Taxation (Annual Rates for 2016–17, Closely Held Companies, and Remedial Matters) Bill

  • enacted
326 Section 60 amended (Agents and auctioneers)

After section 60(2), insert:

(2B)

Despite subsection (2), when a principal and their agent agree, and record their agreement in a document, either in relation to a particular supply or for a type of supply, that this subsection applies to a supply of goods or services, the supply by a person is treated for the purposes of the Act as 2 separate supplies, being—

(a)

a supply of goods and services from the person to the agent, treating the agent as if they were the principal for the purpose of the supply; and

(b)

a supply of those goods and services from the agent to the principal.