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  • 1.8.1 Is it the manager's responsibility to claim input tax credits on behalf of the body corporate or do the owners claim their own?

    For source of ATO view, refer to paragraphs 30 to 34 and 222 to 232 of MT 2006/1 The New Tax System: the meaning of entity carrying on an enterprise for the purposes of entitlement to an Australian business number

    ATO position

    A body corporate is considered to be a separate entity acting on behalf of its members. Where the body corporate makes a creditable acquisition, the right to claim a credit on that acquisition accrues to the entity (that is the body corporate) making the acquisition. It will be the manager's responsibility to claim the credit which is creditable to the body corporate.

      Last modified: 05 Aug 2016QC 16473