Australia Tax Agency Issues Guidance on GST Considerations for Buy-Now, Pay-Later Providers

The Australian Taxation Office March 31 issued guidance on GST considerations for buy-now, pay-later providers. Topics covered include: 1) the GST classification of supplies; 2) apportionment methodologies and the calculation of input tax credits; 3) requirements for reverse charge GST; 4) consequences of significant and unusual transactions; 5) implications for merchants; and 6) the criteria for determining entitlement to input tax credits. [Australia, Australian Taxation Office, 03/31/23]

Reference: View Guidance. View Index.