INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-5 - RULES ABOUT DEDUCTIBILITY OF PARTICULAR KINDS OF AMOUNTS  

Division 27 - Effect of input tax credits etc. on deductions  

SECTION 27-30 (ARCHIVE)  

27-30   Input tax credits attributable because of the GST Transition Act  
If:


(a) section 10 of the A New Tax System (Goods and Services Tax Transition) Act 1999 applies in an income year that ends after 30 November 1999 and before 1 July 2000 in relation to a * creditable acquisition that you will make on or after 1 July 2000; and


(b) because of the application of that section, an * input tax credit is attributable to your first *tax period after 1 July 2000;

you cannot deduct under this Act an amount equal to the input tax credit.




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.