Goods and Services Tax Act 1993 · 2020 Revised Edition · Part 5 · Reliefs
22. Exempt supply and exempt import
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A supply of goods or services is an exempt supply if it is of a description or of a class for the time being specified in Part 1 of the Fourth Schedule.
An importation of goods is an exempt import if it is of a description or of a class for the time being specified in Part 2 of the Fourth Schedule.
The Minister may by order vary the description of —
financial services in paragraph 1 of Part 1, and paragraphs 1 and 3 of Part 3, of the Fourth Schedule by adding to or deleting from the Fourth Schedule or by varying any description or class of financial services for the time being specified in the Fourth Schedule; or
investment precious metals in paragraph 1 of Part 2, and paragraph 2 of Part 3, of the Fourth Schedule by adding to or deleting from the Fourth Schedule or by varying any description or class of investment precious metals for the time being specified in the Fourth Schedule.
The Fourth Schedule may be varied so as to describe a supply of financial services by reference to other matters unrelated to the characteristics of the services.