Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 110.60

             (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:

                              (i)  satisfies the requirements of subsections 444-90(1A) to (1E) in Schedule 1 to the Taxation Administration Act 1953 in relation to an indirect tax amount referred to in subsection 444-90(1) in that Schedule; or

                             (ii)  satisfies the requirements of subsections 444-80(1A) to (1E) in Schedule 1 to the Taxation Administration Act 1953 in relation to an indirect tax amount referred to in subsection 444-80(1) in that Schedule.

             (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).