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  

Note:

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 70 - Financial supplies (reduced credit acquisitions)  

70-10   Extended meaning of creditable purpose  

(1)  
The fact that a * reduced credit acquisition relates to making * financial supplies does not stop it being for a * creditable purpose , to the extent that it relates to making financial supplies.

(2)  
The fact that you * apply a * reduced credit acquisition in making * financial supplies does not stop it being applied for a * creditable purpose , to the extent that it relates to making financial supplies.

(3)  
This section has effect despite sections 11-15 and 129-50 (which are about the meaning of creditable purpose).


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