Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 84.20

The price of taxable supplies of offshore intangibles without, or for inadequate, consideration

             (1)  The price of a supply that is a * taxable supply because of section 84-5 is the * GST inclusive market value of the supply, if:

                     (a)  the supply is from the * recipient's * associate; and

                     (b)  the supply is:

                              (i)  without * consideration; or

                             (ii)  for consideration that is less than the GST inclusive market value.

Note:          A supply to an associate without consideration may be a taxable supply, see section 72-5.

             (2)  This section has effect despite section 9-75 (which is about the price of taxable supplies).



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