Commonwealth Numbered Regulations

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) REGULATIONS 2019 (F2019L00417) - REG 168.5.15

             (1)  For the purposes of subsection 168-5(2) of the Act, this section applies if an acquirer:

                     (a)  lodges a payment authority at a TRS verification facility when the acquirer is leaving the indirect tax zone; and

                     (b)  includes with the authority instructions for paying an amount to the acquirer by:

                              (i)  crediting the amount to a credit card account or an Australian bank account; or

                             (ii)  posting a cheque for the amount to a nominated address.

             (2)  The acquirer must be paid the amount in accordance with the instructions given with the authority.

             (3)  The payment must be made within 60 days after the payment authority is lodged.