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  


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 71 - Fringe benefits provided by input taxed suppliers  

71-10   Importations by input taxed suppliers to provide fringe benefits  


An importation that solely or partly relates to making supplies that are * input taxed is not a * creditable importation if:

(a) the importation would (but for this section) be an importation of a kind referred to in paragraph 149A(2)(b) of the Fringe Benefits Tax Assessment Act 1986 ; and

(b) the importation specifically relates to the provision of a particular benefit (within the meaning of that Act) in respect of which * fringe benefits tax is or will be payable.


However, this section does not apply to an importation if:

(a) the only reason it relates to making supplies that are * input taxed is because it relates to making * financial supplies ; and

(b) you do not * exceed the financial acquisitions threshold .

This section has effect despite section 15-5 (which is about what is a creditable importation).

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