A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 126.32 Repayments of gambling losses are not consideration
A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 126.32
Repayments of gambling losses are not consideration(1) A payment of * money or * digital currency is not the provision of * consideration to the extent that the payment:
(a) is made by a supplier of * gambling supplies to a * recipient of gambling supplies that the supplier makes; and
(b) is made, under an agreement between them, to repay to the recipient a proportion of his or her losses relating to those supplies.
(2) This section has effect despite section 9 - 15 (which
is about what is consideration).