| Disclaimer 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: 1052151936493
Date of advice: 8 August 2023
Ruling
Subject: GST - contributions to a trust fund
Question 1
Are the contributions to the Trust Fund by Entity A, consideration for a taxable supply under section 9-5 of the A New Tax System (Goods and Services tax) Act 1999 (GST Act)?
Answer
No, the contributions to the Trust Fund by Entity A are not consideration for a supply by the Trust Fund to Entity A and therefore are not taxable supplies under section 9-5 of the GST Act.
Question 2
Does the Trust Fund make a taxable supply to Entity B under section 9-5 of the GST Act when it makes a payment to or on behalf of Entity B?
Answer
No, the Trust Fund does not make a taxable supply to Entity B under section 9-5 of the GST Act when it makes a payment to or on behalf of Entity B.
Question 3
Is the Trust Fund entitled to claim an input tax credit under section 11-20 of the GST Act, for the acquisition of Services under the Services Agreement?
Answer
Yes, the Trust Fund is entitled to claim input tax credits under section 11-20 of the GST Act for the acquisition of the Services under the Services Agreement.
This ruling applies for the following period:
Year ending 30 June 2024
Year ending 30 June 2025
Year ending 30 June 2026
Year ending 30 June 2027
The scheme commences on:
8 August 2023
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 section 9-5
A New Tax System (Goods and Services Tax) Act 1999 section 9-10
A New Tax System (Goods and Services Tax) Act 1999 section 9-15
A New Tax System (Goods and Services Tax) Act 1999 section 11-5
A New Tax System (Goods and Services Tax) Act 1999 section 11-20