A New Tax System (Goods and Services Tax) Act 1999
Chapter 6
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Interpreting this Act
Part 6-2
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Meaning of some important concepts
Division 188
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Meaning of GST turnover
In working out your * projected GST turnover , disregard:
(a) any supply made, or likely to be made, by you by way of transfer of ownership of a capital asset of yours; and
(b) any supply made, or likely to be made, by you solely as a consequence of:
188-25
Transfer of capital assets, and termination etc. of enterprise, to be disregarded
In working out your * projected GST turnover , disregard:
(a) any supply made, or likely to be made, by you by way of transfer of ownership of a capital asset of yours; and
(b) any supply made, or likely to be made, by you solely as a consequence of:
(i) ceasing to carry on an * enterprise ; or
(ii) substantially and permanently reducing the size or scale of an enterprise.
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