Commonwealth Consolidated Acts

[Index] [Table] [Search] [Search this Act] [Notes] [Noteup] [Previous] [Next] [Download] [Help]

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 84.30

Adjustments for acquisitions made solely for a creditable purpose

             (1)  This section applies to an acquisition that relates to a supply if the supply would be a * taxable supply under section 84-5 if paragraph 84-5(1A)(b) were disregarded.

             (2)  For the purpose of working out whether there is an * adjustment for the acquisition, and the amount of that adjustment, disregard paragraph 84-5(1A)(b).

Note:          As a result, the adjustment (including the full input tax credit referred to in sections 129-70 and 129-75) is worked out assuming the supply is taxable and the acquisition fully creditable.



AustLII: Copyright Policy | Disclaimers | Privacy Policy | Feedback