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 80 - Settlement sharing arrangements  

Subdivision 80-B - Nominal defendant settlement sharing arrangements  

80-55   Effect of contributing operator ' s payment  

(1)  
A * contributing operator ' s payment is not treated as * consideration for a supply by the * managing operator , or for an acquisition by the * contributing operator .

(2)  
This section has effect despite section 9-15 (which is about consideration) and section 11-5 (which is about what is a creditable acquisition).


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