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(1) Except as otherwise provided in this Act or Regulations, a supply of goods or services occurs,

(a) where the goods or services are applied to own use, on the date on which the goods or services are first applied to own use; .

(b) where the goods or services are supplied by way of gift, on the date on which ownership in the goods passes or the performance of the services is completed;

(c) in any other case, the earliest of the dates on which

(i) the goods are removed from the premises of the taxable person, or from other premises where the goods are under the taxable person's control;

(ii) the goods are made available to the person to whom they are supplied;

(iii) the performance of services is completed;

(iv) receipt of payment is made; or

(v) a tax invoice or sales receipt is issued.

(2) Where under subparagraphs (iv) and (v) of paragraph (c) of subsection (1), payment is received or a tax invoice or sales receipt is issued for part of the supply, this section applies only to the part of the supply represented by the payment or the tax invoice.

(3) Where metered supplies are made on a continuous basis, the time of supply is at each meter reading.

(4) The supply of goods under a hire purchase agreement or finance lease occurs on the date the goods are made available under the agreement or lease.

(5) Where

(a) goods are supplied under a rental agreement, or

(b) goods or services are supplied under an agreement or law which provides for periodic payments, the goods or services shall be considered as successively supplied for successive parts of the period of the agreement or as determined by that law, and each successive supply occurs on the date on which payment is due or received or that the invoice is issued whichever date is earlier.

(6) For the purposes of this section, where two or more payments are made or are to be made for a supply of goods or services, other than a supply to which subsection (4) or (5) applies, each payment shall be regarded as made for a separate supply to the extent of the amount of the payment on the earlier of the dates that the payment is due or received.

(7) In this section, the term "rental agreement" means any agreement for the letting of goods other than a hire purchase agreement or finance lease.

(8) Where the supply of goods or services is incidental to another supply, the time of supply of the incidental supply shall be considered to be the same as the time of supply for the main goods or services.

(9) A supply of goods in accordance with a lay-away agreement occurs when the goods are delivered to the purchaser.

(10) A supply of goods that have been repossessed under section 21 occurs

(a) when the goods are repossessed; or

(b) where the debtor may under a law be reinstated with that debtor's rights and obligations under the credit agreement, the day after the last day of any period during which the debtor may under that law be so reinstated.

(11) A supply of goods made through a coin-operated machine occurs when the supplier withdraws the consideration from the coin-operated machine.

(12) The forfeit of a deposit, other than on a returnable container, occurs when the deposit is forfeited.

(13) To the extent that the issuance of a token, voucher, gift certificate, or stamp referred to in section 30(2) is a supply, the supply occurs when the token, voucher, gift certificate, or stamp is issued.

(14) The Minister may, by legislative instrument, make Regulations to prescribe rules to determine the time of a supply of particular goods or services.