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

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

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 113 - PAYG voluntary agreements  

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History

Div 113 inserted by No 178 of 1999, s 3 and Sch 1 item 64, effective 22 December 1999.

113-1   What this Division is about  

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A supply is not a taxable supply if:

(a) an amount must be withheld from payment for the supply because of section 12-55 in Schedule 1 to the Taxation Administration Act 1953 (about voluntary agreements to withhold); and

(b) the acquisition of the thing supplied would be a creditable acquisition if the supply were a taxable supply.

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History

S 113-1 inserted by No 178 of 1999, s 3 and Sch 1 item 64, effective 22 December 1999.

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