A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999 (177 of 1999)

Schedule 1   Indirect Tax Acts

Part 1   Amendment of the A New Tax System (Goods and Services Tax) Act 1999

133   Section 195-1 (paragraph (a) of the definition of GST exclusive value )

Repeal the paragraph, substitute:

(a) in relation to an acquisition:

(i) other than of a *luxury car - means 10/11 of the *price of the supply of the thing being acquired; or

(ii) of a *luxury car - means 10/11 of the *price of the supply of the luxury car (excluding any *luxury car tax payable on the supply); and