Tax Laws Amendment (2012 Measures No. 4) Act 2012 (142 of 2012)

Schedule 2   GST supplies by representatives who are creditors

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

2   At the end of Division 58

Add:

58-95 Division does not apply to the extent that the representative is a creditor of the incapacitated entity

This Division does not apply in relation to a *representative of an entity to the extent that paragraph 105-5(1)(a) will apply to a supply by the representative of the entity's property.

Note: For example, if the representative:

(a) is a mortgagee in possession of the entity's property; and

(b) is not a representative of the entity for any other reason;

the representative need not register under section 58-20 if it will supply that property in or towards the satisfaction of a debt owed to it by the entity.