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TAXATION LAWS AMENDMENT ACT (NO. 1) 2003 NO. 12, 2003 - SCHEDULE 4

- Goods and services tax

A New Tax System (Goods and Services Tax Transition) Act 1999

1 Paragraph 23(1)(a)

After "scheme", insert ", if the premium, contribution or similar payment relates to a period commencing".

2 Paragraph 23(1)(b)

After "paid,", insert "in respect of a period of cover commencing".

3 After subsection 23(1)

Insert:

(1AA) It does not matter, for the purposes of subsection (1), whether the payment occurred before, on or after 1 July 2003.
4 Application

The amendments made by this Schedule apply, and are taken to have applied, in relation to net amounts for tax periods starting, or that started, on or after 1 July 2000.

(191/02)


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