GST – goods purchased on deferred payment terms
This Question We’ve Been Asked explains when a person registered for GST on a payments basis can claim an input tax deduction for goods purchased on deferred payment terms.
Goods and Services Tax Act 1985 - ss 2 (“hire purchase agreement”), 5(5), 9(1), (2), and (3), 19A, 20(3) and (3C)
Income Tax Act 2007, s YA 1 (“hire purchase agreement”)
Fair Trading Act 1986, s 36B