A T O home
Legal Database
Access the database 
Browse database
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version

A New Tax System (Goods and Services Tax) Act 1999

Chapter 2 - The basic rules  

Part 2-2 - Supplies and acquisitions  

Division 11 - Creditable acquisitions  

11-30  Acquisitions that are partly creditable  


An acquisition that you make is partly creditable if it is a *creditable acquisition to which one or both of the following apply:

(a) you make the acquisition only partly for a *creditable purpose;

(b) you provide, or are liable to provide, only part of the *consideration for the acquisition.


(Repealed by No 176 of 1999)


The amount of the input tax credit on an acquisition that you make that is *partly creditable is as follows:
Full input
tax credit
×Extent of creditable
×Extent of


extent of consideration is the extent to which you provide, or are liable to provide, the *consideration for the acquisition, expressed as a percentage of the total consideration for the acquisition.

extent of creditable purpose is the extent to which the *creditable acquisition is for a *creditable purpose, expressed as a percentage of the total purpose of the acquisition.

full input tax credit is what would have been the amount of the input tax credit for the acquisition if it had been made solely for a creditable purpose and you had provided, or had been liable to provide, all of the consideration for the acquisition.


For the purpose of working out the extent of the *consideration, so far as the consideration is not expressed as an amount of *money, take into account the *GST inclusive market value of the consideration.


 View history reference
The Commissioner may determine, in writing, one or more ways in which to work out, for the purpose of subsection (3), the extent to which a *creditable acquisition is for a *creditable purpose.


This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
Top of page
More information on page