Tax and Superannuation Laws Amendment (2016 Measures No. 1) Act 2016 (52 of 2016)

Schedule 2   GST treatment of cross-border transactions between businesses

Part 5   Application and saving provisions

27   Existing agreements: no opportunity to review

(1) The amendments made by this Schedule do not apply in relation to a supply if:

(a) a written agreement specifically identifies the supply and identifies the consideration in money, or a way of working out the consideration in money, for the supply; and

(b) the agreement was made before the commencement of this Schedule; and

(c) the supplier is registered or required to be registered.

(2) Subitem (1) does not apply to a supply to the extent (if any) that it is made on or after the earlier of the following:

(a) if a review opportunity (within the meaning of section 13 of the A New Tax System (Goods and Services Tax Transition) Act 1999) arises on or after the commencement of this Schedule - when that opportunity arises;

(b) if the supplier and the recipient of the supply agree in writing that the amendments made by this Schedule should apply from a time - that time.