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A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2, but they may affect other Parts of Chapter 2 in minor ways.

Division 100 - Vouchers    View history reference

100-5  Supplies of vouchers with a stated monetary value  

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(1)  

A supply of a *voucher is not a *taxable supply if:


(a) on redemption of the voucher, the holder of the voucher is entitled to supplies up to the *stated monetary value of the voucher; and
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(b) the *consideration for supply of the voucher does not exceed the stated monetary value of the voucher.
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(2)  

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If the *consideration for supply of the voucher exceeds the *stated monetary value of the voucher, the consideration is treated (except for the purposes of this section) as if it were reduced by that monetary value.

(2A)  

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The stated monetary value, in relation to a *voucher other than a *prepaid phone card or facility, means the monetary value stated on the voucher or in documents accompanying the voucher.

(2B)  

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The stated monetary value, in relation to a *voucher that is a *prepaid phone card or facility, means the sum of:


(a) in any case - the monetary value stated on the voucher or in documents accompanying the voucher; and


(b) if the voucher is topped up after it is supplied - the monetary value of the top-up stated on the voucher or in documents accompanying the top-up.

However, disregard the monetary value stated on the voucher (or in documents accompanying the voucher) or top-up (as the case requires), of any bonus supplies covered by the voucher or top-up (as the case requires).

(3)  

This section has effect despite section 9-5 (which is about what are taxable supplies) and section 9-15 (which is about consideration).


 



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