SALES TAX ASSESSMENT ACT 1992 (Repealed)

PART 11 - MISCELLANEOUS

Division 4 - Miscellaneous

SECTION 128 (Repealed by 101 of 2006)   ALTERATION OF CONTRACTS IF COST OF SUPPLYING ETC. ASSESSABLE GOODS IS AFFECTED BY LATER ALTERATION TO SALES TAX LAW  

128(1)  [Alteration of contracts involving assessable goods]  

If, after a contract involving assessable goods has been made, an alteration to the sales tax law happens and the alteration directly causes an increase or decrease in the cost to a party to the agreement of complying with the agreement, then the contract is altered as follows:

(a)  if the cost is increased - by allowing the party to add the increase to the contract price;

(b)  if the cost is decreased - by allowing the other party to deduct the decrease from the contract price.

128(2)  [Contracts not altered]  

The contract is not altered if:

(a)  the contract has express written provision to the contrary; or

(b)  it is clear from the terms of the contract that the alteration of the sales tax law has been taken into account in the agreed contract price.