A New Tax System (Goods and Services Tax) Act 1999
The special rules
Special rules mainly about supplies and acquisitions
The special rules in this Part mainly modify the operation of
, but they may affect other Parts of
in minor ways.
Cancelled lay-by sales
102-5 Cancelled lay-by sales
If a supply by way of lay-by sale is cancelled:
(a) any amount already paid by the *
that the supplier retains because of the cancellation; and
(b) any amount the supplier recovers from the recipient because of the cancellation;
is treated as *
for a supply made by the supplier and as consideration for an acquisition made by the recipient.
This section has effect despite
(which is about what is consideration).