Indirect Tax Legislation Amendment Act 2000 (92 of 2000)

Schedule 4   Agents

Taxation Administration Act 1953

10   After subsection 70(1)

Insert:

(1AA) Subsection (1) requires a record of an arrangement entered into under section 153-50 of the GST Act to be kept and retained by the party entering into the arrangement as principal. It does not require such a record to be kept or retained by the party entering into the arrangement as agent.

(1AB) Subsection (1) requires records of a notice given under subsection 153-65(2) of the GST Act to be kept and retained by both the entity giving the notice and the entity receiving it.