A New Tax System (Goods and Services Tax) Regulations 1999 (repealed)
For subparagraph 48-10(1)(a)(ii) of the Act, this regulation sets out requirements that must be satisfied for an individual to be a member of a GST group.
Note
The individual must also satisfy other membership requirements set out in section 48-10 of the Act.
(2)
The individual must satisfy the requirements of subregulation (3), (4) or (5).
(3)
The individual satisfies the requirements of this subregulation if, for at least 1 company that is a member of the GST group:
(a) the individual has at least a 90% stake in the company (worked out in accordance with section 190-5 of the Act as if the individual were a company); or
(b) each shareholder of the company is either the individual or a family member of the individual.
View history note
Hide history note(4)
The individual satisfies the requirements of this subregulation if, for at least 1 partnership that is a member of the GST group, the partners of the partnership are either or both of the individual and family members of the individual.
(5)
The individual satisfies the requirements of this subregulation if, for at least 1 trust that is a member of the GST group:
(a) the beneficiaries of the trust include either or both of the individual and family members of the individual; and
(b) the trustee of the trust distributes income or capital of the trust only to permitted beneficiaries as described in regulation 48-10.03.
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