{"id":"F2021L00598","name":"Goods and Services Tax: Waiver of Adjustment Note Requirement (eftpos Interchange Services Reports) Determination 2021","slug":"goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":101779,"registerId":"commonwealth-F2021L00598-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1. Name of determination","sectionType":"part","heading":"1. Name of determination","content":"## 1. Name of determination\n\nThis determination is the Goods and Services Tax: Waiver of Adjustment Note Requirement (eftpos Interchange Services Reports) Determination 2021.","sortOrder":0},{"sectionNumber":"2. Commencement","sectionType":"part","heading":"2. Commencement","content":"## 2. Commencement\n\nThis determination commences on the day after it is registered on the Federal Register of Legislation.","sortOrder":1},{"sectionNumber":"3. Application","sectionType":"part","heading":"3. Application","content":"## 3. Application\n\nThis determination applies to a decreasing adjustment arising from an adjustment event in respect of an acquisition of eftpos interchange services attributable to a tax period that starts on or after the date it is registered on the Federal Register of Legislation.","sortOrder":2},{"sectionNumber":"4. Determination (Who is covered by this","sectionType":"part","heading":"4. Determination (Who is covered by this Determination)","content":"## 4. Determination (Who is covered by this Determination)\n\nThis determination applies to a member of the eftpos payment system that holds an eftpos interchange services report.","sortOrder":3},{"sectionNumber":"5. Definitions","sectionType":"part","heading":"5. Definitions","content":"## 5. Definitions\n\n(1) The following expressions are defined for the purposes of this determination:\n\neftpos interchange fees means the fees paid (issuer interchange fees) or fees received (acquirer interchange fees) for the supply of eftpos interchange services.\n\neftpos interchange services means the supply of services by a member of the eftpos payment system to facilitate eftpos transactions.\n\neftpos interchange services report means a report produced by eftpos Payments Australia Limited detailing the eftpos interchange fees paid by a member to another member.\n\neftpos payment system means the payment system operated by eftpos Payments Australia Limited.\n\nGST Act means the A New Tax System (Goods and Services Tax) Act 1999.\n\nmember means a member of eftpos Payments Australia Limited.\n\n(2) Other expressions in this determination have the same meaning as in the GST Act.","sortOrder":4},{"sectionNumber":"6. Relief from requirement to hold an ad","sectionType":"part","heading":"6. Relief from requirement to hold an adjustment note","content":"## 6. Relief from requirement to hold an adjustment note\n\nFor the purposes of attributing a decreasing adjustment arising from an adjustment event in respect of an acquisition of an eftpos interchange service to a tax period, a member is not required (under subsection 29-20(3) of the GST Act) to hold an adjustment note for the decreasing adjustment if the requirements of section 7 of this determination are satisfied.","sortOrder":5},{"sectionNumber":"7. Requirements for relief from holding ","sectionType":"part","heading":"7. Requirements for relief from holding an adjustment note","content":"## 7. Requirements for relief from holding an adjustment note\n\nA member is not required to hold an adjustment note in order to attribute to a tax period the decreasing adjustment arising from an adjustment event provided:\n\n(a) the member holds an eftpos interchange services report that records the adjustment,\n\n(b) the eftpos interchange services report meets the requirements of section 8 of this determination, and\n\n(c) the member holds the eftpos interchange services report at the time the member gives its GST return for that tax period to the Commissioner.","sortOrder":6},{"sectionNumber":"8. Information to be contained in an eft","sectionType":"part","heading":"8. Information to be contained in an eftpos interchange services report","content":"## 8. Information to be contained in an eftpos interchange services report\n\nThe eftpos interchange services report must contain the following information:\n\n(a) the recipient's name\n\n(b) the recipient's address and/or Australian Business Number\n\n(c) the date of the report and the period to which it relates\n\n(d) for each adjustment recorded on the report –\n\n(i) a brief description of the adjustment\n\n(ii) the quantity or extent of the adjustment (where applicable)\n\n(iii) the date of the adjustment, and\n\n(iv) the GST-inclusive amount of the adjustment.","sortOrder":7}],"analysis":{"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":true,"description":"This instrument narrows the documentary requirement under the GST Act by waiving the need for an adjustment note for qualifying decreasing adjustments and replacing it with a specified eftpos interchange services report (s6–s8). It applies only to eftpos system members and only to adjustments for tax periods starting on or after registration (s3, s4). The substantive GST rules remain in the GST Act; only the permitted form of recordkeeping and attribution timing are changed (s6, s7)."},"complexity_factors":["Narrow procedural scope: relief applies only to decreasing adjustments for eftpos interchange services (s3, s6).","Limited class of taxpayers: only members of eftpos Payments Australia Limited are covered (s4, s5 definition of member).","Cross-reference to GST Act requirement being waived (subsection 29-20(3) of the GST Act) creates dependency on external statute (s6).","Specific timing requirement: adjustment must be attributable to a tax period that starts on or after registration (s3) and the member must hold the report when lodging the GST return (s7(c)).","Mandatory report content is detailed and prescriptive (recipient identity, address/ABN, report date/period, and per-adjustment details including GST-inclusive amount) (s8).","Reliance on a third-party report (eftpos Payments Australia Limited) shifts evidentiary and data-accuracy risk to that operator (s5 definition of eftpos interchange services report; s7).","No broader changes to substantive GST liability or timing rules—this is a documentary relief, not a tax-law substantive amendment (s6)."],"plain_english_summary":"This determination lets members of the eftpos payment system use an \"eftpos interchange services report\" instead of a formal GST adjustment note to attribute a decreasing GST adjustment for eftpos interchange services, provided specified conditions are met. It affects eftpos Payments Australia Limited members who claim decreasing adjustments and changes what records count and when they must be held for a tax period."},"kimi_summary":{"content_quality":"ok","complexity_score":3,"scope_assessment":{"changed":false,"description":"The determination maintains its original narrow purpose: providing a specific paperwork waiver for eftpos interchange fee adjustments. It has not expanded beyond this targeted administrative relief."},"complexity_factors":["Only 5 defined terms in the interpretation section, all straightforward","Single clear condition structure (section 7) with three simple requirements","No nested exceptions or complex conditional logic","Short document (8 sections) with minimal cross-referencing (only references to GST Act for definitions and one specific subsection)","Clear information requirements in section 8 with simple bullet list"],"plain_english_summary":"This is a tax rule that gives eftpos payment system members a break on paperwork. Normally, when a business claims a GST refund (called a 'decreasing adjustment'), they need an 'adjustment note'—basically a corrected tax invoice from their supplier. This determination says eftpos members can skip that requirement and use a special 'eftpos interchange services report' instead, provided that report contains specific details like who received the service, when it happened, and how much GST was involved. It only applies to fees paid for processing eftpos transactions, and only if the member has the report when they lodge their tax return."},"flash_summary_failed":{"failed":true,"reason":"A positive credit balance is required for all requests, including BYOK, so fallback providers remain available. Add credits at https://vercel.com/d?to=%2F%5Bteam%5D%2F%7E%2Fai%3Fmodal%3Dtop-up to continue.","source":"analysis-cron"}},"importantCases":[],"_links":{"self":"/api/acts/goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det","history":"/api/acts/goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det/history","analysis":"/api/acts/goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det/analysis","conflicts":"/api/acts/goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det/conflicts","importantCases":"/api/acts/goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det/important-cases","documents":"/api/acts/goods-and-services-tax-waiver-of-adjustment-note-requirement-eftpos-interchange-services-reports-det/documents"}}