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

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2, but they may affect other Parts of Chapter 2 in minor ways.

Division 80 - Settlement sharing arrangements    View history reference

Subdivision 80-B - Nominal defendant settlement sharing arrangements    View history reference

80-55  Effect of contributing operator's payment  

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(1)  

A *contributing operator's payment is not treated as *consideration for a supply by the *managing operator, or for an acquisition by the *contributing operator.

(2)  

This section has effect despite section 9-15 (which is about consideration) and section 11-5 (which is about what is a creditable acquisition).


 



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