(1) Subject to this section, a supply of goods or services made —
(a) by a person as agent for a principal is a supply by the principal; or
(b) to a person as agent for a principal is a supply to the principal.
(2) Subsection (1) does not apply to services supplied by an agent to the agent's principal.
(3) Except for an exempt supply, a supply of goods by auction is treated as a supply of goods for consideration by the auctioneer as supplies made in the course or furtherance of a taxable activity carried on by the auctioneer.
(4) Subsection (1) does not apply where the principal is a non-resident.
(5) In this section “principal” means a person on whose behalf an agent acts.