A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 188.24 Supplies to which Subdivision 153 - B applies
A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 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.