 9-17(1)||58|
- ANTS(GST)A99 9-15(3)(a)
- ANTS(GST)A99 Subdiv 38-H
- ANTS(GST)A99 9-17
- ANTS(GST)A99 9-17(1)
This Addendum applies on and from 1 July 2012.
Commissioner of Taxation
28 August 2013