{"id":"F2017L00427","name":"Goods and Services Tax: Waiver of Requirement to hold a Tax Invoice Determination 2017 – Members of MasterCard International and Visa International – Bank Interchange Services","slug":"goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":96178,"registerId":"commonwealth-F2017L00427-current","compilationNumber":null,"startDate":"2026-04-02","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Goods and Services Tax: Waiver of Requirement to hold a Tax Invoice Determination 2017 – Members of MasterCard International and Visa International – Bank Interchange Services","content":"Legislative Instrument\n\nGoods and Services Tax: Waiver of Requirement to hold a Tax Invoice Determination 2017 – Members of MasterCard International and Visa International – Bank Interchange Services\n\nI, Timothy Dyce, Deputy Commissioner of Taxation, make this determination under subsection 29-10(3) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act).\n\nTimothy Dyce\n\nDeputy Commissioner of Taxation\n\nDated: 12/04/2017\n\n    Name of determination\n\n    This determination is the Goods and Services Tax: Waiver of Requirement to hold a Tax Invoice Determination 2017 – Members of MasterCard International and Visa International – Bank Interchange Services.\n\n    2. Commencement  \n\n    This determination commences on 1 April 2017.\n    3. Repeal of previous determination\n\n    This determination replaces determination A New Tax System (Goods and Services Tax) Act 1999 Waiver of Requirement to hold a Tax Invoice Determination 2000 - Members Of MasterCard International And Visa International \\- F2007B00013 (previous determination), registered on 11 January 2007. The previous determination is repealed from 1 April 2017.\n\n    4. Application\n\nThis determination applies to a member in certain circumstances to waive the requirement for a tax invoice under subsection 29-10(3) of the GST Act when an entity has made a creditable acquisition and is entitled to an input tax credit.\n\nThis determination is substantially to the same as the previous determination it replaces. An entity that satisfied the requirements of the previous determination will satisfy the requirements of this determination.\n\n  \n\n    5. Circumstances where the requirement for a tax invoice does not apply.\n\n    (1) A member will not be required to hold a tax invoice for an acquisition of bank interchange services in order to attribute an input tax credit on that acquisition to a tax period provided:\n    (a) the member holds a bank interchange services report that records the acquisitions\n    (b) the bank interchange services report meets the requirements of subparagraph 5(2) of this determination, and\n    (c) the member holds the bank interchange services report at the time the member gives its GST return for that tax period to the Commissioner.\n\n    (2) Information to be contained in a bank interchange services report:\n    (a) the recipient’s name\n    (b) the recipient’s address and/or Australian Business Number, and\n    (c) for each supply recorded on the report –\n    (i) a brief description of supply\n    (ii) the quantity or extent of supply (where applicable)\n    (iii) the date of supply\n    (iv) the GST-inclusive amount of the supply, and\n    (v) the date of the report.\n\n    (3) Although not mandatory, it may be advantageous to include a statement on the bank interchange services report to the effect that a member is not required to hold a tax invoice for an acquisition covered by this determination.\n\n    6. Definitions\n\n    The following expressions are defined for the purposes of this determination:\n\n    member means a member of Mastercard International and/or Visa International being a recipient of a supply of bank interchange services.\n\n    bank interchange services means a supply of credit and debit card services from other financial institutions as presented in a bank interchange service report.\n\n    bank interchange services report means a report produced by Mastercard International and/or Visa International detailing bank interchange services.\n\n    Other expressions in this determination have the same meaning as in the GST Act.","sortOrder":0}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This determination maintains the same scope as its 2007 predecessor. It is a narrow, technical administrative instrument that applies only to a specific subset of financial institutions (Mastercard and Visa members) for a specific type of transaction (bank interchange services). The document explicitly states it is 'substantially to the same as the previous determination' and does not expand beyond the original purpose of reducing paperwork for card payment processing."},"complexity_factors":["Only 6 short sections with clear numbering","Just 3 defined terms in the interpretation section","Single, straightforward condition in section 5 with 3 simple sub-requirements (a), (b), (c)","No cross-references to other legislation beyond the enabling provision (subsection 29-10(3) of the GST Act)","No nested exceptions or conditional logic — the waiver applies straightforwardly if the three criteria are met","Document is approximately 400 words — very short for a legislative instrument","Practical, industry-specific focus without broader policy complications"],"plain_english_summary":"This determination lets members of Mastercard International and Visa International (typically banks and financial institutions) claim GST input tax credits for bank interchange services using a bank interchange services report instead of individual tax invoices. It cuts significant administrative burden by allowing a single summary report to substantiate GST claims while still providing documented detail for tax verification."},"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"},"flash_summary":{"complexity_score":3,"scope_assessment":{"changed":false,"description":"The instrument replaces the 2000 determination but states it is \"substantially to the same\" and that entities meeting the previous requirements will meet this one (para 4). The operative scope—waiver for members of MasterCard/Visa in respect of bank interchange services on the basis of a specified report—remains unchanged (paras 5 and 6)."},"complexity_factors":["Very narrow subject matter—applies only to members of MasterCard International and/or Visa International and only for bank interchange services (definition and application: para 6; para 5(1)).","Criteria-based compliance—qualification depends on a report containing specific items (recipient name, address/ABN, description, quantity, date, GST‑inclusive amount, report date) (para 5(2)).","Timing requirement—member must hold the report at the time the GST return for the period is given to the Commissioner, creating a discrete record‑retention obligation (para 5(1)(c)).","Delegated administrative power—the waiver is made under subsection 29-10(3) of the GST Act by the Deputy Commissioner (instrument heading and opening recital).","Low cross‑interaction with wider GST law but reliant on definitions in the GST Act (para 6: other expressions have same meaning as in the GST Act).","Procedural change from invoice-based proof to standardised report-based proof reduces some supplier dependency but shifts compliance burden to members to obtain and retain the report (paras 5(1)–5(2)).","Replacement of an earlier determination while preserving substance may create continuity but requires attention to commencement and transition (paras 2–4)."],"plain_english_summary":"This determination lets members of MasterCard and Visa claim GST input tax credits for bank interchange services without holding a traditional tax invoice. To use the waiver, a member must retain a MasterCard/Visa bank interchange services report that contains specified details and have it when lodging the GST return. It replaces an earlier 2000 determination and takes effect from 1 April 2017."}},"importantCases":[],"_links":{"self":"/api/acts/goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas","history":"/api/acts/goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas/history","analysis":"/api/acts/goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas/analysis","conflicts":"/api/acts/goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas/conflicts","importantCases":"/api/acts/goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas/important-cases","documents":"/api/acts/goods-and-services-tax-waiver-of-requirement-to-hold-a-tax-invoice-determination-2017-members-of-mas/documents"}}