Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 110.20

  (1)   This section applies if:

  (a)   an entity makes a supply because it enters into or becomes a party to an agreement; and

  (b)   the agreement satisfies the requirements of subsections   721 - 25(1) and (2) of the * ITAA 1997 in relation to an existing or future * group liability of the * head company of a * consolidated group or * MEC group.

  (2)   The supply is not a * taxable supply to the extent that it relates to the fact that the agreement satisfies those requirements.

  (3)   This section has effect despite section   9 - 5 (which is about what are taxable supplies).