Tax Laws Amendment (2006 Measures No. 1) Act 2006 (32 of 2006)

Schedule 4   Vouchers

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

7   After subsection 100-5(2)

Insert:

(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).