Commonwealth Consolidated Acts Commonwealth Consolidated Acts
A New Tax System (Goods and Services Tax) Act 1999
1 At the end of subsection 29 - 25(2)
Add:
; or (h) a supply or acquisition for which the GST treatment will be unknown until a later supply is made.
2 Section 100 - 1 (note)
Omit "state a", substitute "have a stated".
3 Section 100 - 5 (heading)
Repeal the heading, substitute:
100 - 5 Supplies of vouchers with a stated monetary value
4 Paragraph 100 - 5(1)(a)
Omit "a monetary value stated on the voucher", substitute "the * stated monetary value of the voucher".
5 Paragraph 100 - 5(1)(b)
Omit "that monetary value", substitute "the stated monetary value of the voucher".
6 Subsection 100 - 5(2)
Omit "that monetary value", substitute "the * stated monetary value of the voucher".
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).
8 Subsection 100 - 10(3)
Omit "a monetary value stated on the voucher", substitute "the * stated monetary value of the voucher".
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).
10 Paragraph 100 - 15(1)(b)
Omit "a monetary value stated on the voucher", substitute "the * stated monetary value of the voucher".
11 Paragraph 100 - 15(1)(c)
Before "redeemed", insert "fully".
12 Subsection 100 - 15(2)
Repeal the subsection, substitute:
(2) The amount of the increasing adjustment is 1/11 of the * stated monetary value of the voucher to the extent that it was not redeemed.
13 After section 100 - 15
Insert:
100 - 18 Arrangement for supply of voucher
(1) An entity (the supplier ) may, in writing, enter into an arrangement with another entity under which the other entity supplies (whether or not as an agent on the supplier's behalf) a * voucher to a third party.
(2) If, under the arrangement, the supplier pays, or is liable to pay, an amount, as a commission or similar payment, to the other entity for the other entity's supply, the supply by the other entity to the supplier, to which the supplier's payment or liability relates, is treated as if it were not a * taxable supply.
(3) This section has effect despite section 9 - 5 (which is about what are taxable supplies).
14 Section 100 - 25
Repeal the section, substitute:
100 - 25 Meaning of voucher etc.
(1) A voucher is any:
(a) voucher, token, stamp, coupon or similar article; or
(b) * prepaid phone card or facility;
the redemption of which in accordance with its terms entitles the holder to receive supplies in accordance with its terms. However, a postage stamp is not a voucher.
(2) A prepaid phone card or facility is any article or facility supplied for the primary purpose of enabling the holder:
(a) to use, on a prepaid basis, telephone or like services supplied by a supplier of * telecommunications supplies; or
(b) to make, on a prepaid basis, acquisitions that are facilitated by using telephone or like services supplied by such a supplier.
15 Section 195 - 1 (note to the definition of consideration )
After "100 - 5", insert ", 100 - 12".
16 Section 195 - 1
Insert:
"prepaid phone card or facility" has the meaning given by subsection 100 - 25(2).
17 Section 195 - 1
Insert:
"stated monetary value" has the meanings given by subsections 100 - 5(2A) and (2B).
18 Section 195 - 1 (note to the definition of taxable supply )
Before "110 - 5", insert "100 - 18".
19 Section 195 - 1 (definition of voucher )
Omit "section 100 - 25", substitute "subsection 100 - 25(1)".
20 Application of amendments
(1) The amendments made by items 1, 13 and 18 apply in relation to supplies made on or after the day on which this Act receives the Royal Assent.
(2) The amendments made by items 2, 3, 4, 5, 6, 7, 8, 10, 14, 16, 17 and 19 apply, and are taken to have applied, in relation to supplies made on or after 1 July 2000.
(3) The amendments made by items 9, 11, 12 and 15 apply in relation to supplies made on or after 11 May 2005.
21 Transitional provision
(1) This item applies if:
(a) a supplier of telecommunications supplies entered into an arrangement under section 153 - 50 of the A New Tax System (Goods and Services Tax) Act 1999 before the day on which this Act receives the Royal Assent; and
(b) the arrangement applies wholly or partly to prepaid phone cards or facilities; and
(c) to the extent that the arrangement applies to those cards or facilities, section 153 - 55 of that Act did not apply to the supply of those cards or facilities merely because:
(i) the supply was not a taxable supply; or
(ii) the supply was not a taxable supply and another party to the arrangement was not an agent of the supplier of telecommunications supplies.
(2) To the extent that the arrangement applies to supplies of prepaid phone cards or facilities made on or after the day on which this Act receives the Royal Assent, the arrangement is taken to have effect under Subdivision 153 - B of the A New Tax System (Goods and Services Tax) Act 1999 as if:
(a) those supplies were taxable supplies; and
(b) if subparagraph (1)(c)(ii) applies--that other party supplies those cards or facilities as the agent of the supplier of telecommunications supplies.