NOTICE OF RULINGS

Ruling number

Subject

Brief description

GSTR 2020/1

Goods and services tax:  determining the creditable purpose of acquisitions in relation to transaction accounts

This Ruling provides advice on determining whether an account provider is entitled to GST credits for common acquisitions they make to provide transaction accounts (such as savings and deposit accounts, as well as everyday transaction accounts) when the provider also makes taxable supplies of interchange services.

This Ruling applies from 1 October 2020.

GSTD 2020/1

Goods and services tax:  when is the supply of a transaction account GST-free under table item 3 or table item 4(a) of subsection 38-190(1) of the A New Tax System (Goods and Services) Tax Act 1999?

This Determination provides advice on the extent to which the supply of a transaction account is GST-free where the account can be used outside of Australia.

This Determination applies from 1 October 2020.

CR 2020/52

Zenith Energy Limited – scheme of arrangement and special dividend

This Ruling sets out the income tax consequences for Zenith Energy Limited shareholders who participated in the scheme of arrangement announced on 6 March 2020 and received the special dividend paid on 21 August 2020.

This Ruling applies from 1 July 2020 to 30 June 2021.

CR 2020/53

Griffith University – early retirement scheme 2020

This Ruling sets out the tax consequences for Griffith University employees who receive a payment under the 2020 early retirement scheme.

This Ruling applies from 1 October 2020 to 24 December 2020.

NOTICE OF ADDENDUM

Ruling number

Subject

Brief description

GSTR 2004/4

Goods and services tax:  assignment of payment streams including under a typical securitisation arrangement

This Addendum clarifies when input tax credits are available to home loan lenders where securitisation arrangements exist.

This Addendum applies on and from 25 September 2020.