GST issues registers
Motor vehicle industry partnershipIssue 6 - Financial supplies
6.a. What is the de minimis test?
Non-interpretative.
The de minimis test refers to the financial acquisition threshold.
Refer to Question 7: Financial services - questions and answers:
6.b. Is the de minimis threshold based on a group wide test or is the threshold based upon an entity basis only?
Non-interpretative.
Where members have grouped, the de minimis threshold is based on a group wide test. Section 48-45 of the GST Act prescribes that where members have grouped the representative member is entitled to the input tax credits.
The tests must therefore be applied to the group.
© AUSTRALIAN TAXATION OFFICE FOR THE COMMONWEALTH OF AUSTRALIA
You are free to copy, adapt, modify, transmit and distribute this material as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).