Document ID: chunk:federal_register_of_legislation:C2025C00126:section:14:p1
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 14 (pt 1/5)
Character Range: 45437–48344

14                                          you

3‑10  Identifying the defined term in a definition
  Within a definition, the defined term is identified by bold italics.

Division 4—Status of Guides and other non‑operative material

4‑1  Non‑operative material
  In addition to the operative provisions themselves, this Act contains other material to help you identify accurately and quickly the provisions that are relevant to you and to help you understand them.
  This other material falls into 2 main categories.

4‑5  Explanatory sections
  One category is the explanatory section in many Divisions. Under the section heading "What this Division is about", a short explanation of the Division appears in boxed text.
  Explanatory sections form part of this Act but are not operative provisions. In interpreting an operative provision, explanatory sections may only be considered for limited purposes. They are set out in section 182‑10.

4‑10  Other material
  The other category consists of material such as notes and examples. These also form part of the Act. They are distinguished by type size from the operative provisions (except for formulas), but are not kept separate from them.

Chapter 2—The basic rules

Division 5—Introduction

5‑1  What this Chapter is about

      This Chapter sets out the basic rules for the GST. In particular, these rules will tell you:
         • where liability for GST arises;
         • where entitlements to input tax credits arise;
         • how the amounts of GST and input tax credits are combined to work out the amount payable by you or to you;
         • when and how that amount is to be paid.

5‑5  The structure of this Chapter
  The diagram on the next page shows how the basic rules in this Chapter relate to each other. It also shows their relationship with:
 • the exemptions (Chapter 3)—these provisions exempt from the GST what would otherwise be taxable; and
 • the special rules (Chapter 4)—these provisions modify the basic rules in particular situations, often in quite limited ways.

Part 2‑1—The central provisions

Division 7—The central provisions

7‑1  GST and input tax credits
 (1) GST is payable on *taxable supplies and *taxable importations.
 (2) Entitlements to input tax credits arise on *creditable acquisitions and *creditable importations.
For taxable supplies and creditable acquisitions, see Part 2‑2.
For taxable importations and creditable importations, see Part 2‑3.

7‑5  Net amounts
  Amounts of GST and amounts of input tax credits are set off against each other to produce a *net amount for a tax period (which may be altered to take account of *adjustments).
For net amounts (including adjustments to net amounts), see Part 2‑4.

7‑10  Tax periods
  Every entity that is *registered, or *required to be registered, has tax periods applying to it.
For registration, see Part 2‑5.
For tax periods, see Part 2‑6.