A New Tax System (Goods and Services Tax) Act 1999
Note:Division 129 - Changes in the extent of creditable purpose Subdivision 129-C - When adjustments for acquisitions and importations arise 129-45 Gifts to gift-deductible entities (1)
If you are or were entitled to an input tax credit for the * creditable acquisition of a thing, an * adjustment does not arise under this Subdivision merely because you supply the thing as a gift to an * endorsed charity or * gift-deductible entity .
(Repealed by No 169 of 2012)
Subsection (1) does not apply in relation to a thing that you supply to a * gift-deductible entity endorsed as a deductible gift recipient (within the meaning of the * ITAA 1997 ) under section 30-120 of the ITAA 1997, unless:
(a) the entity is:
(i) an * endorsed charity ; or
(ii) a fund, authority or institution of a kind referred to in paragraph 30-125(1)(b) of the ITAA 1997; or
(b) each purpose to which the supply relates is a * gift-deductible purpose of the entity.
This subsection excludes from this section supplies to certain (but not all) gift-deductible entities that are only endorsed for the operation of a fund, authority or institution. However, supplies can be covered by this section if they relate to the principal purpose of the fund, authority or institution.