A New Tax System (Goods and Services Tax) Act 1999
Note:Division 99 - Deposits as security 99-5 Giving a deposit as security does not constitute consideration (1)
A deposit held as security for the performance of an obligation is not treated as * consideration for a supply, unless the deposit:
(a) is forfeited because of a failure to perform the obligation; or
(b) is applied as all or part of the consideration for a supply. (2)
This section has effect despite section 9-15 (which is about consideration).
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