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

Chapter 2 - The basic rules  

Part 2-6 - Tax periods  

Division 29 - What is attributable to tax periods  

Subdivision 29-A - The attribution rules  

29-5   Attributing the GST on your taxable supplies  

(1)  
The GST payable by you on a * taxable supply is attributable to:


(a) the tax period in which any of the * consideration is received for the supply; or


(b) if, before any of the consideration is received, an * invoice is issued relating to the supply - the tax period in which the invoice is issued.

(2)  
However, if you * account on a cash basis , then:


(a) if, in a tax period, all of the * consideration is received for a * taxable supply - GST on the supply is attributable to that tax period; or


(b) if, in a tax period, part of the consideration is received - GST on the supply is attributable to that tax period, but only to the extent that the consideration is received in that tax period; or


(c) if, in a tax period, none of the consideration is received - none of the GST on the supply is attributable to that tax period.


 

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