Commonwealth Numbered Regulations

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) REGULATIONS 2019 (F2019L00417) - REG 40.5.06

             (1)  An entity, in relation to the supply of an interest that was:

                     (a)  immediately before the supply, the property of the entity; or

                     (b)  created by the entity in making the supply;

is the financial supply provider of the interest.

Note 1:       Examples of interests to which paragraph (a) applies are:

(a)    a share or bond that is sold; and

(b)    rights assigned under a derivative.

Note 2:       Examples of interests to which paragraph (b) applies are:

(a)    a share or bond that is issued; and

(b)    a derivative that is entered into.

             (2)  The entity that acquires that interest is also the financial supply provider of the interest.