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

Chapter 4 - The special rules  

Part 4-6 - Special rules mainly about tax periods  

Note:

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  

156-10   Attributing the input tax credits on progressive or periodic acquisitions  

(1)    

The input tax credit to which you are entitled for a * creditable acquisition 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 29-10 , as if each progressive or periodic component of the acquisition were a separate acquisition.

(2)    

If the progressive or periodic components of such an acquisition are not readily identifiable, the components correspond to the proportion of the total * consideration for the acquisition that the separate amounts of consideration represent.