Document ID: chunk:federal_register_of_legislation:C2016C00974:clause:3_7
Version: federal_register_of_legislation:C2016C00974
Segment Type: clause
Provision Reference: sch 3 cl 7
Character Range: 88202–89012

7  Section 195‑1 (definition of net amount)
Repeal the definition, substitute:
net amount, for a tax period, has the meaning given by section 17‑5. However:
 (a) it has the meaning given by section 162‑105 if the tax period is an *instalment tax period; or
 (b) it has the meaning given by section 123‑15 if a choice under Division 123 to apply a *simplified accounting method has effect during the tax period, and paragraph (a) does not apply; or
 (c) it has the meaning given by section 126‑5 if you are liable for GST on a *gambling supply that is attributable to the tax period, and paragraphs (a) and (b) do not apply.
Note: Subdivision 21‑A of the Wine Tax Act and Subdivision 13‑A of the A New Tax System (Luxury Car Tax) Act 1999 can affect the net amount.

A New Tax System (Luxury Car Tax) Act 1999