A New Tax System (Goods and Services Tax) (Particular Attribution Rules for Certain Motor Vehicle Incentive Payments Made to Motor Vehicle Dealers) Legislative Instrument 2015 (Cth)

Legislative Instrument

A New Tax System (Goods and Services Tax) (Particular Attribution Rules for Certain Motor Vehicle Incentive Payments Made to Motor Vehicle Dealers) Legislative Instrument 2015

I, Tim Dyce, Deputy Commissioner of Taxation, make this legislative instrument under subsection 29-25(1) of the A New Tax System (Goods and Services Tax) Act 1999 (GST Act). I am satisfied under paragraph 29-25(2)(b) of the GST Act that it is necessary to prevent the provisions of Division 29 and Chapter 4 applying in a way that is inappropriate in circumstances involving a supply or acquisition for which payment is made or an invoice is issued, but use, enjoyment or passing of title will, or may, occur at some time in the future.

Dated this 19 November 2015

Tim Dyce Deputy Commissioner of Taxation

1. Name of instrument

This legislative instrument is the A New Tax System (Goods and Services Tax) (Particular Attribution Rules for Certain Motor Vehicle Incentive Payments Made to Motor Vehicle Dealers) Legislative Instrument 2015.

2. Commencement

(a) This legislative instrument is taken to have commenced on 1 January 2015.

(b) This legislative instrument does not revoke, amend or vary any previous legislative instrument made by the Commissioner or a delegate.

3. Application

This legislative instrument applies if:

(a) a motor vehicle dealer either:

(i) receives a third party motor vehicle incentive payment in a tax period; or

(ii) issues an invoice for a third party motor vehicle incentive payment in a tax period, before receiving the payment; and

(b) the third party motor vehicle incentive payment relates to the supply of a motor vehicle by the motor vehicle dealer where use, enjoyment and passing of title will occur in a later tax period; and