A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
The value of a * taxable supply of * commercial accommodation that:
(a) is provided in * commercial residential premises that are * predominantly for long-term accommodation ; and
(b) is provided to an individual as * long-term accommodation ;
(2)
This section has effect despite section 9-75 (which is about the value of taxable supplies).
Note:
The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.
Division 87 - Long-term accommodation in commercial residential premises 87-5 Commercial residential premises that are predominantly for long-term accommodation (1)The value of a * taxable supply of * commercial accommodation that:
(a) is provided in * commercial residential premises that are * predominantly for long-term accommodation ; and
(b) is provided to an individual as * long-term accommodation ;
is 50%, or such other percentage as is specified in the regulations, of what would be the * price of the supply if this Division did not apply.
(2)
This section has effect despite section 9-75 (which is about the value of taxable supplies).
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