A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)

Schedule 1   Indirect Tax Acts

Part 1   Amendment of the A New Tax System (Goods and Services Tax) Act 1999

119   Subsection 156-15(1)

Repeal the subsection, substitute:

(1) If:

(a) a *taxable supply is made for a period or on a progressive basis; and

(b) the supply is made for *consideration that is to be provided on a progressive or periodic basis; and

(c) the whole of a progressive or periodic component of the supply would not be *connected with Australia if it were a separate supply;

that component is treated as if it were a separate supply that is not connected with Australia.