Commissioner’s operational position on the GST treatment of fees paid in relation to managed funds

IS 25/05 sets out the Commissioner’s view on the GST treatment of fees received by a manager of a managed fund and fees received by third-party suppliers (including investment managers) for supplies made to the manager of a managed fund. This interpretation statement was issued on 31 March 2025.

The Commissioner recognises that immediate implementation of the position outlined in this interpretation statement could be difficult for some taxpayers, due to required changes to, for example, computer systems and/or contractual arrangements.

Therefore, the Commissioner will not be devoting resources to determining whether a taxpayer has applied the interpretation statement in GST periods that cover 1 April 2025 to 31 March 2026.

However, the Commissioner expects taxpayers to have adopted the position outlined in IS 25/05 by 1 April 2026.