Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 70.10

Extended meaning of creditable purpose

  (1)   The fact that a * reduced credit acquisition relates to making * financial supplies does not stop it being for a * creditable purpose, to the extent that it relates to making financial supplies.

  (2)   The fact that you * apply a * reduced credit acquisition in making * financial supplies does not stop it being applied for a * creditable purpose, to the extent that it relates to making financial supplies.

  (3)   This section has effect despite sections   11 - 15 and 129 - 50 (which are about the meaning of creditable purpose).


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