Treasury Laws Amendment (2017 Measures No. 6) Act 2017 (118 of 2017)

Schedule 1   GST treatment of digital currency

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

4   Subsection 11-10(3)

Repeal the subsection, substitute:

(3) However, acquisition does not include:

(a) an acquisition of *money unless the money is provided as *consideration for a supply that is a supply of money or *digital currency; or

(b) an acquisition of digital currency unless the digital currency is provided as consideration for a supply that is a supply of digital currency or money.