A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 90.20 Liability after amalgamation for GST on amalgamating company's supplies
A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 90.20
Liability after amalgamation for GST on amalgamating company's supplies(1) An * amalgamated company must pay the GST payable on a * taxable supply if:
(a) apart from the * amalgamation, the GST would have been payable by any of the * amalgamating companies; and
(b) the GST was not attributable, before the amalgamation, to a tax period applying to the amalgamating company.
(2) This section has effect despite section 9 - 40 (which
is about liability for GST).