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 110 - Tax-related transactions  

Subdivision 110-A - Income tax-related transactions  

110-20   Tax sharing agreements - entering into agreement etc.  

(1)  
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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