A New Tax System (Goods and Services Tax) Regulations 1999 (repealed)

Part 4-2 - Special rules mainly about supplies and acquisitions  

Division 70 - Financial supplies (reduced credit acquisitions)  

70-5.02B   Reduced credit acquisitions  

The following acquisitions may be reduced credit acquisitions under regulation 70-5.02A :

Item Reduced credit acquisition
Senior executive management
1 Provision of senior management services, including:
(a)   corporate strategy and development; and
(b)   investment strategy and performance measurement functions; and
(c)   profit or business centre performance support
2 Provision of support systems associated with the provision of senior management services
Human resources support
3 Provision of human resources support services, including:
(a)   general advice and planning; and
(b)   recruitment assistance; and
(c)   compensation advice and management; and
(d)   training
4 Processing and maintenance of employee data and files
Corporate marketing and communications
5 Provision of corporate information and communication services
6 Provision of marketing administration and media support services
Financial management
7 Performance of financial management service functions, including:
(a)   tax law compliance; and
(b)   corporate treasury operations; and
(c)   financial control (including statutory reporting and accounting
    policy); and
(d)   general ledger account reporting functions, including paying and
    processing invoices and payment instructions; and
(e)   internal audit functions; and
(f)   management reporting systems; and
(g)   setting intrabank transfer pricing policy; and
(h)   corporate insurance; and
(i)   centralised payroll functions
Supply procurement and management
8 Process and management services for the procurement of supplies
Credit, operational and risk management
9 Establishment and application of credit policy
10 Development, establishment and application of policies, monitoring systems and procedures to manage market and operational risk
11 Development and application of security processes related to fraud prevention
Relationship management
12 Provision of supervision, monitoring and management services in support of client relationships
In-house legal services
13 Provision of legal services, including:
(a)   company secretary functions; and
(b)   regulatory and legal compliance
Technology systems
14 Provision of systems development and computer programming services
15 Maintenance and operation of transaction processing systems (including communications and applications systems)
16 Development and maintenance of disaster recovery systems
Business services
17 Provision of transport, security and mail services
18 Property management

However, something that is used in making a reduced credit acquisition is not, for that reason, a reduced credit acquisition.

Examples for subregulation (2)

  • 1 Consultant's services used in the provision of recruitment services.
  • 2 Labour hire services used in the provision of security services.


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