Indirect tax ebook - Australia

General tax application/Time of supply 

Time of supply rules
GST is accounted for at the following times:

General rules
An entity that accounts for GST on a cash basis accounts for the GST payable on a supply that it makes in the same reporting period that payment is received. If only a part payment is received for a supply during a reporting period, GST needs to be accounted for only on the part payment received.

An entity that accounts for GST on a non-cash basis must account for the full amount of GST payable on a supply that it has made at the earlier of issuing an invoice for the supply or receiving any payment for the supply.


Progressive or periodic supplies
The GST on a progressive or periodic supply is accounted for as if each component of the progressive or periodic supply is a separate supply.

5.3 GST-free and input taxed supplies

No GST is charged on GST-free or input taxed supplies. 
 


 

• Introduction
• Scope
• Registration
• Tax rates
• Reporting & filing
• General tax application/Time of supply
• Other local requirements