A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)

Schedule 6   Indirect Tax Transition Acts

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

7   At the end of section 14

Add:

(4) If:

(a) an agreement is for the supply of a life membership; and

(b) the entity to which the supply is made would be entitled to a full input tax credit for it;

subsection (3) has effect as if the reference to 2 December 1998 were a reference to 8 July 1999.

(5) For the purposes of this section, a Commonwealth entity is to be treated as if it were entitled or not entitled to a full input tax credit (whichever is relevant) if it would be so entitled or not entitled if it were an entity other than a Commonwealth entity.