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Edited version of private advice
Authorisation Number: 1051586736722
Date of advice: 29 October 2019
Ruling
Subject: Financial supplies made under two agreements
Question
Is the supply of a credit facility made under two agreements a single supply of a credit arrangement which is an input taxed financial supply for GST purposes?
Answer
The Commissioner ruled that a credit facility made under two agreements is a single supply of a credit arrangement which is an input taxed financial supply for GST purposes.
Relevant legislative provisions
Section 9-5 of the A New Tax System (Goods and Services Tax) Act 1999
Subsection 40-5(2) of the A New Tax System (Goods and Services Tax) Act 1999