A New Tax System (Goods and Services Tax) Act 1999
Note:Division 100 - Vouchers
Division 100 inserted by No 177 of 1999, s 3 and Sch 1 item 98, effective 1 July 2000.
You have an increasing adjustment if:
(a) you supplied a * voucher for * consideration ; and
(b) on redemption of the voucher, the holder of the voucher was entitled to supplies up to the *stated monetary value of the voucher; and
(c) the voucher has not been fully redeemed; and
(d) you have, for accounting purposes, written back to current income any reserves for the redemption of the voucher.
S 100-15(1) amended by No 32 of 2006, s 3 and Sch 4 item 11, by inserting " fully " before " redeemed " in para (c), applicable in relation to supplies made on or after 11 May 2005.
S 100-15(1) amended by No 32 of 2006, s 3 and Sch 4 item 10, by substituting " the *stated monetary value of the voucher " for " a monetary value stated on the voucher " in para (b), applicable, and taken to have applied, in relation to supplies made on or after 1 July 2000.
The amount of the increasing adjustment is 1/11 of the *stated monetary value of the voucher to the extent that it was not redeemed.
S 100-15(2) substituted by No 32 of 2006, s 3 and Sch 4 item 12, applicable in relation to supplies made on or after 11 May 2005. S 100-15(2) formerly read:
The amount of the increasing adjustment is 1/11 of the amount written back to current income.
S 100-15 inserted by No 177 of 1999, s 3 and Sch 1 item 98, effective 1 July 2000.
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