Commonwealth Numbered Regulations

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) REGULATIONS 2019 (F2019L00417) - REG 70.5.01

                   The objects of this Division are:

                     (a)  to specify the kind of acquisitions that relate to making financial supplies that can give rise to an entitlement to a reduced input tax credit; and

                     (b)  to specify the percentage to which the input tax credit is reduced.