Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 113.1

What this Division is about

A supply is not a taxable supply if:

               (a)     an amount must be withheld from payment for the supply because of section 12-55 in Schedule 1 to the Taxation Administration Act 1953 (about voluntary agreements to withhold); and

              (b)     the acquisition of the thing supplied would be a creditable acquisition if the supply were a taxable supply.



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