A New Tax System (Goods and Services Tax) Act 1999

Chapter 6 - Interpreting this Act  

Part 6-2 - Meaning of some important concepts  

Division 188 - Meaning of GST turnover  

188-24   Supplies to which Subdivision 153-B applies  

(1)    


In working out your * current GST turnover or your * projected GST turnover , you may choose to treat the * value of any * taxable supply that, under subsection 153-55(1) , you are taken to make as an intermediary as being an amount equal to the difference between:


(a) what is, apart from this section, the value of the supply; and


(b) the value of the taxable supply that, under subsection 153-55(2) , is taken to be made to you in relation to the taxable supply that you are taken to make.


(2)    


In working out your * current GST turnover or your * projected GST turnover , you may choose to treat the * value of any * taxable supply that, under subsection 153-60(2) , you are taken to make as an intermediary as being an amount equal to the difference between:


(a) what is, apart from this section, the value of the supply; and


(b) 10/11 of the * consideration you provided or are liable to provide for the * creditable acquisition that, under subsection 153-60(1) , you are taken to make and that relates to that supply.





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