| Disclaimer This edited version has been archived due to the length of time since original publication. It should not be regarded as indicative of the ATO's current views. The law may have changed since original publication, and views in the edited version may also be affected by subsequent precedents and new approaches to the application of the law. You cannot rely on this record in your tax affairs. It is not binding and provides you with no protection (including from any underpaid tax, penalty or interest). In addition, this record is not an authority for the purposes of establishing a reasonably arguable position for you to apply to your own circumstances. For more information on the status of edited versions of private advice and reasons we publish them, see PS LA 2008/4. |
Edited version of your written advice
Authorisation Number: 1012713097328
Ruling
Subject: GST
The Commissioner has ruled on each of the following questions.
Question 1
Is the trust X an 'entity' which carries on an enterprise for GST purposes?
Question 2
Does entity Y enter into agreements with financial advisers (Advisers) for the supply of adviser services in its capacity as operator/trustee of the trust X?
Question 3
Is entity Y, in its capacity as operator/trustee of the trust X, the acquirer of the supply of adviser services made by Advisers?
Question 4
Does entity Y, in its capacity as operator/trustee of the trust X make reduced credit acquisitions pursuant to Division 70 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) and Division 70 of Part 4.2 of the A New Tax System (Goods and Services Tax) Regulations1999 (GST Regulations) when it acquires supplies of adviser services from Advisers and accordingly, is entity Y, in its capacity as operator/trustee of the trust X entitled to a reduced input tax credit for these acquisitions?
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 Division 11
A New Tax System (Goods and Services Tax) Act 1999 Division 70
A New Tax System (Goods and Services Tax) Act 1999 Section 184-1
A New Tax System (Goods and Services Tax) Regulations1999 Division 70