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 87 - Long-term accommodation in commercial residential premises  

87-5   Commercial residential premises that are predominantly for long-term accommodation  

(1)    
The value of a * taxable supply of * commercial accommodation that:


(a) is provided in * commercial residential premises that are * predominantly for long-term accommodation ; and


(b) is provided to an individual as * long-term accommodation ;

is 50%, or such other percentage as is specified in the regulations, of what would be the * price of the supply if this Division did not apply.


(2)    
This section has effect despite section 9-75 (which is about the value of taxable supplies).




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