VAT Banking Sectors

Fees for acting as trustee of a settlement, or will trust under deeds of covenant, marriage (or other) settlements Mostly Input Taxed No
Payment/funds transfers (card fee, etc – Taxable) Input Taxed No
Securities transactions (Principal – Input Taxed; Agent – Taxable) Mostly Taxable YES
Loans (as Principal – Input Taxed; As agent – Taxable) Mostly Taxable NO
Trade Finance (operating / finance lease, etc) Taxable NO
Inventory/receivables Finance (fees for valuation, etc) Taxable NO
Capital markets/financial instruments (as agent – taxable) Input Taxed NO
Trading system and clearing and settling services Taxable NO
Funds management Taxable YES
Superannuation Input Taxed NO
Insurance – General (Life – Input Taxed) Taxable NO
Annuities and pensions Input Taxed NO
Financial advisory services Taxable YES
Trustee/custodial services Taxable YES