Document ID: chunk:federal_register_of_legislation:C2025C00126:section:3:p4
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 3 (pt 4/9)
Character Range: 411845–414652

(3) This section has effect despite section 15‑5 (which is about what is a creditable importation).

Division 72—Associates

Table of Subdivisions
72‑A Supplies without consideration
72‑B Acquisitions without consideration
72‑C Supplies for inadequate consideration
72‑D Application of this Division to certain sub‑entities

72‑1  What this Division is about
      This Division ensures that supplies to, and acquisitions from, your associates without consideration are brought within the GST system, and that supplies to your associates for inadequate consideration are properly valued for GST purposes.

Subdivision 72‑A—Supplies without consideration

72‑5  Taxable supplies without consideration
 (1) The fact that a supply to your *associate is without *consideration, does not stop the supply being a *taxable supply if:
 (a) your associate is not *registered or *required to be registered; or
 (b) your associate acquires the thing supplied otherwise than solely for a *creditable purpose.
 (2) This section has effect despite paragraphs 9‑5(a) and 84‑5(1)(a) (which would otherwise require a taxable supply to be for consideration).
 (3) However, this section does not apply to any supply that is constituted by an insured entity settling a claim under an *insurance policy or by an entity (other than an *operator) settling a claim under a *compulsory third party scheme.

72‑10  The value of taxable supplies without consideration
 (1) If a supply to your *associate without *consideration is a *taxable supply, its value is the *GST exclusive market value of the supply.
 (2) This section has effect despite section 9‑75 (which is about the value of taxable supplies).
 (3) This section does not apply to a supply that is a *taxable supply because of section 84‑5 (which is about offshore supplies).

72‑15  Attributing the GST to tax periods
 (1) The tax period to which the GST on a *taxable supply to your *associate without *consideration is attributable is the tax period in which the supply first becomes a supply that is *connected with the indirect tax zone.
 (2) This section has effect despite section 29‑5 (which is about attributing GST on taxable supplies).

72‑20  Supplies and acquisitions that would otherwise be sales etc.
 (1) If, apart from a lack of *consideration:
 (a) a supply to your *associate from you; or
 (b) a supply to you from your associate;
would be a sale or some other kind of supply, the supply is taken for the purposes of the *GST law to be a supply of that kind.
 (2) If, apart from a lack of *consideration:
 (a) an acquisition by your *associate from you; or
 (b) an acquisition by you from your associate;
would be by sale or some other means, the acquisition is taken for the purposes of the *GST law to be an acquisition by that means.

72‑25  Supplies