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 84 - Offshore supplies  

Subdivision 84-A - Offshore supplies that are taxable supplies, and " reverse charged " , under this Subdivision  

84-30   Adjustments for acquisitions made solely for a creditable purpose  


This section applies to an acquisition that relates to a supply if the supply would be a *taxable supply under section 84-5 if paragraph 84-5(1A)(b) were disregarded.


For the purpose of working out whether there is an *adjustment for the acquisition, and the amount of that adjustment, disregard paragraph 84-5(1A)(b) .

As a result, the adjustment (including the full input tax credit referred to in sections 129-70 and 129-75 ) is worked out assuming the supply is taxable and the acquisition fully creditable.

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