Goods and Services Tax Advice

GSTA TPP 018W

Goods and services tax: Can an interest charge be a change in consideration and therefore an adjustment event (as opposed to a financial supply)?

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Notice of Withdrawal Goods and Services Tax Advice

Goods and Services Tax Advice GSTA TPP 018 is withdrawn with effect from today.

1. Goods and Services Tax Advice GSTA TPP 018 explains that an interest charge is consideration for a financial supply and does not give rise to an adjustment event.

2. TPP 018 is withdrawn because it is no longer required. It is a duplication of an existing ATO view.

3. The Commissioner's view is contained in paragraphs 29, 31 and 32 of GSTR 2000/19 Goods and services tax: making adjustments under Division 19 for adjustment events.

Commissioner of Taxation
26 February 2014

© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA

You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).

References

ATO references:
NO 1-55WN85Y

ISSN: 1833-0053
GSTA TPP 018W history
  Date: Version: Change:
  14 June 2005 Original ruling  
  31 October 2012 Consolidated ruling Addendum
You are here 26 February 2014 Withdrawn  

Copyright notice

© Australian Taxation Office for the Commonwealth of Australia

You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).