Commonwealth Consolidated Acts

A NEW TAX SYSTEM (LUXURY CAR TAX) ACT 1999 - SECT 15.5

             (1)  A luxury car tax adjustment event is any event which has the effect of:

                     (a)  cancelling a supply of a ^* luxury car; or

                     (b)  changing the ^* consideration for the supply; or

                     (c)  causing the supply to become, or stop being, a ^* taxable supply of a luxury car.

             (2)  Without limiting subsection (1), these are ^* luxury car tax adjustment events:

                     (a)  the return to a supplier of a ^* car supplied (whether or not the return involves a change of ownership of the car);

                     (b)  a change to the previously agreed ^* consideration for a supply of a car, whether due to the offer of a discount or otherwise.

             (3)  A ^* luxury car tax adjustment event can arise in relation to a supply of a ^* car even if it is not a ^* taxable supply of a luxury car.

             (4)  However, the return of a ^* luxury car to its supplier is not an ^* adjustment event if the return is for the purpose of repair or maintenance.