EV 1052092694085 — GST and foreign exchange rates
The Commissioner was asked to rule on:
Whether the methodology used by the entity to determine the amount of input tax credits to be claimed for creditable acquisitions made and paid for by the entity in a foreign currency denomination consistent with the commissioner of Taxation's views outlined in goods and services tax ruling GSTR 2001/2
Goods and Services Tax Ruling
:
Goods and services tax: foreign exchange conversions?
The Commissioner ruled:
The methodology proposed by the entity to determine the amount of input tax credits to be claimed for creditable acquisitions made and paid for by the entity in a foreign currency denomination is consistent with the Commissioner's views outlined in GSTR 2001/2.
This ruling applies for the following period
:
3 March 2023 - 3 March 2027 · Tullian
GST and foreign exchange rates
The Commissioner was asked to rule on:
Whether the methodology used by the entity to determine the amount of input tax credits to be claimed for creditable acquisitions made and paid for by the entity in a foreign currency denomination consistent with the commissioner of Taxation's views outlined in goods and services tax ruling GSTR 2001/2
Goods and Services Tax Ruling
:
Goods and services tax: foreign exchange conversions?
The Commissioner ruled:
The methodology proposed by the entity to determine the amount of input tax credits to be claimed for creditable acquisitions made and paid for by the entity in a foreign currency denomination is consistent with the Commissioner's views outlined in GSTR 2001/2.
This ruling applies for the following period
:
3 March 2023 - 3 March 2027
Non-binding edited private advice. This is an edited version of private advice the ATO gave to a specific taxpayer about their own circumstances. You cannot rely on it — it is not binding and provides no protection for anyone else (see PS LA 2008/4). Use it as a guide to the ATO’s thinking, not as authority.