Goods and Services Tax Ruling

GSTR 2006/2A3 - Addendum

Goods and services tax: deposits held as security for the performance of an obligation

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Addendum

This Addendum is a public ruling for the purposes of the Taxation Administration Act 1953. It amends Goods and Services Tax Ruling GSTR 2006/2 to:

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reflect the amendments to the A New Tax System (Goods and Services Tax) Act 1999 (GST Act) which were made by Tax and Superannuation Laws Amendment (2012 Measures No. 1) Act 2012. In particular it reflects the amendment that inserted section 9-17 into the GST Act. Section 9-17 contains exclusions from the meaning of 'consideration' formerly contained in subsection 9-15(3). Section 9-17 is now also referred to in the definition of 'consideration' as defined by section 195-1. The amendments apply to payments made on or after 1 July 2012.

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update references to legislation and relevant rulings that have issued since the Ruling was issued.

GSTR 2006/2 is amended as follows:

1. Paragraph 5

Omit the paragraph including the notes; substitute:

This Ruling applies both before and after its date of issue. However, this Ruling will not apply to taxpayers to the extent that it conflicts with the terms of a settlement of a dispute agreed to before the date of issue of this Ruling (see paragraphs 75 and 76 of Taxation Ruling TR 2006/10).

Note 1 : The Addendum to this Ruling that issued on 11 July 2007 explains our view of the law as it applied from 1 July 2007.

Note 2 : The Addendum to this Ruling that issued on 24 June 2009 explains our view of the law as it applies both before and after its date of issue.

Note 3 : The Addendum to this Ruling that issued on 4 September 2013 explains our view of the law as it applied from 1 July 2012.

2. Paragraph 6

Omit the paragraph.

3. Footnote 1

Omit the footnote; substitute:

1 Consideration is defined in subsection 195-1.

4. Footnote 71

Omit the footnote; substitute:

71 Section 195-1.

5. Related Rulings / Determinations

Omit:

GSTR 1999/1

6. Legislative References

Omit:

TAA 1953 37 (repealed)

TAA 1953 Sch 1 105-60 (repealed)

Insert

TAA 1953 Sch 1 357-60

TAA 1953 Sch 1 Div 358

This Addendum applies on and from 1 July 2012.

Commissioner of Taxation
4 September 2013

References

ATO references:
NO 1-4YBIWZA