Document ID: chunk:federal_register_of_legislation:C2014C00710:clause:3_10
Version: federal_register_of_legislation:C2014C00710
Segment Type: clause
Provision Reference: sch 3 cl 10
Character Range: 57319–58014

10  After Division 157
Insert:

Division 158—Hire purchase agreements

158‑1  What this Division is about
      If you account on a cash basis, you are treated as if you do not account on a cash basis for any acquisition made under a hire purchase agreement.

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.