A New Tax System (Goods and Services Tax) Act 1999
Note:Division 129 - Changes in the extent of creditable purpose Subdivision 129-C - When adjustments for acquisitions and importations arise 129-45 Gifts to gift-deductible entities (1)
If you are or were entitled to an input tax credit for the * creditable acquisition of a thing, an * adjustment does not arise under this Subdivision merely because you supply the thing as a gift to an * endorsed charity or * gift-deductible entity .
(Repealed by No 169 of 2012)
Subsection (1) does not apply in relation to a thing that you supply to a * gift-deductible entity endorsed as a deductible gift recipient (within the meaning of the * ITAA 1997 ) under section 30-120 of the ITAA 1997, unless:
(a) the entity is:
(i) an * endorsed charity ; or
(ii) a fund, authority or institution of a kind referred to in paragraph 30-125(1)(b) of the ITAA 1997; or
(b) each purpose to which the supply relates is a * gift-deductible purpose of the entity.
This subsection excludes from this section supplies to certain (but not all) gift-deductible entities that are only endorsed for the operation of a fund, authority or institution. However, supplies can be covered by this section if they relate to the principal purpose of the fund, authority or institution.
Disclaimer and notice of copyright applicable to materials provided by CCH Australia Limited
CCH Australia Limited ("CCH") believes that all information which it has provided in this site is accurate and reliable, but gives no warranty of accuracy or reliability of such information to the reader or any third party. The information provided by CCH is not legal or professional advice. To the extent permitted by law, no responsibility for damages or loss arising in any way out of or in connection with or incidental to any errors or omissions in any information provided is accepted by CCH or by persons involved in the preparation and provision of the information, whether arising from negligence or otherwise, from the use of or results obtained from information supplied by CCH.
The information provided by CCH includes history notes and other value-added features which are subject to CCH copyright. No CCH material may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way, except that you may download one copy for your personal use only, provided you keep intact all copyright and other proprietary notices. In particular, the reproduction of any part of the information for sale or incorporation in any product intended for sale is prohibited without CCH's prior consent.