A New Tax System (Goods and Services Tax Transition) Act 1999
This section sets out how to determine when a supply or acquisition is made for the purposes of this Act.
Many of the rules in this Act rely on this concept.(2)
A supply or acquisition of goods is made:
(a) when the goods are removed; or
(b) if the goods are not to be removed - when the goods are made available to the recipient; or
(c) if the goods are removed before it is certain that a supply will be made (for example, if the goods are given or taken on approval, sale or return, or similar terms) - when it becomes certain that a supply has been made.
A supply or acquisition of real property is made when the property is made available to the recipient. (4)
A supply or acquisition of services is made when the services are performed.
However, section 12 provides a different rule for progressive and periodic contracts.(5)
A supply or acquisition of any other thing is made when the thing is performed or done.
However, section 12 provides a different rule for progressive and periodic contracts.
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