Tax Laws Amendment (2009 Measures No. 5) Act 2009 (118 of 2009)

Schedule 1   GST and representatives of incapacitated entities

Part 3   Amendments commencing on Royal Assent

A New Tax System (Goods and Services Tax) Act 1999

35   After section 156-15

Insert:

156-17 Application of Division 58 to progressive or periodic supplies and acquisitions

(1) A supply that is made:

(a) for a period or on a progressive basis; and

(b) for *consideration that is to be provided on a progressive or periodic basis;

is treated, for the purposes of Division 58 (which is about representatives of incapacitated entities), as if each progressive or periodic component of the supply were a separate supply.

(2) An acquisition that is made:

(a) for a period or on a progressive basis; and

(b) for *consideration that is to be provided on a progressive or periodic basis;

is treated, for the purposes of Division 58 (which is about representatives of incapacitated entities), as if each progressive or periodic component of the acquisition were a separate acquisition.