(a) you are entitled to an input tax credit for a * creditable acquisition or * creditable importation of a * car; and
(b) you are not, for the purposes of the A New Tax System (Luxury Car Tax) Act 1999 , entitled to quote an * ABN in relation to the supply to which the creditable acquisition relates, or in relation to the importation, as the case requires; and
(c) the * GST inclusive market value of the car exceeds the * car limit for the * financial year in which you first used the car for any purpose;
the amount of the input tax credit on the acquisition or importation is the amount of GST payable on the supply or importation of the car up to 1 / 11 of that limit.
(2) However, if:
(a) the supply of the car is * GST-free to any extent under Subdivision 38-P; or
(b) the importation of the car is non-taxable to any extent under paragraph 13-10(b) because it would have been GST-free to any extent under Subdivision 38-P if it had been a supply;
you are not entitled to the input tax credit for the acquisition or importation.
(3) If your acquisition or importation is * partly creditable, the input tax credit is reduced to the extent (expressed as a percentage) to which the acquisition or importation is made for a * creditable purpose.
(4) This section does not apply in relation to:
(a) the acquisition or importation of a * car that is not a * luxury car because of subsection 25-1(2) of the A New Tax System (Luxury Car Tax) Act 1999 ; or
Note: Emergency vehicles, cars fitted to transport disabled people, non-passenger commercial vehicles, motor homes and campervans are not luxury cars under that subsection.
(b) the acquisition of a car by lease or hire.
(5) This section has effect despite sections 11- 25 and 15-20 (which are about the amount of input tax credits on creditable acquisitions and creditable importations).