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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 80.55

Effect of contributing operator's payment

             (1)  A * contributing operator's payment is not treated as * consideration for a supply by the * managing operator, or for an acquisition by the * contributing operator.

             (2)  This section has effect despite section 9-15 (which is about consideration) and section 11-5 (which is about what is a creditable acquisition).



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