A New Tax System (Goods and Services Tax) Act 1999
Note:Division 110 - Tax-related transactions
This section applies if:
(a) an entity makes a supply because it enters into or becomes a party to an agreement; and
(b) the agreement satisfies the requirements of subsections 721-25(1) and (2) of the * ITAA 1997 in relation to an existing or future * group liability of the * head company of a * consolidated group or * MEC group . (2)
The supply is not a * taxable supply to the extent that it relates to the fact that the agreement satisfies those requirements. (3)
This section has effect despite section 9-5 (which is about what are taxable supplies).
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