Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 102.10

             (1)  If an amount is retained or recovered in circumstances referred to in section 102-5:

                     (a)  the GST payable by you on a * taxable supply for which the amount is * consideration; or

                     (b)  the input tax credit to which you are entitled for a * creditable acquisition for which the amount is consideration;

is attributable to the tax period during which the amount was retained or recovered, as the case requires.

             (2)  This section has effect despite sections 29-5 and 29-10 (which are about attributing GST for taxable supplies and input tax credits for creditable acquisitions).