A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 3 Income Tax Assessment Act 1997
Part 1 General
28 At the end of section 30-215
(4) For the purposes of items 3 and 4 of the table in subsection (3), the *GST inclusive market values of the property in question are reduced by 1/11 if you would have been entitled to an *input tax credit if:
(a) you had *acquired the property at the time you made the gift; and
(b) your acquisition had been for a *creditable purpose.