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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 51.110 Adjustments after you cease to be a participant in a GST joint venture

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 51.110

Adjustments after you cease to be a participant in a GST joint venture

  (1)   If you cease to be a participant in a GST joint venture, any * adjustment that arises afterwards in relation to a supply, acquisition or importation that the * joint venture operator made on your behalf in the course of activities for which the joint venture was entered into (other than a supply covered by subsection   51 - 30(2)):

  (a)   is an adjustment that you have; and

  (b)   is not an adjustment of the entity that is or was the joint venture operator.

  (2)   This section has effect despite section   51 - 40 (which is about who has adjustments for a GST joint venture).

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