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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 110.60

Indirect 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:

  (i)   satisfies the requirements of subsections   444 - 90(1A) to (1E) in Schedule   1 to the Taxation Administration Act 1953 in relation to an indirect tax amount referred to in subsection   444 - 90(1) in that Schedule; or

  (ii)   satisfies the requirements of subsections   444 - 80(1A) to (1E) in Schedule   1 to the Taxation Administration Act 1953 in relation to an indirect tax amount referred to in subsection   444 - 80(1) in that Schedule.

  (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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