A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 84.20 The price of taxable supplies of offshore intangibles without, or for inadequate, consideration

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 84.20

  (1)   The price of a supply that is a * taxable supply because of section   84 - 5 is the * GST inclusive market value of the supply, if:

  (a)   the supply is from the * recipient's * associate; and

  (b)   the supply is:

  (i)   without * consideration; or

  (ii)   for consideration that is less than the GST inclusive market value.

Note:   A supply to an associate without consideration may be a taxable supply, see section   72 - 5.

  (2)   This section has effect despite section   9 - 75 (which is about the price of taxable supplies).