A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 1 Indirect Tax Acts
Part 1 Amendment of the A New Tax System (Goods and Services Tax) Act 1999
96 After section 84-10
84-12 The amount of GST on offshore intangible supplies
(1) The amount of GST on a supply that is a *taxable supply because of section 84-5 is 10% of the *price of the supply.
(2) This section has effect despite section 9-70 (which is about the amount of GST on taxable supplies).
84-13 The amount of input tax credits relating to offshore intangible supplies
(1) The amount of the input tax credit for a *creditable acquisition that relates to a supply that is a *taxable supply because of section 84-5 is as follows:
(Full input tax credit * Extent of creditable purpose * Extent of consideration)
extent of consideration is the extent to which you provide, or are liable to provide, the *consideration for the acquisition, expressed as a percentage of the total consideration for the acquisition.
extent of creditable purpose is the extent to which the *creditable acquisition is for a *creditable purpose, expressed as a percentage of the total purpose of the acquisition.
full input tax credit is 11/10 of what would have been the amount of the input tax credit for the acquisition if:
(a) the supply had been a *taxable supply otherwise than because of section 84-5; and
(b) the acquisition had been made solely for a creditable purpose; and
(c) you had provided, or had been liable to provide, all of the consideration for the acquisition.
(2) This section has effect despite sections 11-25 and 11-30 (which are about the amount of input tax credits for creditable acquisitions).