Disclaimer This edited version has been archived due to the length of time since original publication.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 private advice
Authorisation Number: 1051634591920
Date of advice: 06 March 2020
Ruling
Subject: Assignment of intellectual property and gst
Question
Was the supply of the intellectual property in the agreement entered into before 1 July 2000 a taxable supply?
Answer
No. The supply was not a taxable supply as the supply was complete prior to the inception of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act).
This ruling applies for the following periods:
From the period commencing 1 July 2000 onwards.
Relevant facts and circumstances
You assigned intellectual property prior to 2000 and received payments for that assignment.
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 section 9-5.
A New Tax System (Goods and Services Tax Transition) Act 1999 subsection 6(5), section 7 and section 12.
Reasons for decision
Taking the essential parts of the agreement and applying them to subsection 6(5) of the Transition Act, the supplies of the intellectual property are to be taken as made when they are "performed or done".