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Goods and Services Tax Advice GSTA TPP 018 is withdrawn with effect from today.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 TPP 018 is withdrawn because it is no longer required.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
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You are here | 26 February 2014 | Withdrawn |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).