A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 100 - Vouchers  

100-5   Supplies of vouchers with a stated monetary value  

(1)    
A supply of a * voucher is not a * taxable supply if:

(a) on redemption of the voucher, the holder of the voucher is entitled to supplies up to the *stated monetary value of the voucher; and

(b) the * consideration for supply of the voucher does not exceed the stated monetary value of the voucher.

(2)    

If the * consideration for supply of the voucher exceeds the *stated monetary value of the voucher, the consideration is treated (except for the purposes of this section) as if it were reduced by that monetary value.

(2A)    

The stated monetary value , in relation to a *voucher other than a *prepaid phone card or facility, means the monetary value stated on the voucher or in documents accompanying the voucher.

(2B)    

The stated monetary value , in relation to a *voucher that is a *prepaid phone card or facility, means the sum of:

(a) in any case - the monetary value stated on the voucher or in documents accompanying the voucher; and

(b) if the voucher is topped up after it is supplied - the monetary value of the top-up stated on the voucher or in documents accompanying the top-up.

However, disregard the monetary value stated on the voucher (or in documents accompanying the voucher) or top-up (as the case requires), of any bonus supplies covered by the voucher or top-up (as the case requires).

(3)    
This section has effect despite section 9-5 (which is about what are taxable supplies) and section 9-15 (which is about consideration).