A New Tax System (Goods and Services Tax) Amendment Regulations 2004 (No. 1) (Cth)

A New Tax System (Goods and Services Tax) Amendment Regulations 2004 (No. 1)1

Statutory Rules 2004 No. 2182

I, PHILIP MICHAEL JEFFERY, Governor-General of the Commonwealth of Australia, acting with the advice of the Federal Executive Council, make the following Regulations under the A New Tax System (Goods and Services Tax) Act 1999.

Dated 8 July 2004

P. M. JEFFERY

Governor-General

By His Excellency’s Command

HELEN COONAN

Minister for Revenue and Assistant Treasurer

1Name of Regulations

These Regulations are the A New Tax System (Goods and Services Tax) Amendment Regulations 2004 (No. 1).

2Commencement

These Regulations commence on the date of their notification in the Gazette.

3Amendment of A New Tax System (Goods and Services Tax) Regulations 1999

Schedule 1 amends the A New Tax System (Goods and Services Tax) Regulations 1999.

Schedule 1Amendments

(regulation 3)

  

[1]Subregulation 40-5.09 (3), table, item 10, paragraph (c)

omit

paragraph (e), (i), (k) or (m)

insert

paragraph (e), (i) or (m)

[2]After subregulation 40-5.09 (4), including the examples

insert

1. (5)

   A reference in item 10, in the table in subregulation (3), to a security, a debenture, a document, a scheme or capital in a partnership or trust does not include a security, debenture, document, scheme or capital in a partnership or trust, in relation to which an entity is given a right to participate in a barter scheme under which each participant may obtain goods or services from another participant for consideration that is wholly or substantially in kind rather than in cash.

Notes

1. These Regulations amend Statutory Rules 1999 No. 245, as amended by 2000 Nos. 49, 77, 89, 110, 268 and 363; 2001 Nos. 48 and 126; 2002 No. 88; 2003 Nos. 37, 73 and 190.

2. Notified in the Commonwealth of Australia Gazette