A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 1 Indirect Tax Acts
Part 1 Amendment of the A New Tax System (Goods and Services Tax) Act 1999
132 At the end of Division 188
Add:
188-35 The value of loans
To the extent that a supply is constituted by a loan of *money, any repayment of the principal, and any obligation to repay the principal, is to be disregarded in working out the value of the supply.
Copyright notice
© Australian Taxation Office for the Commonwealth of Australia
You are free to copy, adapt, modify, transmit and distribute material on this website as you wish (but not in any way that suggests the ATO or the Commonwealth endorses you or any of your services or products).
