80Contractors

80 Contractors

Where, under subsection (2) of section 70B of the Sales Tax Assessment Act (No. 1) 1930-1953, a contractor is required to deliver to the party liable to pay the contract price a statement in writing showing the amount of the increase or reduction of that price, the statement shall contain the following particulars of each item of the materials the cost of supplying which has been increased or decreased as the result of the alteration of the law relating to sales tax:

(a) nature;

(b) quantity;

(c) cost price inclusive of tax;

(d) tax included in cost price; and

(e) tax which would have been payable if the law relating to sales tax had not been altered.