A New Tax System (Goods and Services Tax) Act 1999
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 156-10 Attributing the input tax credits on progressive or periodic acquisitions (1)
The input tax credit to which you are entitled for a * creditable 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 attributable, in accordance with section 29-10 , as if each progressive or periodic component of the acquisition were a separate acquisition.
If the progressive or periodic components of such an acquisition are not readily identifiable, the components correspond to the proportion of the total * consideration for the acquisition that the separate amounts of consideration represent.
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