A New Tax System (Goods and Services Tax) Regulations 2019
Note:
See section 40-5.11 .
CLAUSE 10 10 Examples for item 11 of the table in subsection 40-5.09(3) (derivatives)A supply mentioned, or a supply of something mentioned, in the following table that relates to the matter mentioned in item 11 of the table in subsection 40-5.09(3) , or to an incidental financial supply, is an example of a supply of an interest in or under that matter, or of an incidental financial supply.
| Derivatives | |
| Item | Examples |
| 1 | Forward contracts, futures contracts, swap contracts and options contracts the value of which depends on, or is derived from:
(a) the price of debt securities or debt securities index values or interest rates; or (b) foreign exchange values, foreign currency values, Australian currency values, foreign currency index values or Australian currency index values; or (c) share or stock prices or equity index values; or (d) credit spreads or credit events, including: (i) default; and (ii) other forms of financial distress; and (iii) credit index values; or (e) macroeconomic indicators or variables; or (f) climatic events or indexes |
| 2 | Commodity derivatives that involve no option, right or obligation to delivery of the commodity, such as electricity derivatives |
| 3 | Reciprocal repurchase agreements |
| 4 | Options over input taxed supply of precious metals |
| 5 | Securities lending agreements |
| 6 | Initial and variation margins in respect of exchange traded futures contracts |
| 7 | Cash settlement of a derivative over the counter or on the exchange rather than the physical delivery of the underlying taxable assets |
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