Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 102.5

             (1)  If a supply by way of lay-by sale is cancelled:

                     (a)  any amount already paid by the * recipient 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 * consideration for a supply made by the supplier and as consideration for an acquisition made by the recipient.

             (2)  This section has effect despite section 9-15 (which is about what is consideration).