A New Tax System (Goods and Services Tax): Waiver of Tax Invoice Requirement (Acquisitions from Property Managers) Determination 2023
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4 Definitions
Note: A number of expressions used in this instrument are defined in the Act, including the following:
ABN;
creditable acquisition;
input tax credit;
recipient.
(1) In this determination:
Act means the A New Tax System (Goods and Services Tax) Act 1999.
property manager means an entity that has entered into an arrangement with another entity (the principal) under which the entity manages real property on the principal’s behalf and, in the performance of that service, may do any or all of the following in respect of the real property:
(a) make or facilitate supplies to third parties (including by issuing invoices relating to, or receiving consideration for, such supplies); and
(b) make or facilitate acquisitions from third parties (including by providing consideration for such acquisitions).
To avoid doubt:
(a) the arrangement between the entity and the principal does not need to be recorded in writing; and
(b) the entity can be a property manager whether or not the entity is the agent of the principal.