1.7. What are the GST implications for hire purchase agreements entered into before 1 July 2000?
Non-interpretative – other references (see paragraphs 200 to 203 of GSTR 2000/29External Link - Goods and services tax: attributing GST payable, input tax credits and adjustments and particular attribution rules made under section 29-25).
A hire purchase agreement entered into before 1 July 2000 will not be subject to GST. This is because a hire purchase agreement is a one-off supply of goods and not a progressive supply.