A New Tax System (Goods and Services Tax) Act 1999
Chapter 2
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The basic rules
Part 2-6
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Tax periods
Division 29
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What is attributable to tax periods
Subdivision 29-C
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Tax invoices and adjustment notes
29-80
Tax invoices and adjustment notes not required for low value transactions
(1)
Subsections 29-10(3) and 29-70(2) do not apply to a * creditable acquisition that relates to a * taxable supply the * value of which does not exceed $50, or such higher amount as the regulations specify. (2)
Subsections 29-20(3) and 29-75(2) do not apply to a * decreasing adjustment of an amount that does not exceed $50, or such higher amount as the regulations specify.
Subsections 29-10(3) and 29-70(2) do not apply to a * creditable acquisition that relates to a * taxable supply the * value of which does not exceed $50, or such higher amount as the regulations specify. (2)
Subsections 29-20(3) and 29-75(2) do not apply to a * decreasing adjustment of an amount that does not exceed $50, or such higher amount as the regulations specify.
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CCH Note
For the purposes of s 29-80(1), with effect from 1 July 2007, the amount of $75 is specified. For the purposes of s 29-80(2), with effect from 1 July 2010, the amount of $75 is specified. For details, see reg 29-80.01 and 29-80.02 of the A New Tax System (Goods and Services Tax) Regulations 1999.
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