A New Tax System (Indirect Tax and Consequential Amendments) Act (No. 2) 1999 (177 of 1999)
Schedule 5 Income tax deductions for GST-related expenditure
Income Tax Assessment Act 1997
12 Subsection 995-1(1)
Insert:
value of the business supplies : the value of the business supplies an entity makes in an income year is the sum of:
(a) for *taxable supplies (if any) the entity made during the year in the ordinary course of carrying on a *business - the value (as defined by section 9-75 of the *GST Act) of the supplies; and
(b) for other supplies the entity made during the year in the ordinary course of carrying on a business - the prices (as defined by section 9-75 of the GST Act) of the supplies.
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