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Edited version of private ruling
Authorisation Number: 1011678852455
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Ruling
Subject: Non-Monetary Consideration
Case summary:
In order to protect the privacy and commercial in confidence components of this private ruling the following summary is provided.
Questions
1. Are you liable for GST on a supply made under a specified contract?
2. Are you entitled to claim input tax credits for acquisitions made as a result of entering in to a project under specified contracts.
The following advice was provided:
1. You will be liable for GST on your supply made under the specified contract, provided all the requirements of a taxable supply are satisfied.
2. To the extent that the specified acquisitions are made for a creditable purpose then you will be entitled to claim ITCs. This is provided that the remaining conditions of a creditable acquisition are met.
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