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).