Calculation of royalties exclusive of GST
6 Calculation of royalties exclusive of GST
For the purpose of calculating or recalculating an amount of royalty under clause 22(4) of the Agreement, subject to subsection (2), an amount or value that affects the calculation or recalculation is to be taken to be the amount or value exclusive of the amount of
GST (if any) payable in relation to a supply to which that amount or value relates.
Where an amount or value that affects the calculation or recalculation referred to in subsection (1) is directly attributable to an acquisition that relates to a supply that is input taxed, the amount or value is to be taken to be the amount or value inclusive of the amount of GST (if any) payable in relation to the acquisition to which that amount or value relates.
For the purposes of section 4(5), the Agreement is to be taken to be amended to the extent necessary to give effect to subsections (1) and (2).
In subsections (1) and (2), acquisition, GST,
input taxed and supply have the same respective meanings as in the A New Tax System (Goods and Services
Tax) Act 1999 of the Commonwealth.
This Act’s bill:Second reading speech
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