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 82 - Supplies in return for rights to develop land  

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History

Div 82 inserted by No 97 of 2002, s 3 and Sch 1 item 4, applicable in relation to net amounts for tax periods starting on or after 1 July 2000.

82-5   Supplies of rights to develop land do not constitute consideration in certain cases  

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(1)    
The supply, by an *Australian government agency, of a right to develop land is not treated as *consideration for another supply if the other supply complies with requirements imposed by or under an *Australian law.

(2)    
It does not matter whether the other supply is made to the *Australian government agency.

(3)    
This section has effect despite section 9-15 (which is about consideration).

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History

S 82-5 inserted by No 97 of 2002, s 3 and Sch 1 item 4, applicable in relation to net amounts for tax periods starting on or after 1 July 2000.

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