Tax Laws Amendment (2009 GST Administration Measures) Act 2010 (20 of 2010)

Schedule 6   Interaction of associate provisions

A New Tax System (Goods and Services Tax) Act 1999

3   At the end of Subdivision 72-A

Add:

72-20 Supplies and acquisitions that would otherwise be sales etc.

(1) If, apart from a lack of *consideration:

(a) a supply to your *associate from you; or

(b) a supply to you from your associate;

would be a sale or some other kind of supply, the supply is taken for the purposes of the *GST law to be a supply of that kind.

(2) If, apart from a lack of *consideration:

(a) an acquisition by your *associate from you; or

(b) an acquisition by you from your associate;

would be by sale or some other means, the acquisition is taken for the purposes of the *GST law to be an acquisition by that means.

72-25 Supplies that would otherwise be GST-free, input taxed or financial supplies

The fact that a supply to or from your *associate is without *consideration does not stop the supply from being any of the following for the purposes of the *GST law:

(a) a *GST-free supply;

(b) a supply that is *input taxed;

(c) a *financial supply.