A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
If a supply by way of lay-by sale is cancelled:
(a) any amount already paid by the * recipient that the supplier retains because of the cancellation; and
(b) any amount the supplier recovers from the recipient because of the cancellation;
(2)
This section has effect despite section 9-15 (which is about what is consideration).
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 102 - Cancelled lay-by sales 102-5 Cancelled lay-by sales (1)If a supply by way of lay-by sale is cancelled:
(a) any amount already paid by the * recipient that the supplier retains because of the cancellation; and
(b) any amount the supplier recovers from the recipient because of the cancellation;
is treated as * consideration for a supply made by the supplier and as consideration for an acquisition made by the recipient.
(2)
This section has effect despite section 9-15 (which is about what is consideration).
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