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Edited version of private advice
Authorisation Number: 1051617667301
Date of advice: 18 December 2019
NOTICE
This is an edited version of a revised private ruling. It replaces the edited version of the private ruling with the authorisation number 1012592049953.
Your private ruling has been replaced
Ruling
Subject: GST and methodology to determine the extent of creditable purpose of acquisitions
The Commissioner issued a revised private ruling that the taxpayer's apportionment methodology is not a fair and reasonable basis for determining the extent of creditable purpose of its acquisitions because the methodology does not give a fair and reasonable reflection of the extent of the relationships between the relevant acquisitions and supplies made by the taxpayer.
This ruling applies to:
tax periods commencing on or after 1 January 2020
Relevant legislative provisions
A New Tax System (Goods and Services Tax) Act 1999 section 11-5
A New Tax System (Goods and Services Tax) Act 1999 section 11-15
A New Tax System (Goods and Services Tax) Act 1999 section 15-5
A New Tax System (Goods and Services Tax) Act 1999 section 15-10
Taxation Administration Act 1953 subsection 359-55(1) of Schedule 1
Taxation Administration Act 1953 subsection 359-55(5) of Schedule 1