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

9   After section 100-10

Insert:

100-12 Consideration on redemption of vouchers

(1) To avoid doubt, the consideration for a *taxable supply of a thing acquired by fully redeeming a *voucher is taken to be the sum of:

(a) the *stated monetary value of the voucher, reduced by any amount of that value refunded to the holder of the voucher in respect of the supply; and

(b) any additional consideration provided for the supply.

(2) To avoid doubt, the consideration for a *taxable supply of a thing acquired by partly redeeming a *voucher is taken to be the sum of:

(a) the amount of the *stated monetary value of the voucher that the redemption represents; and

(b) any additional consideration provided for the supply.

(3) Subsections (1) and (2) have effect despite section 9-15 (which is about consideration).