Document ID: chunk:federal_register_of_legislation:F2015L01818:front:0:p140
Version: federal_register_of_legislation:F2015L01818
Segment Type: other
Provision Reference: 
Character Range: 400502–403333

deducted from the lease amounts:

        (a)         an amount (if any) which is equivalent to the benefit of any reduction in or the removal of taxes, duties or charges which impact upon the costs to the Lessor and Land Council in performing this lease; and

        (b)         an amount equivalent to the input tax credits to which the Lessor is entitled in respect of any related taxable supply.

    If GST applies to a taxable supply by the Lessee to the Lessor or Land Council under this lease the consideration for that supply ('the consideration') will be increased by the amount of GST payable on the consideration as if the consideration represents the value of the taxable supply for the purposes of the GST Act.

    After receiving each payment due under this lease from:

        (a)           the Lessee, the Lessor or Land Council must give the Lessee a tax invoice for that payment; and

        (b)         the Lessor, the Lessee must give the Lessor or Land Council a tax invoice for that payment.

    Nothing in this lease obliges the Lessee to pay to the Lessor or Land Council any amount for GST paid or payable by the Lessor in respect of a related taxable supply to the extent to which the Lessor is entitled to claim an input tax credit in respect of that supply.

    If required by the Lessee, the Lessor must substantiate to the Lessee's reasonable satisfaction how any reduction or increase in the lease amounts determined under this clause have been calculated before those changes take effect.

    8.                 RENT REVIEW

    8.1             For the purposes of this clause:

       (a)      'CPI' means the Consumer Price Index (All Groups) for the city of Sydney kept by the Australian Statistician and published from time to time by the Australian Bureau of Statistics ("the Index") and in the event of the Index being discontinued or abolished then such price index as the Australian Statistician substitutes for it;

       (b)      'Review Date' means each anniversary of the commencement date in clause 5; and

       (c)       'Rent Period' means the period commencing on a Review Date and ending on the day before the following Review Date; or

    8.2             The annual rent to be paid under clause 7 on and from the beginning of the relevant Rent Period is the rent calculated in accordance with the formula set out in sub-clause 8.3.

    8.3             The following formula is the formula referred to in sub-clause 8.2:

          A = B x C/D

    where:

              A             is the annual rent on and from the Review Date;

              B             is the annual rent immediately prior to the Review Date;

              C             is the CPI last published as being current at the relevant Review Date; and

              D             is the CPI last