Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 126.32

Repayments of gambling losses are not consideration

             (1)  A payment of * money or * digital currency is not the provision of * consideration to the extent that the payment:

                     (a)  is made by a supplier of * gambling supplies to a * recipient of gambling supplies that the supplier makes; and

                     (b)  is made, under an agreement between them, to repay to the recipient a proportion of his or her losses relating to those supplies.

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



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