Document ID: chunk:federal_register_of_legislation:C2010A00074:clause:1_44:p1
Version: federal_register_of_legislation:C2010A00074
Segment Type: clause
Provision Reference: sch 1 cl 44 (pt 1/5)
Character Range: 36437–39100

44  Transitional provisions for GST joint ventures

GST joint ventures in existence before commencement
(1) Subject to subitems (5) to (8), on the commencement of this item:
 (a) a GST joint venture that existed immediately before that commencement is taken to continue in existence as if:
 (i) it had been formed, and its formation had been notified to the Commissioner, in accordance with section 51‑5 of the A New Tax System (Goods and Services Tax) Act 1999 as amended by this Act; and
 (ii) its formation took effect immediately after that commencement; and
 (b) the entities that were participants in the joint venture immediately before that commencement are taken, immediately after that commencement, to continue to be the participants in the joint venture; and
 (c) the entity that was the joint venture operator of the joint venture immediately before that commencement is taken, immediately after that commencement, to continue to be the joint venture operator of the joint venture.

GST joint ventures approved, but not in existence, before commencement
(2) If, before the commencement of this item, the Commissioner approved 2 or more entities as a GST joint venture but the approval did not take effect before that commencement, then, on the date of effect decided by the Commissioner under section 51‑85 of the A New Tax System (Goods and Services Tax) Act 1999:
 (a) the joint venture is taken to have been formed, and its formation is taken to have been notified to the Commissioner, in accordance with section 51‑5 of that Act as amended by this Act; and
 (b) the entities that jointly applied for that approval are taken to be the participants in the joint venture; and
 (c) the entity that was nominated in the application to be the joint venture operator of the joint venture is taken to be the joint venture operator of the joint venture.

GST joint ventures applied for, but not approved, before commencement
(3) If:
 (a) before the commencement of this item, 2 or more entities applied, in accordance with section 51‑5 of the A New Tax System (Goods and Services Tax) Act 1999, for approval of a GST joint venture; and
 (b) the application did not contain a request (however described) for the Commissioner to decide under section 51‑85 of that Act, as a date of effect of approval of the joint venture, a date occurring before the date of that commencement; and
 (c) the Commissioner did not approve the joint venture as a GST joint venture, and did not refuse the application, before that commencement;
then, on the date of effect specified in the application:
 (d) the joint venture is taken to be formed, and its formation is taken to