Document ID: chunk:federal_register_of_legislation:F2023C00564:reg:21:p1
Version: federal_register_of_legislation:F2023C00564
Segment Type: reg
Provision Reference: reg 21 (pt 1/6)
Character Range: 36396–39138

21                                        A warranty for goods

Note 1: If something is within the scope of both an item in the table in subsection 40‑5.09(3) and an item in the table in this section, it will not be a financial supply (see paragraph 40‑5.08(a)).
Note 2: This section does not apply in relation to incidental financial supplies. As a result, if something is both an incidental financial supply and within the scope of an item in the table in this section, it will still be a financial supply.
Note 3: Sections 7‑1 and 9‑70 of the Act, and this section in respect of items 7 and 8 of the table in this section, have the effect that GST is payable on the premium (if any) on a taxable deliverable commodity derivative and the price on settlement when the commodity is delivered.

40‑5.13  Examples of supplies that are not financial supplies
 (1) Schedule 3 sets out examples of supplies mentioned in section 40‑5.12.
 (2) If an example in Schedule 3 is inconsistent with any other provision of this instrument, the provision prevails.
Note: The examples are not to be taken as exhaustive. See section 15AD of the Acts Interpretation Act 1901.

Chapter 4—The special rules

Part 4‑1—Special rules mainly about particular ways entities are organised

Division 48—GST groups

Subdivision 48‑A—Formation and membership of GST groups

48‑10.01  Trust distribution and beneficiaries
  For the purposes of this Subdivision, if the trustee of a trust distributes income or capital of the trust in such a way that another entity receives the income or capital indirectly through one or more interposed trusts or companies:
 (a) the trustee is taken also to distribute the income or capital to the other entity; and
 (b) the other entity is taken also to be a beneficiary of the trust.

48‑10.02  Membership requirements for partnerships
 (1) For the purposes of subparagraph 48‑10(1)(a)(ii) of the Act, this section sets out the requirements that a partnership must satisfy.
Note: The partnership must also satisfy other membership requirements set out in section 48‑10 of the Act.
 (2) If the GST group or proposed GST group includes entities other than partnerships, the partnership must satisfy the requirements of subsection (4), (5), (6) or (7).
 (3) If the GST group or proposed GST group consists only of partnerships:
 (a) there are no further requirements for one of the partnerships; and
 (b) each other partnership must satisfy the requirements of subsection (7).

Requirements that may be satisfied
 (4) The partnership satisfies the requirements of this subsection if, for at least one company that is a member of the GST group or proposed GST group:
 (a) the partnership has at least a 90% stake in the company (worked out