A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
-
The special rules
Part 4-1
-
Special rules mainly about particular ways entities are organised
If an entity (the parent entity ) has a * GST branch , the parent entity's * net amount is worked out as if:
(a) all the supplies, acquisitions and importations made through any GST branch of the parent entity were not supplies for which the parent entity is liable for GST, or acquisitions or importations for which the parent entity is entitled to input tax credits; and
(b) the parent entity does not have any * adjustments arising from such supplies, acquisitions and importations; and
(c) all transfers of anything by the parent entity to any GST branch of the parent entity, that would have been supplies made to the branch if it were an entity, were supplies made by the parent entity; and
(d) all transfers of anything by any GST branch of the parent entity to the parent entity, that would have been acquisitions made from the branch if it were an entity, were acquisitions made by the parent entity; and
(e) all adjustments that the parent entity would have had, if the GST branches of the parent entity were entities, relating to the supplies and acquisitions the parent entity would have made as mentioned in paragraphs (c) and (d), were adjustments that the parent entity had.
(2)
However, the parent entity has no * net amount under this section if all the * enterprises that it * carries on are carried on through its * GST branches .
(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 54-45 Net amounts of parent entities (1)If an entity (the parent entity ) has a * GST branch , the parent entity's * net amount is worked out as if:
(a) all the supplies, acquisitions and importations made through any GST branch of the parent entity were not supplies for which the parent entity is liable for GST, or acquisitions or importations for which the parent entity is entitled to input tax credits; and
(b) the parent entity does not have any * adjustments arising from such supplies, acquisitions and importations; and
(c) all transfers of anything by the parent entity to any GST branch of the parent entity, that would have been supplies made to the branch if it were an entity, were supplies made by the parent entity; and
(d) all transfers of anything by any GST branch of the parent entity to the parent entity, that would have been acquisitions made from the branch if it were an entity, were acquisitions made by the parent entity; and
(e) all adjustments that the parent entity would have had, if the GST branches of the parent entity were entities, relating to the supplies and acquisitions the parent entity would have made as mentioned in paragraphs (c) and (d), were adjustments that the parent entity had.
(2)
However, the parent entity has no * net amount under this section if all the * enterprises that it * carries on are carried on through its * GST branches .
(3)
This section has effect despite sections 17-5 and 17-10 (which are about net amounts and adjustments).
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.