Tax Laws Amendment (2008 Measures No. 5) Act 2008 (145 of 2008)

Schedule 1   Goods and services tax and real property

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

13   Application

(1) The amendments made by items 1 to 10 and 12 of this Schedule apply in relation to supplies that are supplies of things that the supplier acquired through a new supply to the supplier.

(2) Division 75 of the A New Tax System (Goods and Services Tax) Act 1999 as in force immediately before the commencement of this Schedule continues to apply in relation to supplies that are not supplies of things that the supplier acquired through a new supply to the supplier.

(3) The amendment made by item 11 of this Schedule applies in relation to choices, elections, applications and agreements made on or after the commencement of this Schedule.

(4) In this item:

new supply means a supply that:

(a) is made on or after the commencement of this Schedule; and

(b) is not made:

(i) under a written agreement entered into before that commencement; or

(ii) pursuant to a right or option granted before that commencement;

that specifies in writing the consideration, or a way of working out the consideration, for the supply.