Tax Laws Amendment (2011 Measures No. 9) Act 2012 (12 of 2012)

Schedule 3   GST financial supply provisions

Part 3   Hire purchase agreements

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

9   After section 156-22

Insert:

156-23 Certain supplies or acquisitions under hire purchase agreements treated as not on progressive or periodic basis

For the purposes of this Division, a supply or acquisition of goods or credit under a *hire purchase agreement is treated as not being a supply or acquisition made on a progressive or periodic basis.