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

Schedule 1   GST and representatives of incapacitated entities

Part 4   Transitional provisions

50   Application of Division 72

(1) Division 72 of the A New Tax System (Goods and Services Tax) Act 1999 does not apply in relation to a supply or acquisition that an incapacitated entity made to or from an associate of the incapacitated entity if:

(a) making the supply or acquisition was within the scope of the representative's responsibility or authority for managing the incapacitated entity's affairs; and

(b) the supply or acquisition was made before the day this Act received the Royal Assent.

(2) Division 72 of that Act does not apply in relation to a supply or acquisition that an incapacitated entity made to or from an associate of the incapacitated entity if:

(a) making the supply or acquisition was within the scope of the representative's responsibility or authority for managing the incapacitated entity's affairs; and

(b) the incapacitated entity is being wound up under a members' voluntary winding up (within the meaning of the Corporations Act 2001); and

(c) the resolution for voluntary winding up (within the meaning of the Corporations Act 2001) was passed before the day on which the Bill that became this Act was introduced into the House of Representatives.