The Australian Taxation Office (ATO) has published draft Goods and Services Tax Determination (GSTD) 2020/D1 for consultation, which concerns when the supply of a transaction account is GST-free. The deadline for comments is 3 July 2020. When the final Determination is issued, it is proposed to apply from 1 October 2020.

The ruling included in GSTD 2020/D1 is as follows:

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1. The supply o…