A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 3 Income Tax Assessment Act 1997
Part 1 General
50 At the end of section 387-490
(a) the sale or disposal of the *forestry road or *timber mill building is a *taxable supply; or
(b) receipt under an insurance policy of the amount or value in respect of the loss or destruction of the road or building is or would be a taxable supply;
the termination value of the road or building does not include an amount equal to the *GST payable on the supply.