A New Tax System (Goods and Services Tax) Act 1999
Note:Division 79 - Compulsory third party schemes Subdivision 79-C - Other payments and supplies under compulsory third party schemes 79-80 Payments of excess under compulsory third party schemes are not consideration for supplies (1)
The making of any payment by an entity is not treated as * consideration for a supply, to the entity or any other entity, to the extent that the payment is the payment of an excess to an * operator of a * compulsory third party scheme . (2)
This section has effect despite section 9-15 (which is about consideration).
S 79-80 inserted by No 67 of 2003, s 3 and Sch 11 item 18, applicable in relation to net amounts for tax periods starting on or after 1 July 2000.
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