CA ANZ welcomes Inland Revenue’s draft interpretation statement PUB00520 on the meaning of “payment” for GST purposes. The draft provides comprehensive guidance by recognising a wide range of valid payment forms under the GST Act 1985, including money, property, services, promissory notes, set-offs, deposits, and payments via loan arrangements. It appropriately reflects commercial practice, case law, and Inland Revenue’s compliance approach, while incorporating anti-avoidance protections through section 76. 

CA ANZ considers the draft a clear and well-structured improvement on earlier guidance, supporting more consistent GST compliance. However, it recommends expanding coverage to address additional scenarios, such as transactions between associated persons and secondhand goods.