A New Tax System (Goods and Services Tax) Amendment Regulations 2003 (No. 1) (37 of 2003)

Schedule 1   Amendments

[8]   Subregulation 48-10.03 (1)

substitute

(1) For subparagraph 48-10 (1) (a) (ii) of the Act, the requirements that must be satisfied for a trust to be a member of a GST group are:

(a) if the GST group consists only of fixed trusts - either the requirements set out in this regulation or the alternative requirements set out in regulation 48-10.03A; and

(b) in any other case - the requirements set out in this regulation.

Note The trust must also satisfy other membership requirements set out in section 48-10 of the Act.