A New Tax System (Goods and Services Tax) Act. Australia

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      Insurance

      Division 78

      7

      Offshore supplies other than goods or real property

      Division 84

      8

      Payments of taxes, fees and charges

      Division 81

      8A

      Second-hand goods

      Division 66

      8B

      Settlement sharing arrangements

      Division 80

      9

      Supplies and acquisitions made on a progressive or periodic basis

      Division 156

      9A

      Supplies in return for rights to develop land

      Division 82

      10

      Supplies in satisfaction of debts

      Division 105

      11

      Supplies partly connected with Australia

      Division 96

      12

      Supply under arrangement covered by PAYG voluntary agreement

      Division 113

      12A

      Tax-related transactions

      Division 110

      13

      Telecommunication supplies

      Division 85

      14

      Vouchers

      Division 100

      Subdivision 9-B — Who is liable for GST on taxable supplies?

      9-40 Liability for GST on taxable supplies

      You must pay the GST payable on any *taxable supply that you make.

      9-69 Special rules relating to liability for GST on taxable supplies

      Chapter 4 contains special rules relating to liability for GST on taxable supplies, as follows:

      Checklist of special rules

      Item

      For this case…

      See:

      1

      Company amalgamations

      Division 90

      2

      GST groups

      Division 48

      3

      GST joint ventures

      Division 51

      4

      Offshore supplies other than goods or real property

      Division 84

      4A

      Non-residents making supplies connected with Australia

      Division 83

      4B

      Representatives of incapacitated entities

      Division 58

      5

      Resident agents acting for non-residents

      Division 57

      Subdivision 9-C — How much GST is payable on taxable supplies?

      9-70 The amount of GST on taxable supplies

      The amount of GST on a *taxable supply is 10 % of the *value of the taxable supply.

      9-75 The value of taxable supplies

      (1) The value of a *taxable supply is as follows:

      where:

      price is the sum of:

      (a) so far as the *consideration for the supply is consideration expressed as an amount of *money — the amount (without any discount for the amount of GST (if any) payable on the supply); and

      (b) so far as the consideration is not consideration expressed as an amount of money — the *GST inclusive market value of that consideration.

      Example: You make a taxable supply by selling a car for $22,000 in the course of carrying on an enterprise.

      The value of the supply is:

      The GST on the supply is therefore $2,000 (i.e. 10 % of $20,000).

      (2) However, if the taxable supply is of a *luxury car, the value of the taxable supply is as follows:

      where:

      luxury car tax value has the meaning given by section 5-20 of the A New Tax System (Luxury Car Tax) Act 1999.

      (3) In working out under subsection (1) the value of a *taxable supply made in a *tax period, being a supply that is a *fringe benefit, the price is taken to be the sum of:

      (a) to the extent that, apart from this subsection, paragraph (a) of the definition of price in subsection (1) would be applicable:

      (i) if the fringe benefit is a car fringe benefit — so much of the amount that would be worked out under that paragraph as represented the *recipient’s payment made in that period; or

      (ii) if the fringe benefit is a benefit other than a car fringe benefit — so much of the amount that would be worked out under that paragraph as represented the *recipients contribution made in that period; and

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