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)?
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
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