A New Tax System (Goods and Services Tax) Regulations 1999 (repealed)

Part 4-7 - Special rules mainly about returns, payments and refunds  

Division 168 - Tourist refund scheme  

Subdivision 168-4 - Proportion of amount of GST for payment in cash  

168-5.11   Cash payment  

(1)    
For paragraphs 168-5(1)(e) and (1A)(g) of the Act, this regulation applies if:


(a) an amount of GST on a taxable supply is to be paid to an acquirer in cash; and


(b) the amount of GST is not an exact multiple of 5 cents.


(2)    
If the amount of GST (the base amount ) ends with an amount that is more than an exact multiple of 5 cents but less that 2.5 cents, or more than an exact multiple of 5 cents but less than 7.5 cents:


(a) the base amount is to be rounded down to the nearest exact multiple of 5 cents; and


(b) the result is the proportion of the base amount that is to be paid to the acquirer.

(3)    
If the amount of GST (the base amount ) ends with an amount that is 2.5 cents or more, but less than an exact multiple of 5 cents, or 7.5 cents or more, but less than an exact multiple of 5 cents:


(a) the base amount is to be rounded up to the nearest exact multiple of 5 cents; and


(b) the result is the proportion of the base amount that is to be paid to the acquirer.




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