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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 100.10

Redemption of vouchers

  (1)   The act of redeeming a * voucher is not a supply.

Note:   A supply for which the voucher is redeemed is still a supply.

  (2)   Subsection   (1) has effect despite section   9 - 10 (which is about what is a supply).

  (3)   Subsection   9 - 17(1) (which is about the consideration for exercising rights or options) does not apply to a right or option that is granted by way of a * voucher if, on redemption of the voucher, the holder of the voucher is entitled to supplies up to the * stated monetary value of the voucher.


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