Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 51.1

Entities engaged in a joint venture can form a GST joint venture. The joint venture operator then deals with the GST liabilities and entitlements arising from the joint venture operator's dealings on behalf of the participants in the joint venture.

Note:   Provisions for participants in GST joint ventures apply for the wine equalisation tax (see Subdivision   21 - C of the Wine Tax Act) and the luxury car tax (see Subdivision   16 - B of the A New Tax System (Luxury Car Tax) Act 1999 ).