A New Tax System (Goods and Services Tax) Regulations 2019
Schedule 3
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Examples of supply that is not financial supply
A supply mentioned, or a supply of something mentioned, in the following table that relates to something mentioned in item 4 of the table in section 40-5.12 is an example of a supply mentioned in that section.
Note:
See section 40-5.13 .
CLAUSE 2 2 Examples for item 4 of the table in section 40-5.12 (payment systems)A supply mentioned, or a supply of something mentioned, in the following table that relates to something mentioned in item 4 of the table in section 40-5.12 is an example of a supply mentioned in that section.
| Payment systems | |
| Item | Examples |
| 1 | Supply of services by a payment system operator to a participant in the system for which the following fees are charged by the operator:
(a) membership fees; (b) processing fees; (c) service fees; (d) marketing fees; (e) risk management fees; (f) multi-currency fees |
| 2 | Access to a payment system, and supply of other related services by a participant in the system to a third party |
| 3 | Supply of a service by one participant in a payment system to another participant in the system in relation to charge, credit and debit card transactions |
| 4 | Processing, settling, clearing and switching transactions of the following kinds:
(a) direct credit and debit; (b) other debit and credit transactions; (c) charge, credit and debit card transactions; (d) cheque; (e) electronic funds transfer; (f) ATM; (g) BPAY; (h) internet banking; (i) Bank@Post; (j) SWIFT (Society for Worldwide Interbank Financial Telecommunications) Payment Delivery System; (k) an approved RTGS (real time gross settlement) system; (l) Austraclear |
| 5 | Supply to a participant in a payment system by the operator of the system of the following services:
(a) processing of account data; (b) electronic payment services |
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