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 158 - Hire purchase agreements  

158-5   Treat as not accounting on a cash basis  

(1)    
This section applies if you * account on a cash basis .

(2)    
This Act and the regulations apply in relation to:

(a) an acquisition you make under a * hire purchase agreement ; or

(b) an input tax credit to which you are entitled, or an * adjustment you have, under subsection 58-10(1) for an acquisition made under a hire purchase agreement;

as if you do not * account on a cash basis .