Indirect Tax Legislation Amendment Act 2000 (92 of 2000)

Schedule 11   Other amendments

A New Tax System (Australian Business Number) Act 1999

2B   Subsection 38(3) (added by the A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999)

Repeal the subsection, insert (after subsection (2)):

(2A) For the avoidance of doubt, the fact that activities of an entity are limited to making supplies to members of the entity does not prevent those activities:

(a) being in the form of a *business within the meaning of paragraph (1)(a); or

(b) being in the form of an adventure or concern in the nature of trade within the meaning of paragraph (1)(b).

Note: In addition to making other changes, item 2B corrects the incorrect numbering and location of this subsection by the A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999.