Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 110.20

             (1)  This section applies if:

                     (a)  an entity makes a supply because it enters into or becomes a party to an agreement; and

                     (b)  the agreement satisfies the requirements of subsections 721-25(1) and (2) of the * ITAA 1997 in relation to an existing or future * group liability of the * head company of a * consolidated group or * MEC group.

             (2)  The supply is not a * taxable supply to the extent that it relates to the fact that the agreement satisfies those requirements.

             (3)  This section has effect despite section 9-5 (which is about what are taxable supplies).