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A New Tax System (Goods and Services Tax) Act 1999
99‑10 Attributing the GST relating to de99‑10 Attributing the GST relating to deposits that are forfeited etc.
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99‑10 Attributing the GST relating to deposits that are forfeited etc.
(1) The GST payable by you on a *taxable supply for which the *consideration is a deposit that was held as security for the performance of an obligation is attributable to the tax period during which the deposit: (a) is forfeited because of a failure to perform the obligation; or (b) is applied as all or part of the consideration for a supply. (2) This section has effect despite section 29‑5 (which is about attributing GST for taxable supplies).