A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2 , but they may affect other Parts of Chapter 2 in minor ways.

Division 93 - Time limit on entitlements to input tax credits  

93-10   Exceptions to time limit on entitlements to input tax credits  

(1)    
(Repealed by No 39 of 2012)


(2)    
(Repealed by No 39 of 2012)


(3)    
(Repealed by No 39 of 2012)



Amendment of assessments in relation to supplies

(4)    


You do not cease under section 93-5 to be entitled to an input tax credit if:


(a) the input tax credit is for a * creditable acquisition that relates to making a supply; and


(b) during the period of 4 years mentioned in subsection 93-5(1) , a * net amount of yours is * assessed on the basis that the supply is * input taxed ; and


(c) after the end of that 4-year period, the Commissioner amends the assessment of your net amount for the tax period to which the supply is attributable under section 155-35 , 155-45 or 155-50 , or paragraph 155-60(a) or (b) , in Schedule 1 to the Taxation Administration Act 1953 on the basis that the supply is not input taxed; and


(d) the input tax credit is taken into account in an assessment of a net amount of yours (the credit assessment ):


(i) after the end of that 4-year period; and

(ii) at a time when the Commissioner may amend the assessment of your net amount for the tax period mentioned in subsection 93-5(1) of this Act (whether the credit assessment or another assessment) under Subdivision 155-B in Schedule 1 to the Taxation Administration Act 1953 on the basis that you are entitled to the input tax credit.


Request to treat document as tax invoice

(5)    


If:


(a) you requested the Commissioner to treat a document under subsection 29-70(1B) as a * tax invoice for the purposes of attributing an input tax credit to a tax period; and


(b) you made the request before the end of the 4-year period mentioned in subsection 93-5(1) in relation to the tax period; and


(c) the Commissioner agrees to the request after the end of the 4-year period;

you do not cease under section 93-5 to be entitled to the input tax credit to the extent that, had the Commissioner agreed to the request before the end of the 4-year period, you would not cease under that section to be entitled to the credit.





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