- Defines “payment” for GST purposes.
- Determines timing of supply and relevant tax period.
- Affects when output tax is returned or input tax is claimed.
- Impacts eligibility for secondhand goods input tax deduction.
Source: taxtechnical.ird.govt.nz
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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