A New Tax System (Goods and Services Tax) Act. Australia
or entity’s tax period at the time is taken to have ceased at the end of the day before the death or cessation.
(1A) If an entity ceases to *carry on any *enterprise, the entity’s tax period at the time is taken to have ceased at the end of the day on which the cessation occurred.
(2) If an entity’s *registration is cancelled, the entity’s tax period at the date of effect of the cancellation (the cancellation day) ceases at the end of the cancellation day.
27–99 Special rules relating to tax periods
Chapter 4 contains special rules relating to tax periods, as follows:
Checklist of special rules
Item
For this case…
See:
1AAA
Annual tax periods
Division 151
1
Changes in the extent of creditable purpose
Division 129
1AA
GST groups
Division 48
1AB
Payment of GST by instalments
Division 162
1A
Representatives of incapacitated entities
Division 58
2
Resident agents acting for non-residents
Division 57
Division 29—What is attributable to tax periods
Table of Subdivisions
29-A The attribution rules
29-B Accounting on a cash basis
29-C Tax invoices and adjustment notes
29-1 What this Division is about
This Division tells you the tax periods to which your taxable supplies, creditable acquisitions, creditable importations and adjustments are attributable. You need to know this to work out your net amounts under Part 2–4.
Note: This Division does not deal with your taxable importations, because they are not attributed to tax periods. See section 33–15 for payment of GST on taxable importations.
Subdivision 29-A — The attribution rules
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.
29–10 Attributing the input tax credits for your creditable acquisitions
(1) The input tax credit to which you are entitled for a *creditable acquisition is attributable to:
(a) the tax period in which you provide any of the *consideration for the acquisition; or
(b) if, before you provide any of the consideration, an *invoice is issued relating to the acquisition — 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, you provide all of the *consideration for a *creditable acquisition — the input tax credit for the acquisition is attributable to that tax period; or
(b) if, in a tax period, you provide part of the consideration — the input tax credit for the acquisition is attributable to that tax period, but only to the extent that you provided the consideration in that tax period; or
(c) if, in a tax period, none of the consideration is provided — none of the input tax credit for the acquisition is attributable to that tax period.
(3) If you do not hold a *tax invoice for a *creditable acquisition when you give to the Commissioner a *GST return for the tax period to which the input tax credit (or any part of the input tax credit) on the acquisition would otherwise be attributable:
(a) the input tax credit (including any part of the input tax credit) is not attributable to that tax period; and
(b) the input tax credit (or part) is attributable to the first tax period for which you give to the Commissioner a GST return at a time when you hold that tax invoice.
However, this subsection does not apply in circumstances of a kind determined in writing by the Commissioner to be circumstances in which the requirement for a tax invoice does not apply.
For the giving of GST returns to the Commissioner, see Division 31.
(4) If the *GST return for a tax period states a *net amount that does not take into account an input tax credit attributable to that tax period:
(a) the input tax credit is not attributable to that tax period; and
(b) the input tax credit is attributable to the first tax period for which you give the Commissioner a GST return that does take it into account.
Note: Section 93-5 may provide a time limit on your entitlement to an input tax credit.
29–15 Attributing the input tax credits for your creditable importations
(1) The input tax credit to which you are entitled for a *creditable importation is attributable to the tax period in which you pay the GST on the importation.
(2) However, if paragraph 33–15(1)(b) applies to payment of the GST on the importation, the input tax credit is attributable to the tax period in which the liability for the GST arose.
29–20 Attributing your adjustments
(1) An *adjustment that you have is attributable to the tax period in which you become aware of the adjustment.
(2) However, if you *account on a cash basis, and the *adjustment arises from an *adjustment event as a result of which you are liable to provide *consideration, then:
(a) if, in a tax period, all of the consideration is provided — the *adjustment is attributable to that tax period; or
(b) if, in a tax period, part of the consideration is provided — the adjustment is attributable to that tax period, but only to the extent that the consideration is provided in that tax period; or
(c) if, in a tax period, none of the consideration is provided — none of the adjustment is attributable to that tax period.
(3) If:
(a) you have a *decreasing adjustment arising from an *adjustment event; and
(b) you do not hold an *adjustment note for the adjustment when you give to the Commissioner a *GST return for the tax period to which the adjustment (or any part of the adjustment) would otherwise be attributable;
then:
(c) the adjustment (including