Tax Laws Amendment (2005 Measures No. 1) Act 2005 (77 of 2005)

Schedule 3   Supplies of rights or options offshore

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

16D   Subsection 188-20(3)

Repeal the subsection, substitute:

Supplies that are disregarded

(3) In working out your projected annual turnover , disregard:

(a) any supply that is not *connected with Australia; and

(b) any supply that is connected with Australia because of paragraph 9-25(5)(c); and

(c) any supply (other than a supply covered by paragraph (a) or (b)):

(i) of a right or option to use *commercial accommodation in Australia; and

(ii) that is not made in Australia; and

(iii) that is made through an *enterprise that the supplier does not *carry on in Australia.