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This edited version has been archived due to the length of time since original publication.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.

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Edited version of private advice

Authorisation Number: 1051520296214

Date of advice: 23 May 2019

Ruling

Subject: Goods and services tax and the transfer of assets

Question

Will the asset holders make a supply, as envisaged by section 9-10 of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act), where certain assets and liabilities are transferred?

Answer

The Commissioner ruled that the transfers are not supplies in accordance with section 9-10 of the GST Act

The scheme commences on:

The date of issue of the private ruling.

Relevant facts and circumstances

A company was incorporated as a public company limited by shares. Its assets will be transferred from two other companies.

Relevant legislative provisions

A New Tax System (Goods and Services Tax) Act 1999 section 9-10