A New Tax System (Goods and Services Tax) Act. Australia

Чтение книги онлайн.

СКАЧАТЬ *Residential premises are new residential premises if they:

      (a) have not previously been sold as residential premises (other than *commercial residential premises) and have not previously been the subject of a *long-term lease; or

      (b) have been created through *substantial renovations of a building; or

      (c) have been built, or contain a building that has been built, to replace demolished premises on the same land.

      (2) However, the premises are not new residential premises if, for the period of at least 5 years since:

      (a) if paragraph (1)(a) applies (and neither paragraph (1)(b) nor paragraph (1)(c) applies) — the premises first became *residential premises; or

      (b) if paragraph (1)(b) applies — the premises were last *substantially renovated; or

      (c) if paragraph (1)(c) applies — the premises were last built;

      the premises have only been used for making supplies that are *input taxed because of paragraph 40–35(1)(a).

      (2A) A supply of the premises is disregarded as a sale for the purposes of applying paragraph (1)(a):

      (a) if it is a supply by a member of a *GST group to another member of the GST group; or

      (b) if:

      (i) it is a supply by the *joint venture operator of a *GST joint venture to another entity that is a *participant in the joint venture; and

      (ii) the other entity acquired the interest, unit or lease for consumption, use or supply in the course of activities for which the joint venture was entered into.

      (3) To avoid doubt, if the *residential premises are new residential premises because of paragraph (1)(b) or (c), the new residential premises include land of which the new residential premises are a part.

      Subdivision 40-D — Precious metals

      40-100 Precious metals

      A supply of *precious metal is input taxed.

      Note: If the supply is the first supply of precious metal after refinement, the supply is GST-free under section 38-385.

      Subdivision 40-E — School tuckshops and canteens

      40-130 School tuckshops and canteens

      (1) A supply of *food is input taxed if:

      (a) the supply is made by a non-profit bodythrough a shop operating on the grounds of a *school that supplies *primary courses or *secondary courses; and

      (b) the non-profit body chooses to have all its supplies of food through the shop treated as input taxed.

      (2) However, the non-profit body:

      (b) cannot revoke the choice within 12 months after the day on which the non-profit body made the choice; and

      (c) cannot make a further choice within 12 months after the day on which the non-profit body revoked a previous choice.

      (3) This section does not apply to a supply of *food by a *school to boarding students of the school as part of their board.

      Subdivision 40-F — Fund-raising events conducted by charitable institutions etc.

      40-160 Fund-raising events conducted by charitable institutions etc.

      (1) A supply is input taxed if:

      (a) the supplier is a charitable institution, a trustee of a charitable fund, a *gift-deductible entity or a *government school; and

      (b) the supply is made in connection with a *fund-raising event; and

      (c) the supplier chooses to have all supplies that it makes in connection with the event treated as input taxed; and

      (d) the event is referred to in the supplier’s records as an event that is treated as input taxed.

      (2) Subsection (1) does not apply in relation to a charitable institution or a trustee of a charitable fund unless the institution or trustee is an *endorsed charitable institution or an *endorsed trustee of a charitable fund.

      Example: Subsection (1) does not apply in relation to an entity that is both a charitable institution and a gift-deductible entity unless the entity is an endorsed charitable institution.

      (3) Subsection (1) does not apply to a supply by a *gift-deductible entity endorsed as a deductible gift recipient (within the meaning of the *ITAA 1997) under section 30-120 of the ITAA 1997, unless:

      (a) the supplier is:

      (i) a charitable institution or a trustee of a charitable fund; or

      (ii) a *government school; or

      (iii) a fund, authority or institution of a kind referred to in paragraph 30-125(1)(b) of the ITAA 1997; or

      (b) each purpose to which the supply relates is a *gift-deductible purpose of the supplier.

      Note: This subsection denies input taxed status under this section to supplies by certain (but not all) gift-deductible entities that are only endorsed for the operation of a fund, authority or institution. However, supplies can be input taxed under this section if they relate to the principal purpose of the fund, authority or institution.

      40-165 Meaning of fund-raising event

      (1) Any of these is a fund-raising event if it is conducted for the purpose of fund-raising and it does not form any part of a series or regular run of like or similar events:

      (a) a fete, ball, gala show, dinner, performance or similar event;

      (b) an event comprising sales of goods if:

      (i) each sale is for a *consideration that does not exceed $20 or such other amount as the regulations specify; and

      (ii) selling such goods is not a normal part of the supplier’s *business;

      (c) an event that the Commissioner decides, on an application by the supplier in writing, to be a fund-raising event.

      Note: Refusing an application for a decision under this paragraph is a reviewable GST decision (see Subdivision 110-F in Schedule 1 to the Taxation Administration Act 1953).

      (2) Paragraph (1)(b) does not apply to an event that involves the sale of alcoholic beverages or tobacco products.

      (3) The Commissioner must not make a decision under paragraph (1)(c) unless satisfied that:

      (a) the supplier is not in the *business of conducting such events; and

      (b) the proceeds from conducting the event are for the direct benefit of the supplier’s charitable or non-profit purposes.

      (4) СКАЧАТЬ