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Legislative Instrument

Goods and Services Tax: Particular Attribution Rules Where Total  Consideration is Not Known Determination 2017

I, Timothy Dyce, Deputy Commissioner of Taxation, make this determination under subsection 29-25(1) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act)

Timothy Dyce
Deputy Commissioner of Taxation
Dated: 12/04/2017

   1. Name of determination

  This determination is the Goods and Services Tax: Particular Attribution Rules Where Total Consideration Not Known Determination 2017.

  2.     Commencement

  This determination commences on 1 April 2017.

  3.     Repeal of previous determination

  This determination replaces A New Tax System (Goods and Services Tax) (Particular Attribution Rules Where Total Consideration Not Known) Determination (No. 1) 2000 - F2006B11593 (previous determination), registered on 17 November 2006. The previous determination is repealed from 1 April 2017.

  4.     Application

    (1)   This determination applies where you make a taxable supply or creditable acquisition and:
       (a)   you do not know the total consideration when any part of the consideration is paid or received or when an invoice is issued relating to the supply or acquistion,, and

       (b)   the ascertainment of the total consideration depends on a future event or events that is not entirely within your control

    and either:

       (c)    an invoice is issued relating to the supply or acquisition; or

       (d)   any consideration is received or paid for the supply or acquisition.

     (2)   This determination applies only if you do not account on a cash basis.

     (3)   This determination is substantially the same as the determination that it replaces.. An entity that satisfied the requirements of the previous determination and makes a taxable supply or creditable acquisition as described in this determination will satisfy the requirements of this determination.

  5.     Particular attribution rule for GST payable on a taxable supply occurring before the supplier knows the total consideration

    (1)   Where, in a tax period, you make a taxable supply before you know the total consideration, and an invoice is issued relating to the taxable supply which states an amount of consideration and:

        (a)   no consideration is received for the supply in that tax period – the GST on the supply is attributable to that tax period but only to the extent of the amount of the consideration stated in the invoice, or

        (b)   consideration is received for the supply in that tax period – the GST on the supply is attributable to that tax period but only to the extent:

              (i)            where the consideration received is less than or equal to the amount of the consideration stated in the invoice – the amount of consideration stated in the invoice, or

              (ii)            where the consideration received is more than the amount stated in the invoice – the amount of the