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 156-5 Attributing the GST on progressive or periodic supplies (1)
The GST payable by you on a * taxable 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 attributable, in accordance with section 29-5 , as if each progressive or periodic component of the supply were a separate supply.
S 156-5(1) amended by No 177 of 1999, s 3 and Sch 1 item 112, by substituting ``, in accordance with section 29-5,'' for ``to one or more tax periods'', effective 1 July 2000.
If the progressive or periodic components of such a supply are not readily identifiable, the components correspond to the proportion of the total * consideration for the supply that the separate amounts of consideration represent.
S 156-5(2) substituted by No 177 of 1999, s 3 and Sch 1 item 113, effective 1 July 2000. S 156-5(2) formerly read:
This section has effect despite section 29-5 (which is about attributing GST on taxable supplies).
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