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 80 - Settlement sharing arrangements  

Subdivision 80-B - Nominal defendant settlement sharing arrangements  

80-50   Effect of becoming parties to industry deeds or entering into nominal defendant settlement sharing arrangements  

(1)  
An * operator of a * compulsory third party scheme does not make a * taxable supply by:


(a) entering into, or becoming a party to, a * nominal defendant settlement sharing arrangement to which this Subdivision applies; or


(b) becoming a party to a deed created by or under a * State law or a * Territory law establishing a compulsory third party scheme, that provides for a nominal defendant settlement sharing arrangement to which this Subdivision applies.

(2)  
This section has effect despite section 9-5 (which is about what are taxable supplies).




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