Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 11.10

  (1)   An acquisition is any form of acquisition whatsoever.

  (2)   Without limiting subsection   (1), acquisition includes any of these:

  (a)   an acquisition of goods;

  (b)   an acquisition of services;

  (c)   a receipt of advice or information;

  (d)   an acceptance of a grant, assignment or surrender of * real property;

  (e)   an acceptance of a grant, transfer, assignment or surrender of any right;

  (f)   an acquisition of something the supply of which is a * financial supply;

  (g)   an acquisition of a right to require another person:

  (i)   to do anything; or

  (ii)   to refrain from an act; or

  (iii)   to tolerate an act or situation;

  (h)   any combination of any 2 or more of the matters referred to in paragraphs   (a) to (g).

  (3)   However, acquisition does not include:

  (a)   an acquisition of * money unless the money is provided as * consideration for a supply that is a supply of money or * digital currency; or

  (b)   an acquisition of digital currency unless the digital currency is provided as consideration for a supply that is a supply of digital currency or money.