A New Tax System (Goods and Services Tax) Act 1999
Note:Division 102 - Cancelled lay-by sales 102-5 Cancelled lay-by sales (1)
If a supply by way of lay-by sale is cancelled:
(a) any amount already paid by the * recipient that the supplier retains because of the cancellation; and
(b) any amount the supplier recovers from the recipient because of the cancellation;
is treated as * consideration for a supply made by the supplier and as consideration for an acquisition made by the recipient.(2)
This section has effect despite section 9-15 (which is about what is consideration).
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