Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The amount of an input tax credit for a * creditable acquisition of a * reduced credit acquisition is an amount equal to the GST payable on the supply of the acquisition multiplied by the percentage specified under subsection 70 - 5(2) for acquisitions of that kind.
(2) However, the amount of such an input tax credit is further reduced if the acquisition is only * partly creditable.
(3) This section has effect despite section 11 - 25
(which is about the amount of input tax credits).