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Edited version of your written advice
Authorisation Number: 1013068609399
Date of advice: 21 September 2016
Ruling
Subject: GST and reduced input tax credits
The Commissioner has ruled on the following question.
Question
Is Entity A making a reduced credit acquisition under item 1 of the table in subregulation 70-5.02(2) of the A New Tax System (Goods and Services Tax) Regulations 1999 (GST Regulations) of the services supplied by Entity B under the relevant agreement between the two parties?
Answer
Yes.
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 section 9-5
A New Tax System (Goods and Services Tax) Act 1999 section 40-5
A New Tax System (Goods and Services Tax) Act 1999 Division 70
A New Tax System (Goods and Services Tax) Regulations 1999 subregulation 70-5.02(2)
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