House of Representatives

Tax Laws Amendment (2010 GST Administration Measures No. 2) Bill 2010

Explanatory Memorandum

Circulated By the Authority of the Treasurer, the Hon Wayne Swan MP


It should be noted, however, that it is still necessary for a particular entity to be able to demonstrate it has made the relevant acquisition in order for a creditable acquisition to arise. This requirement is not modified by the grouping provisions in section 48-45 as these only modify the entity that is entitled to the credit and how creditable purpose is determined. If no entity within a group at the appropriate time can demonstrate they are, or were, entitled to a credit then it cannot be claimed.


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