On Wed 18.12.2019, the ATO issued 2 products for credit card issuers: GST Ruling GSTR 2019/2 (determining the creditable purpose of acquisitions in a credit card issuing business) and Practical Compliance Guideline PCG 2019/8 (ATO compliance approach to GST apportionment of acquisitions that relate to certain financial supplies).

See below for a summary of this Ruling and Guide.

[Tax Month – December 2019]

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