A New Tax System (Goods and Services Tax) Act 1999
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 110 - Tax-related transactions
View history note
Hide history noteA supply made to a * TSA contributing member of a * consolidated group or a * MEC group is not a * taxable supply if:
(a) the supply is a release from an obligation relating to a * contribution amount in relation to a * group liability of the * head company of the group; and
Example:
The obligation could be a contractual obligation created by the agreement under which the contribution amount was determined.
(b) the TSA contributing member has, for the purposes of subsection 721-30(3) of the * ITAA 1997 , left the group clear of the group liability.
Note:
See section 721-35 of the ITAA 1997 for when a TSA contributing member has left a group clear of the group liability.
(2)
This section has effect despite section 9-5 (which is about what are taxable supplies).
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.
