Regulation 28
De minimis rule
of Goods and Services Tax (General) Regulations 1993
Subsidiary LegislationIn forceProvision 31 of 188
Regulation 28
Where in any prescribed accounting period or in any longer period, the total value of all exempt supplies made by a taxable person does not exceed both —
(a)
the average of $40,000 per month; and
(b)
an amount equal to 5% of the total value of all non‑specified taxable supplies and exempt supplies made in that period,then all exempt input tax in that period is to be treated as attributable to taxable supplies.