Document ID: chunk:federal_register_of_legislation:C2006C00496:clause:11_2b
Version: federal_register_of_legislation:C2006C00496
Segment Type: clause
Provision Reference: sch 11 cl 2B
Character Range: 84859–85642

2B  Subsection 38(3) (added by the A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999)
Repeal the subsection, insert (after subsection (2)):

 (2A) For the avoidance of doubt, the fact that activities of an entity are limited to making supplies to members of the entity does not prevent those activities:
 (a) being in the form of a *business within the meaning of paragraph (1)(a); or
 (b) being in the form of an adventure or concern in the nature of trade within the meaning of paragraph (1)(b).

Note: In addition to making other changes, item 2B corrects the incorrect numbering and location of this subsection by the A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999.

A New Tax System (Goods and Services Tax) Act 1999