Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 37.1

    The provisions set out in the table contain special rules relating to the matters indicated.

 

Checklist of special rules
Item	For this case ...	See:
1AA	Accounting basis of charities etc.	Division   157
1	Agents and insurance brokers	Division   153
1A	Annual apportionment of creditable purpose	Division   131
1B	Annual tax periods	Division   151
2	Anti - avoidance	Division   165
3	Associates	Division   72
3A	Bad debts relating to transactions that are not taxable or creditable to the fullest extent	Division   136
4	Cancelled lay - by sales	Division   102
5	Cessation of registration	Division   138
6	Changes in the extent of creditable purpose	Division   129
7	Changing your accounting basis	Division   159
8	Company amalgamations	Division   90
8A	Compulsory third party schemes	Division   79
9	Customs security etc. given for taxable importations	Division   171
10	Deposits as security	Division   99
10A	Distributions from deceased estates	Division   139
10B	Excess GST	Division   142
11	Financial supplies (reduced credit acquisitions)	Division   70
11A	Fringe benefits provided by input taxed suppliers	Division   71
12	Gambling	Division   126
12A	Goods applied solely to private or domestic use	Division   130
12B	Government entities	Division   149
13	GST branches	Division   54
14	GST groups	Division   48
15	GST joint ventures	Division   51
15A	GST religious groups	Division   49
17	Importations without entry for home consumption	Division   114
18	Insurance	Division   78
18A	Limited registration entities	Division   146
19	Long - term accommodation in commercial residential premises	Division   87
20	Non - deductible expenses	Division   69
20A	Non - profit sub - entities	Division   63
20B	Non - residents making supplies connected with the indirect tax zone	Division   83
21	Offshore supplies	Division   84
21A	Payment of GST by instalments	Division   162
22	Payments of taxes	Division   81
23	Pre - establishment costs	Division   60
23A	Providing additional consideration under gross - up clauses	Division   133
24	Reimbursement of employees etc.	Division   111
25	Representatives of incapacitated entities	Division   58
26	Resident agents acting for non - residents	Division   57
28	Sale of freehold interests etc.	Division   75
29	Second - hand goods	Division   66
29AA	Settlement sharing arrangements	Division   80
29A	Simplified accounting methods for retailers and small enterprise entities	Division   123
29B	Stock on hand on becoming registered etc.	Division   137
30	Supplies and acquisitions made on a progressive or periodic basis	Division   156
30A	Supplies in return for rights to develop land	Division   82
31	Supplies in satisfaction of debts	Division   105
32	Supplies of going concerns	Division   135
33	Supplies of things acquired etc. without full input tax credits	Division   132
33A	Supply under arrangement covered by PAYG voluntary agreement	Division   113
34	Supplies partly connected with the indirect tax zone	Division   96
35	Taxis	Division   144
35AA	Tax - related transactions	Division   110
35A	Telecommunication supplies	Division   85
35B	Third party payments	Division   134
35C	Time limit on entitlements to input tax credits	Division   93
36	Tourist refund scheme	Division   168
36A	Tradex scheme goods	Division   141
36AA	Valuable metals	Division   86
36B	Valuation of re - imported goods	Division   117
37	Valuation of taxable supplies of goods in bond	Division   108
38	Vouchers	Division   100

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.

Method statement

Step 1.   Work out, for each * taxable supply, what would, apart from this section, be the amount of GST on the supply.

Step 2.   If the amount for the supply has more decimal places than the number of decimal places allowed by the accounting system used to work out the amount, round the amount (up or down as appropriate) to that number of decimal places.

  Note:   Subsection   (4) gives further details of this rounding.

Step 3.   Work out the sum of the amounts worked out under step 1 and (if applicable) step 2 for each supply.

Step 4.   If the sum under step 3 includes a fraction of a cent, round the sum to the nearest cent (rounding 0.5 cents upwards).

A net amount is worked out for each tax period that applies to you.

Adjustments can be made to the net amount. Increasing adjustments increase your net amount, and decreasing adjustments decrease your net amount.

Table of Subdivisions

38 - A   Food

38 - B   Health

38 - C   Education

38 - D   Child care

38 - E   Exports and other cross - border supplies

38 - F   Religious services

38 - G   Activities of charities etc.

38 - I   Water and sewerage

38 - J   Supplies of going concerns

38 - K   Transport and related matters

38 - L   Precious metals

38 - M   Supplies through inwards duty free shops

38 - N   Grants of land by governments

38 - O   Farm land

38 - P   Cars for use by disabled people

38 - Q   International Mail

38 - R   Telecommunication supplies made under arrangements for global roaming in Australia

38 - S   Eligible emissions units

38 - T   Inbound intangible consumer supplies