A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 156.17 Application of Division 58 to progressive or periodic supplies and acquisitions
A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 156.17
Application of Division 58 to progressive or periodic supplies and acquisitions(1) A supply that is made:
(a) for a period or on a progressive basis; and
(b) for * consideration that is to be provided on a progressive or periodic basis;
is treated, for the purposes of Division 58 (which is about representatives of incapacitated entities), as if each progressive or periodic component of the supply were a separate supply.
(2) An acquisition that is made:
(a) for a period or on a progressive basis; and
(b) for * consideration that is to be provided on a progressive or periodic basis;
is treated, for the purposes of Division 58 (which is about
representatives of incapacitated entities), as if each progressive or periodic
component of the acquisition were a separate acquisition.