Document ID: chunk:federal_register_of_legislation:F2017L00346:body:0:p2
Version: federal_register_of_legislation:F2017L00346
Segment Type: other
Provision Reference: 
Character Range: 2774–5484

part of the consideration has been received for a taxable supply – the GST payable on the supply is attributable to that tax period, but only to the extent of the consideration that you, the principal, become aware has been received; or

           (c)    if, in a tax period, you, the principal, are not aware that any of the consideration has been received for a taxable supply – none of the GST payable on the supply is attributable to that tax period.

  6.     Particular attribution rules for input tax credits that arise on creditable acquisitions that you make through an agent before you know the acquisitions have occurred

       (1)   The input tax credit to which you are entitled for a creditable acquisition that you make through an agent upon whom you have to rely for information to enable you to attribute the input tax credit is attributable to the earlier of:

           (a)   the tax period in which you, the principal, become aware that any of the consideration has been provided; or

           (b)   the tax period in which you, the principal, become aware that an invoice has been issued relating to the acquisition.

       (2)   However, if you account on a cash basis, then:

           (a)   if, in a tax period, you, the principal, become aware that you have provided 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, the principal, become aware that you have provided part of the consideration – the input tax credit for the acquisition is attributable to that tax period, but only to the extent of the consideration that you, the principal, are aware you have provided in that tax period; or

           (c)    if, in a tax period, you, the principal, are not aware that you have provided any of the consideration, none of the input tax credit for the acquisition is attributable to that tax period.

  7.     Particular attribution rules for Adjustments

       (1)   An adjustment you have in relation to a supply or acquisition made through an agent upon whom you have to rely for information to attribute the adjustment, is attributable to the tax period in which you, the principal, 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, you, the principal, become aware that you have provided all the consideration – the adjustment is attributable to that tax period; or

           (b)   if, in a tax period, you, the principal, become aware that you have