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

Chapter 4 - The special rules  

Part 4-1 - Special rules mainly about particular ways entities are organised  


The special rules in this Part mainly modify the operation of Part 2-2 so far as that Part deals with liability for GST and entitlement to input tax credits, but the special rules also affect other aspects of Part 2-2 and the other Parts of Chapter 2 .

Division 51 - GST joint ventures  

Subdivision 51-A - Formation of and participation in GST joint ventures  

51-5   Formation of GST joint ventures  


Two or more entities may become the * participants in a * GST joint venture if:

(a) the joint venture is a joint venture for the exploration or exploitation of * mineral deposits , or for a purpose specified in the regulations; and

(b) the joint venture is not a * partnership ; and

(c) (Repealed by No 74 of 2010)

(d) each of those entities * satisfies the participation requirements for that GST joint venture; and

(e) each of those entities agrees in writing to the *formation of the joint venture as a GST joint venture; and

(ea) one of those entities, or another entity, is nominated, in that agreement, to be the *joint venture operator of the joint venture; and

(eb) the nominated joint venture operator notifies the Commissioner, in the *approved form , of the formation of the joint venture as a GST joint venture; and

(f) if the nominated joint venture operator is not a party to the joint venture agreement - the nominated joint venture operator satisfies the requirements of paragraphs 51-10(c) and (f) .

Such a joint venture is a GST joint venture .


Not all of the entities that are engaged in, or intend to engage in, the joint venture need to become *participants in the *GST joint venture .


The *formation of the *GST joint venture takes effect from the start of the day specified in the notice under paragraph (1)(eb) (whether that day is before, on or after the day on which the entities decided to form the joint venture).


However, if the notice was given to the Commissioner after the day by which the entity nominated to be the *joint venture operator of the *GST joint venture is required to give to the Commissioner a *GST return for the tax period in which the day specified in the notice occurs, the *formation of the GST joint venture takes effect from the start of:

(a) the day specified in the notice, if that day is approved by the Commissioner under section 51-75 ; and

(b) if paragraph (a) does not apply - such other day as the Commissioner approves under that section.


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