A New Tax System (Goods and Services Tax) Act 1999
29‑5 Attributing the GST on your taxable29‑5 Attributing the GST on your taxable supplies
Start here
Get a plain-English read of 29‑5 Attributing the GST on your taxable
Turn the raw legal text into a practical explanation grounded in A New Tax System (Goods and Services Tax) Act 1999.
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.