Goods and Services Tax Act 1993 · 2020 Revised Edition · Part 6A · Changes in Tax Charged
39E. Accounting of tax at new rate
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Where section 39C applies, any tax chargeable at the new rate on the separate supply must be accounted for in the prescribed accounting period in which the earliest of the following falls:
the date of any new invoice for the amount on which the tax at the new rate is charged;
the date any consideration is received towards the amount on which the tax at the new rate is charged; (c)the last day of the period of 14 days or any longer period that the Comptroller may allow, after the date of the specified change.
Despite subsection (1), where a recipient applies section 11C(3) to its reverse charge supplies, the recipient must account for any tax chargeable at the new rate (less any tax on the supply already accounted for) on each reverse charge supply in the prescribed accounting period in which the earlier of the following falls for that supply:
the date any consideration is paid by the recipient towards the amount on which the tax at the new rate is chargeable;
the last day of the period of 14 days or any longer period that the Comptroller may allow, after the date of the specified change.
Despite subsection (1), where a recipient makes an election under section 11C(8) in relation to its reverse charge supplies, the recipient must account for any tax chargeable at the new rate (less any tax on the supply already accounted for) on each reverse charge supply in the prescribed accounting period in which the following falls for that supply:
reverse charge supply
“reverse charge supply” means a supply of services treated as having been made by the recipient of those services under section 14(2);
if the day immediately after the end of the longer period is on or after the date of the specified change — that day;
if the day immediately after the end of the longer period is before the date of the specified change — the last day of the period of 14 days or any longer period that the Comptroller may allow, after the date of the specified change.