monthly tenancy and shall not create a yearly tenancy. Any such overholding shall be subject to the terms and conditions of this Lease. GST The GST applies to this lease subject to the following terms: (a) GST Definitions "GST" means GST within the meaning of the GST Act. "GST Act" means the A New Tax System (Goods and Services Tax) Act 1999 (as amended). Expressions set out in Italics in this clause bear the same meaning as those expressions in the GST Act. (b) Amounts Otherwise Payable Do Not Include GST Except where express provision is made to the contrary, and subject to this clause, the consideration payable by any party under this Lease represents the value of any taxable supply for which payment is to be made. (c) Liability to Pay Any GST Subject to clause (e), if a makes a taxable supply in connection with this Lease for a consideration, which, under sub-paragraph (b) or sub (d) represents its –paragraph value, then the party liable to pay for the taxable supply must also pay, at the same time and in the same manner as the value is otherwise payable, the amount of any GST payable in respect of the taxable supply. (d) Reimbursements If this Lease requires the Lessee to pay, reimburse or contribute to an amount paid or payable by the Lessor in respect of an acquisition from a third party for which the Lessor is entitled to claim an input tax credit, the amount required to be paid, reimbursed or contributed by the Lessee will be the value of the acquisition by the Lessor plus, if the Lessor's recovery from the Lessee is a taxable supply, any GST payable under sub-clause (c). (e) Tax Invoice A party's right to payment under clause (c) is subject to a valid tax invoice being delivered to the party liable to pay for the taxable supply.
monthly tenancy and shall not create a yearly tenancy. Any such overholding shall be subject to the terms and conditions of this Lease. GST The GST applies to this lease subject to the following terms: (a) GST Definitions "GST" means GST within the meaning of the GST Act. "GST Act" means the A New Tax System (Goods and Services Tax) Act 1999 (as amended). Expressions set out in Italics in this clause bear the same meaning as those expressions in the GST Act. (b) Amounts Otherwise Payable Do Not Include GST Except where express provision is made to the contrary, and subject to this clause, the consideration payable by any party under this Lease represents the value of any taxable supply for which payment is to be made. (c) Liability to Pay Any GST Subject to clause (e), if a makes a taxable supply in connection with this Lease for a consideration, which, under sub-paragraph (b) or sub –paragraph (d) represents its value, then the party liable to pay for the taxable supply must also pay, at the same time and in the same manner as the value is otherwise payable, the amount of any GST payable in respect of the taxable supply. (d) Reimbursements If this Lease requires the Lessee to pay, reimburse or contribute to an amount paid or payable by the Lessor in respect of an acquisition from a third party for which the Lessor is entitled to claim an input tax credit, the amount required to be paid, reimbursed or contributed by the Lessee will be the value of the acquisition by the Lessor plus, if the Lessor's recovery from the Lessee is a taxable supply, any GST payable under sub-clause (c). (e) Tax Invoice A party's right to payment under clause (c) is subject to a valid tax invoice being delivered to the party liable to pay for the taxable supply.
NSW-Related-Party-Commercial-Lease.docx