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Edited version of private advice
Authorisation Number: 1051932942270
Date of advice: 23 February 2022
Ruling
Subject: GST and financial supplies
Question
You sought a private ruling on whether you make a supply of an interest in a debt pursuant subsection 40-5.09(1) of the A New Tax System (Goods and Services Tax) Regulations 2019 (GST Regulations), and also whether the nature of the funding you received constitutes a 'recoupment' of research & development expenditure for the purpose of section 355-440 of the Income Tax Assessment Act 1997 (ITAA1997).
Answer
The Commissioner has provided answers to the issues you sought clarification on.
Facts and circumstances
You are a party to a funding arrangement.