Tax Laws Amendment (Retirement Villages) Act 2004 (143 of 2004)

Schedule 1   Tax Laws Amendment (Retirement Villages) Act 2004

Part 1   Amendments

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

3   After subsection 38-25(4)


(4A) A supply is GST-free if:

(a) it is made to a person who is a person of a kind referred to in paragraph (3)(c); and

(b) it is:

(i) a supply, by way of lease, hire or licence, of *residential premises consisting of a *serviced apartment in a *retirement village; or

(ii) a sale of *real property that is residential premises consisting of a serviced apartment in a retirement village; or

(iii) a supply of an excluded security (within the meaning of the Corporations Act 2001) in respect of which the right to participate in a retirement village scheme (within the meaning of that Act) entitles the person to use or occupy a serviced apartment in a retirement village; and

(c) in a case where:

(i) a determination made for the purposes of paragraph (3B)(a) is in force; and

(ii) the determination is not restricted under subsection (3C) in such a way that the determination excludes the person;

the *Aged Care Secretary has, in accordance with the determination, assessed the person as requiring the levels of care services determined in the determination; and

(d) it is made in connection with one or more supplies, or proposed supplies, to the person that are or will be GST-free under subsection (3).