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Edited version of your written advice
Authorisation Number: 1012820999882
Ruling
Subject: GST and apportionment of input tax credits
Question 1
Can the Credit Union use the apportionment methodology to determine the extent to which it makes acquisitions for a creditable purpose for the purposes of subsection 11-15(2) of the A New Tax System (Goods and Services Tax) Act 1999?
Answer
Yes, the Credit Union can use the apportionment methodology to determine the extent to which it makes acquisitions for a creditable purpose.
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 section 11-15.