GST-free and input taxed
(3) To the extent that a supply would, apart from this subsection, be both *GST-free and *input taxed:
(a) the supply is GST-free and not input taxed, unless the provision under which it is input taxed requires the supplier to have chosen for its supplies of that kind to be input taxed; or
(b) the supply is input taxed and not GST-free, if that provision requires the supplier to have so chosen.
Note: Subdivisions 40-E (School tuckshops and canteens) and 40-F (Fund-raising events conducted by charitable institutions etc.) require such a choice.)
Supply of things used solely in connection with making supplies that are input taxed but not financial supplies
(4) A supply is taken to be a supply that is *input taxed if it is a supply of anything (other than *new residential premises) that you have used solely in connection with your supplies that are input taxed but are not *financial supplies.
9-39 Special rules relating to taxable supplies
Chapter 4 contains special rules relating to taxable supplies, as follows:
Checklist of special rules
Item
For this case…
See:
1A
Agents and insurance brokers
Division 153
1
Associates
Division 72
2
Cancelled lay-by sales
Division 102
3
Company amalgamations
Division 90
3A
Compulsory third party schemes
Division 79
4
Deposits as security
Division 99
5
Gambling
Division 126
5A
GST religious groups
Division 49
6
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: