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 69 - Non-deductible expenses  

Subdivision 69-A - Non-deductible expenses generally  

69-10   Amounts of input tax credits for creditable acquisitions or creditable importations of certain cars  

(1)    


If:


(a) you are entitled to an input tax credit for a * creditable acquisition or * creditable importation of a * car ; and


(b) you are not, for the purposes of the A New Tax System (Luxury Car Tax) Act 1999 , entitled to quote an * ABN in relation to the supply to which the creditable acquisition relates, or in relation to the importation, as the case requires; and


(c) the * GST inclusive market value of the car exceeds the * car limit for the * financial year in which you first used the car for any purpose;

the amount of the input tax credit on the acquisition or importation is the amount of GST payable on the supply or importation of the car up to 1/11 of that limit.


(1A)    
(Repealed by No 156 of 2000)


(2)    


However, if:


(a) the supply of the car is * GST-free to any extent under Subdivision 38-P ; or


(b) the importation of the car is non-taxable to any extent under paragraph 13-10(b) because it would have been GST-free to any extent under Subdivision 38-P if it had been a supply;

you are not entitled to the input tax credit for the acquisition or importation.


(3)    
If your acquisition or importation is * partly creditable , the input tax credit is reduced to the extent (expressed as a percentage) to which the acquisition or importation is made for a * creditable purpose .


(4)    
This section does not apply in relation to:


(a) the acquisition or importation of a * car that is not a * luxury car because of subsection 25-1(2) of the A New Tax System (Luxury Car Tax) Act 1999 ; or

Note:

Emergency vehicles, cars fitted to transport disabled people, non-passenger commercial vehicles, motor homes and campervans are not luxury cars under that subsection.


(b) the acquisition of a car by lease or hire.


(5)    
This section has effect despite sections 11-25 and 15-20 (which are about the amount of input tax credits on creditable acquisitions and creditable importations).



 

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.