Document ID: chunk:federal_register_of_legislation:C2025C00126:section:5:p26
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 5 (pt 26/33)
Character Range: 595178–597892

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.

Division 102—Cancelled lay‑by sales

102‑1  What this Division is about
      If a lay‑by sale is cancelled, any amount retained or recovered by the supplier is within the GST system.

102‑5  Cancelled lay‑by sales
 (1) If a supply by way of lay‑by sale is cancelled:
 (a) any amount already paid by the *recipient that the supplier retains because of the cancellation; and
 (b) any amount the supplier recovers from the recipient because of the cancellation;
is treated as *consideration for a supply made by the supplier and as consideration for an acquisition made by the recipient.
 (2) This section has effect despite section 9‑15 (which is about what is consideration).

102‑10  Attributing GST and input tax credits
 (1) If an amount is retained or recovered in circumstances referred to in section 102‑5:
 (a) the GST payable by you on a *taxable supply for which the amount is *consideration; or
 (b) the input tax credit to which you are entitled for a *creditable acquisition for which the amount is consideration;
is attributable to the tax period during which the amount was retained or recovered, as the case requires.
 (2) This section has effect despite sections 29‑5 and 29‑10 (which are about attributing GST for taxable supplies and input tax credits for creditable acquisitions).

Division 105—Supplies in satisfaction of debts

105‑1  What this Division is about
      This Division makes a creditor liable for GST on supplies of a debtor's property where the supply is in satisfaction of a debt owed to the creditor.
Note: This Division overrides Division 58 to the extent that the creditor is a representative of the debtor and the debtor is an incapacitated entity (see section 58‑95).

105‑5  Supplies by creditors in satisfaction of debts may be taxable supplies
 (1) You make a taxable supply if:
 (a) you supply the property of another entity (the debtor) to a third entity in or towards the satisfaction of a debt that the debtor owes to you; and
 (b) had the debtor made the supply, the supply would have been a *taxable supply.
 (2) It does not matter whether: