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