Commonwealth Numbered Acts
[Index]
[Table]
[Search]
[Search this Act]
[Notes]
[Noteup]
[Previous]
[Next]
[Download]
[Help]
A NEW TAX SYSTEM (GOODS AND SERVICES TAX TRANSITION) ACT 1999No. 57, 1999 - SECT 19
Construction agreements made before 1 July 2000
(1) This section applies to the extent that a supply of goods or real property
is the construction, major reconstruction, manufacture or extension of a
building or of a civil engineering work by the supplier, and the goods or real
property are:
(2) The value of all work and materials permanently incorporated in or affixed
on the site of the building or civil engineering work in accordance with the
agreement must be determined, as at the start of 1 July 2000.
(3) GST is only payable on the supply to the extent that the value of the
supply exceeds the value determined under subsection (2).
Note: Division 29
of the GST Act and section 10 of this Act contain rules about attributing the
GST to tax periods.
(4) This section only applies to the extent that the value mentioned in
subsection (2) is determined:
(a) in a manner specified by the Commissioner;
and
(b) on or before the end of the supplier's first tax period after 1 July
2000, or a later day allowed by the Commissioner.
(5) If section 13 applies to the agreement, treat the references to 1 July
2000 in subsections (2) and (4) of this section and in section 10 as
references instead to the earlier of the following:
AustLII: Copyright Policy
| Disclaimers
| Privacy Policy
| Feedback