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Edited version of private advice
Authorisation Number: 1052298637613
Date of advice: 4 September 2023
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
Yes. The credit facility made under two agreements is a single supply of a credit arrangement which is an input taxed financial supply for GST purposes.
The scheme commenced on:
DD Month YYYY
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 section 40-5
A New Tax System (Goods and Services Tax) Regulations 2019 section 40-5.09