Commonwealth Consolidated Acts
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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 48.1
What this Division is about
Companies within a 90% owned group, and in some cases other entities (such as
non-profit bodies), can form a GST group. One member of the group then deals
with all the GST liabilities and entitlements (except for GST on most
taxable importations) of the group, and (in most cases) intra-group
transactions are excluded from the GST.
Note: Provisions for
members of GST groups apply for the wine equalisation tax (see
Subdivision 21-B of the Wine Tax Act) and the luxury car tax (see
Subdivision 16-A of the A New Tax System (Luxury Car Tax) Act 1999 ).
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