Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 11.10

Meaning of acquisition

             (1)  An acquisition is any form of acquisition whatsoever.

             (2)  Without limiting subsection (1), acquisition includes any of these:

                     (a)  an acquisition of goods;

                     (b)  an acquisition of services;

                     (c)  a receipt of advice or information;

                     (d)  an acceptance of a grant, assignment or surrender of * real property;

                     (e)  an acceptance of a grant, transfer, assignment or surrender of any right;

                      (f)  an acquisition of something the supply of which is a * financial supply;

                     (g)  an acquisition of a right to require another person:

                              (i)  to do anything; or

                             (ii)  to refrain from an act; or

                            (iii)  to tolerate an act or situation;

                     (h)  any combination of any 2 or more of the matters referred to in paragraphs (a) to (g).

             (3)  However, acquisition does not include:

                     (a)  an acquisition of * money unless the money is provided as * consideration for a supply that is a supply of money or * digital currency; or

                     (b)  an acquisition of digital currency unless the digital currency is provided as consideration for a supply that is a supply of digital currency or money.



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