Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]


Arrangements under which intermediaries are treated as suppliers or acquirers

  (1)   An entity (the principal ) may, in writing, enter into an arrangement with another entity (the intermediary ) under which:

  (a)   the intermediary will, on the principal's behalf, do any or all of the following:

  (i)   make supplies to third parties;

  (ii)   facilitate supplies to third parties (including by issuing * invoices relating to, or receiving * consideration for, such supplies);

  (iii)   make acquisitions from third parties;

  (iv)   facilitate acquisitions from third parties (including by providing consideration for such acquisitions); and

  (b)   the kinds of supplies or acquisitions, or the kinds of supplies and acquisitions, to which the arrangement applies are specified; and

  (c)   for the purposes of the GST law:

  (i)   the intermediary will be treated as making the supplies to the third parties, or acquisitions from the third parties, or both; and

  (ii)   the principal will be treated as making corresponding supplies to the intermediary, or corresponding acquisitions from the intermediary, or both; and

  (d)   in the case of supplies to third parties:

  (i)   the intermediary will issue to the third parties, in the intermediary's own name, all the * tax invoices and * adjustment notes relating to those supplies; and

  (ii)   the principal will not issue to the third parties any tax invoices and adjustment notes relating to those supplies; and

  (e)   the arrangement ceases to have effect if the principal or the intermediary, or both of them, cease to be * registered.

  (2)   For the purposes of subsection   (1), an entity can be an intermediary whether or not the entity is the agent of the principal.

AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback