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

Schedule 3 - Examples of supply that is not financial supply  


See section 40-5.13 .

CLAUSE 2   2   Examples for item 4 of the table in section 40-5.12 (payment systems)  
A supply mentioned, or a supply of something mentioned, in the following table that relates to something mentioned in item 4 of the table in section 40-5.12 is an example of a supply mentioned in that section.

Payment systems
Item Examples
1 Supply of services by a payment system operator to a participant in the system for which the following fees are charged by the operator:
(a) membership fees;
(b) processing fees;
(c) service fees;
(d) marketing fees;
(e) risk management fees;
(f) multi-currency fees
2 Access to a payment system, and supply of other related services by a participant in the system to a third party
3 Supply of a service by one participant in a payment system to another participant in the system in relation to charge, credit and debit card transactions
4 Processing, settling, clearing and switching transactions of the following kinds:
(a) direct credit and debit;
(b) other debit and credit transactions;
(c) charge, credit and debit card transactions;
(d) cheque;
(e) electronic funds transfer;
(f) ATM;
(g) BPAY;
(h) internet banking;
(i) Bank@Post;
(j) SWIFT (Society for Worldwide Interbank Financial Telecommunications) Payment Delivery System;
(k) an approved RTGS (real time gross settlement) system;
(l) Austraclear
5 Supply to a participant in a payment system by the operator of the system of the following services:
(a) processing of account data;
(b) electronic payment services


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