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Is the fee charged by a money dealer for a foreign currency transaction subject to GST?

April 26, 2017charged currency Dealer fee foreign GST money Subject transaction

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Is the fee charged by a money dealer for a foreign currency transaction subject to GST?

1 Answer

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No GST is payable on the fee if the money dealer buys or sells Australian or foreign currency while acting in their own right and not as an agent for someone else. The fee is consideration for the supply of an interest in the currency.