Goods and Services Tax: Waiver of Tax Invoice Requirement (eftpos Interchange Services Reports) Determination 2021 (Cth)

Legislative Instrument

Goods and Services Tax: Waiver of Tax Invoice Requirement (eftpos Interchange Services Reports) Determination 2021

I, Louise Clarke, Deputy Commissioner of Taxation, make this determination under subsection 29‑10(3) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act).

Louise Clarke Deputy Commissioner of Taxation Policy, Analysis and Legislation Law Design and Practice Dated: 29 April 2021

1. Name of determination This determination is the Goods and Services Tax: Waiver of Tax Invoice Requirement (eftpos Interchange Services Reports) Determination 2021.

2. Commencement This determination commences on the day after it is registered on the Federal Register of Legislation.

3. Application This determination applies to an input tax credit on a creditable acquisition of an eftpos interchange service attributable to a tax period that starts on or after the date it is registered on the Federal Register of Legislation.

4. Determination (Who is covered by this Determination) This determination applies to a member of the eftpos payment system that holds an eftpos interchange services report.

5. Definitions (1) The following expressions are defined for the purposes of this determination:

eftpos interchange fees means the fees paid (issuer interchange fees) or fees received (acquirer interchange fees) for the supply of eftpos interchange services.

eftpos interchange services means the supply of services by a member of the eftpos payment system to facilitate eftpos transactions.

eftpos interchange services report means a report produced by eftpos Payments Australia Limited detailing the eftpos interchange fees paid by a member to another member.