A New Tax System (Goods and Services Tax) Act 1999

Chapter 6 - Interpreting this Act  

Part 6-2 - Meaning of some important concepts  

Division 188 - Meaning of GST turnover  

188-24   Supplies to which Subdivision 153-B applies  

(1)  


In working out your * current GST turnover or your * projected GST turnover , you may choose to treat the * value of any * taxable supply that, under subsection 153-55(1) , you are taken to make as an intermediary as being an amount equal to the difference between:


(a) what is, apart from this section, the value of the supply; and


(b) the value of the taxable supply that, under subsection 153-55(2) , is taken to be made to you in relation to the taxable supply that you are taken to make.

(2)  


In working out your * current GST turnover or your * projected GST turnover , you may choose to treat the * value of any * taxable supply that, under subsection 153-60(2) , you are taken to make as an intermediary as being an amount equal to the difference between:


(a) what is, apart from this section, the value of the supply; and


(b) 10/11 of the * consideration you provided or are liable to provide for the * creditable acquisition that, under subsection 153-60(1) , you are taken to make and that relates to that supply.


 

Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited

CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.

The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.