A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-6 - Special rules mainly about tax periods  

Note:

The special rules in this Part mainly modify the operation of Part 2-6 , but they may affect other Parts of Chapter 2 in minor ways.

Division 156 - Supplies and acquisitions made on a progressive or periodic basis  

156-17   Application of Division 58 to progressive or periodic supplies and acquisitions  

(1)  
A supply that is made:


(a) for a period or on a progressive basis; and


(b) for *consideration that is to be provided on a progressive or periodic basis;

is treated, for the purposes of Division 58 (which is about representatives of incapacitated entities), as if each progressive or periodic component of the supply were a separate supply.

(2)  
An acquisition that is made:


(a) for a period or on a progressive basis; and


(b) for *consideration that is to be provided on a progressive or periodic basis;

is treated, for the purposes of Division 58 (which is about representatives of incapacitated entities), as if each progressive or periodic component of the acquisition were a separate acquisition.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.