Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 129.50

             (1)  You * apply a thing for a creditable purpose to the extent that you apply it in * carrying on your * enterprise.

             (2)  However, you do not * apply a thing for a creditable purpose to the extent that:

                     (a)  the application relates to making supplies that are * input taxed; or

                     (b)  the application is of a private or domestic nature.

             (3)  To the extent that an * application relates to making * financial supplies through an * enterprise, or a part of an enterprise, that you * carry on outside the indirect tax zone, the application is not, for the purposes of paragraph (2)(a), treated as one that relates to making supplies that would be * input taxed.