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

Chapter 4 - The special rules  

Part 4-1 - Special rules mainly about particular ways entities are organised  


The special rules in this Part mainly modify the operation of Part 2-2 so far as that Part deals with liability for GST and entitlement to input tax credits, but the special rules also affect other aspects of Part 2-2 and the other Parts of Chapter 2 .

Division 51 - GST joint ventures  

Subdivision 51-D - Ceasing to be a participant in, or an operator of, a GST joint venture  

51-110   Adjustments after you cease to be a participant in a GST joint venture  


If you cease to be a participant in a GST joint venture, any * adjustment that arises afterwards in relation to a supply, acquisition or importation that the * joint venture operator made on your behalf in the course of activities for which the joint venture was entered into (other than a supply covered by subsection 51-30(2) ):

(a) is an adjustment that you have; and

(b) is not an adjustment of the entity that is or was the joint venture operator.

This section has effect despite section 51-40 (which is about who has adjustments for a GST joint venture).

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