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Edited version of your written advice
Authorisation Number: 1012626285738
Ruling
Subject: GST and reduced input tax credits for acquisitions made by a Liquidator
Question
Are any of the services acquired by the Liquidators of an incapacitated entity during their appointment from two entities, reduced credit acquisitions of 'Debt Collection' under item 17 of Regulations 70-5.02 (Item 17) of the A New Tax System (Goods and Services Tax) Regulations 1999 (GST Regulations) for which the Liquidators are entitled to claim a reduced input tax credit (RITC) in their capacity as the representative of the incapacitated entity?
Answer
The Commissioner of Taxation ruled that, yes, to the extent that the services acquired from the two entities can be identified as Debt Collection, they fall within the scope of Item 17 for which the Liquidators are entitled to claim a RITC in their capacity as the representatives of the incapacitated entity.
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