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

S 9-85(2) substituted by No 118 of 2017, s 3 and Sch 1 item 2, effective 1 July 2017. For application provision, see note under the definition of " digital currency " in s 195-1 . No 118 of 2017, s 3 and Sch 1 item 3 contains the following transitional provision:

3 Transitional - preserving existing determinations  
An instrument made under subsection 9-85(2) of the A New Tax System (Goods and Services Tax) Act 1999 that is in force immediately before the commencement of this Schedule continues in force (and may be dealt with) as if it had been made under that subsection as amended by this Schedule.

S 9-85(2) formerly read:

(2)
In working out the *value of a *taxable supply, any amount of the *consideration for the supply that is expressed in a currency other than Australian currency is to be treated as if it were an amount of Australian currency worked out in the manner determined by the Commissioner.

S 9-85 inserted by No 176 of 1999, s 3 and Sch 1 item 9, effective 1 July 2000.