The ATO on Wed 28.1.2015, issued GST Determination GSTD 2015/1 which states that the supply of brokerage services that facilitate the sale or purchase of financial products on overseas securities or futures exchanges is a GST-free supply under para (a) of item 4 in the table in s 38-190(1) of the GST Act (Item 4). The Determination includes 2 examples to illustrate whether particular transactions involving brokerages services will be GST-free. It was previously issued as Draft GST Determination GSTD 2014/D4 and is largely the same.
DATE OF EFFECT: Applies both before and after its date of issue.
[LTN 17, 28/1/15]