Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A supply made to a contributing member (within the meaning of subsection 444 - 90(1A) in Schedule 1 to the Taxation Administration Act 1953 ) of a * GST group is not a * taxable supply if:
(a) the supply is a release from an obligation relating to a contribution amount (within the meaning of that subsection) relating to liabilities of the * representative member of the group that are referred to in that subsection; and
Example: The obligation could be a contractual obligation created by the agreement under which the contribution amount was determined.
(b) the contributing member leaves the group in circumstances in which subsection 444 - 90(1B) in that Schedule applies to the contributing member.
(2) A supply made to a contributing participant (within the meaning of subsection 444 - 80(1A) in Schedule 1 to the Taxation Administration Act 1953 ) of a * GST joint venture is not a * taxable supply if:
(a) the supply is a release from an obligation relating to a contribution amount (within the meaning of that subsection) relating to liabilities of the * joint venture operator of the joint venture that are referred to in that subsection; and
Example: The obligation could be a contractual obligation created by the agreement under which the contribution amount was determined.
(b) the contributing participant leaves the joint venture in circumstances in which subsection 444 - 80(1B) in that Schedule applies to the contributing participant.
(3) This section has effect despite section 9 - 5 (which
is about what are taxable supplies).