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A New Tax System (Goods and Services Tax) Act 1999
102‑5 Cancelled lay‑by sales102‑5 Cancelled lay‑by sales
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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).