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Edited version of private ruling
Authorisation Number: 1011797436228
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Ruling
Subject: GST Apportionment for a Credit Card Business
Is the apportionment methodology for loyalty and non-loyalty costs respectively for Entity A's credit card issuing business fair and reasonable for calculating the amount of input tax credits it is entitled to for its acquisitions for the purposes of Division 11 and 15 of the A New Tax System (Goods And Services Tax) Act 1999 (the GST Act)?
The Commissioner ruled that the apportionment methodology for loyalty and non-loyalty costs respectively for Entity A's credit card issuing business is fair and reasonable for calculating the amount of input tax credits it is entitled to for its acquisitions for the purposes of Division 11 and 15 of the A New Tax System (Goods And Services Tax) Act 1999 (the GST Act).