A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 99.5 Giving a deposit as security does not constitute consideration
A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 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).