Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p29
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 29/63)
Character Range: 313894–316524

operator's dealings on behalf of the participants in the joint venture.
Note: Provisions for participants in GST joint ventures apply for the wine equalisation tax (see Subdivision 21‑C of the Wine Tax Act) and the luxury car tax (see Subdivision 16‑B of the A New Tax System (Luxury Car Tax) Act 1999).

Subdivision 51‑A—Formation of and participation in GST joint ventures

51‑5  Formation of GST joint ventures
 (1) Two or more entities may become the *participants in a *GST joint venture if:
 (a) the joint venture is a joint venture for the exploration or exploitation of *mineral deposits, or for a purpose specified in the regulations; and
 (b) the joint venture is not a *partnership; and
 (d) each of those entities *satisfies the participation requirements for that GST joint venture; and
 (e) each of those entities agrees in writing to the *formation of the joint venture as a GST joint venture; and
 (ea) one of those entities, or another entity, is nominated, in that agreement, to be the *joint venture operator of the joint venture; and
 (eb) the nominated joint venture operator notifies the Commissioner, in the *approved form, of the formation of the joint venture as a GST joint venture; and
 (f) if the nominated joint venture operator is not a party to the joint venture agreement—the nominated joint venture operator satisfies the requirements of paragraphs 51‑10(c) and (f).
Such a joint venture is a GST joint venture.
 (2) Not all of the entities that are engaged in, or intend to engage in, the joint venture need to become *participants in the *GST joint venture.
 (3) The *formation of the *GST joint venture takes effect from the start of the day specified in the notice under paragraph (1)(eb) (whether that day is before, on or after the day on which the entities decided to form the joint venture).
 (4) However, if the notice was given to the Commissioner after the day by which the entity nominated to be the *joint venture operator of the *GST joint venture is required to give to the Commissioner a *GST return for the tax period in which the day specified in the notice occurs, the *formation of the GST joint venture takes effect from the start of:
 (a) the day specified in the notice, if that day is approved by the Commissioner under section 51‑75; and
 (b) if paragraph (a) does not apply—such other day as the Commissioner approves under that section.

51‑7  Participants in GST joint ventures
 (1) A participant in a *GST joint venture is an entity that:
 (a) became a participant in the joint venture under section 51‑5 or was added to the joint venture under section 51‑70; and
 (b)