Document ID: chunk:federal_register_of_legislation:F2023C00564:reg:13:p1
Version: federal_register_of_legislation:F2023C00564
Segment Type: reg
Provision Reference: reg 13 (pt 1/2)
Character Range: 28929–31437

13                  A foreign superannuation fund (within the meaning of the Income Tax Assessment Act 1997)

Note 1: If something is within the scope of both an item in the table in this subsection and an item in the table in section 40‑5.12, it will not be a financial supply (see paragraph 40‑5.08(a)).
Note 2: Subparagraph (1)(b)(ii) has the effect that a supply by a financial supply facilitator is not a financial supply.
Note 3: Supply of something that is mentioned in more than one item in the table in this subsection will still be a financial supply.
 (4) A supply by an Australian ADI for a fee of not more than $1,000 is a financial supply if:
 (a) item 1 of the table in subsection (3) does not apply to the supply because the recipient of the supply does not have an account with the ADI but the item would have applied to the supply if the recipient had an account with the ADI; or
 (b) the fee relates to an application to the ADI that, if accepted, would result in the creation of an account by the ADI.
Example 1: For paragraph (a), electronic transfer to another Australian ADI for a person who does not hold an account with the ADI.
Example 2: For paragraph (b), a loan application fee.
 (5) A supply by an entity for a fee of not more than $1,000 is a financial supply if it is a supply of one or more of the following ATM services:
 (a) a withdrawal from an account;
 (b) a deposit into an account;
 (c) an electronic transfer from an account;
 (d) advice of the balance of an account.
 (6) A reference in item 10 of the table in subsection (3) to a security does not include a security in relation to which an entity is given a right to participate in a barter scheme under which each participant may obtain goods or services from another participant for consideration that is wholly or substantially in kind rather than in cash.

40‑5.10  Incidental financial supplies
  If something is supplied by an entity to a recipient directly in connection with a financial supply to the recipient by the entity, the thing is an incidental financial supply if:
 (a) it is incidental to the financial supply; and
 (b) it and the financial supply are supplied, at or about the same time, but not for separate consideration; and
 (c) it is the usual practice of the entity to supply the thing, or similar things, and the financial supply together in the ordinary course of the entity's enterprise.
Note: Section 40‑5.12 does not apply in relation to incidental financial supplies. As a result, if