| Disclaimer This edited version has been archived due to the length of time since original publication.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: 1012713287591
Ruling
Subject: GST and Committed Liquidity Facility
The Commissioner has ruled on each of the following questions.
1. Is the provision of a Liquidity Facility (LF) by an entity to an Institution, the provision of a credit arrangement or right to credit for the ADI under subregulation 40-5.09(3) of the A New Tax System (Goods and Services Tax) Regulations 1999 (GST Regulations)?
2. Would the fee received by the entity for providing access to the LF be deemed consideration for the provision of the credit arrangement or right to credit?