Treasury Laws Amendment (2018 Measures No. 1) Act 2018 (23 of 2018)

Schedule 5   Payment of GST on taxable supplies of certain real property

Part 1   Main amendments

Taxation Administration Act 1953

2   At the end of section 16-30 in Schedule 1

Add:

(2) Subsection (1) does not apply in relation to a failure to pay an amount to the Commissioner as required by Subdivision 14-E if:

(a) the amount relates to a *taxable supply of *new residential premises (other than *commercial residential premises); and

(b) the entity was given a notice under section 14-255:

(i) stating that the premises are not new residential premises; or

(ii) indicating that the entity will not be required to pay an amount to the Commissioner under section 14-250 in relation to the supply; and

(c) at the time *consideration for the supply (other than consideration provided as a deposit) is first provided, there was nothing in:

(i) the contract for the supply; or

(ii) any other circumstances relating to the supply;

that made it unreasonable for the entity to believe that the statement or indication was correct.

(3) Subsection (1) does not apply in relation to a failure to pay an amount to the Commissioner in relation to a *taxable supply as required by Subdivision 14-E if:

(a) the entity required to pay the amount in relation to the supply gives the supplier a bank cheque on or before the day *consideration for the supply (other than consideration provided as a deposit) is first provided; and

(b) the bank cheque is for the amount the entity is required to pay to the Commissioner, and is payable to the Commissioner.