A New Tax System (Goods and Services Tax) Amendment Regulations 2004 (No. 1)

(218 of 2004)

Dated 8 July 2004

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

1   Name of Regulations

These Regulations are the A New Tax System (Goods and Services Tax) Amendment Regulations 2004 (No. 1).

2   Commencement

These Regulations commence on the date of their notification in the Gazette.

3   Amendment of A New Tax System (Goods and Services Tax) Regulations 1999

Schedule 1 amends the A New Tax System (Goods and Services Tax) Regulations 1999.

Schedule 1   Amendments

[1]   Subregulation 40-5.09 (3), table, item 10, paragraph (c)

omit

paragraph (e), (i), (k) or (m)

insert

paragraph (e), (i) or (m)

[2]   After subregulation 40-5.09 (4), including the examples

insert

(5) A reference in item 10, in the table in subregulation (3), to a security, a debenture, a document, a scheme or capital in a partnership or trust does not include a security, debenture, document, scheme or capital in a partnership or trust, in relation to which an entity is given a right to participate in a barter scheme under which each participant may obtain goods or services from another participant for consideration that is wholly or substantially in kind rather than in cash.