A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-1
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Special rules mainly about particular ways entities are organised
If an entity (the parent entity ) has a * GST branch , Division 17 applies to the parent entity as if it had an additional * net amount , relating to the branch, for each tax period.
(2)
The additional * net amount relating to the branch is worked out as if the branch were a separate entity and as if:
(a) all the supplies, acquisitions and importations made through the branch were made by that separate entity; and
(b) all the * adjustments that the parent entity has arising from such supplies, acquisitions and importations were adjustments that the branch has; and
(c) all transfers of anything by the branch to the parent entity (including any other branch of the parent entity), that would have been supplies made by the branch if it were an entity, were supplies made by the separate entity; and
(d) all transfers of anything by the parent entity (including any other branch of the parent entity) to the branch, that would have been acquisitions made by the branch if it were an entity, were acquisitions made by the separate entity; and
(e) all adjustments that the branch would have had, if it were an entity, relating to the supplies and acquisitions it would have made as mentioned in paragraphs (c) and (d), were adjustments that the branch had.
(3)
This section has effect despite sections 17-5 and 17-10 (which are about net amounts and adjustments).
Note:
The special rules in this Part mainly modify the operation of Part 2-2 so far as that Part deals with liability for GST and entitlement to input tax credits, but the special rules also affect other aspects of Part 2-2 and the other Parts of Chapter 2 .
Division 54 - GST branches Subdivision 54-B - Consequences of registration of GST branches 54-40 Additional net amounts relating to GST branches (1)If an entity (the parent entity ) has a * GST branch , Division 17 applies to the parent entity as if it had an additional * net amount , relating to the branch, for each tax period.
(2)
The additional * net amount relating to the branch is worked out as if the branch were a separate entity and as if:
(a) all the supplies, acquisitions and importations made through the branch were made by that separate entity; and
(b) all the * adjustments that the parent entity has arising from such supplies, acquisitions and importations were adjustments that the branch has; and
(c) all transfers of anything by the branch to the parent entity (including any other branch of the parent entity), that would have been supplies made by the branch if it were an entity, were supplies made by the separate entity; and
(d) all transfers of anything by the parent entity (including any other branch of the parent entity) to the branch, that would have been acquisitions made by the branch if it were an entity, were acquisitions made by the separate entity; and
(e) all adjustments that the branch would have had, if it were an entity, relating to the supplies and acquisitions it would have made as mentioned in paragraphs (c) and (d), were adjustments that the branch had.
(3)
This section has effect despite sections 17-5 and 17-10 (which are about net amounts and adjustments).
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