A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-2
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Special rules mainly about supplies and acquisitions
Subdivision 84-A
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Offshore supplies that are taxable supplies, and
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reverse charged
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, under this Subdivision
84-30
Adjustments for acquisitions made solely for a creditable purpose
(1)
This section applies to an acquisition that relates to a supply if the supply would be a *taxable supply under section 84-5 if paragraph 84-5(1A)(b) were disregarded.
(2)
For the purpose of working out whether there is an *adjustment for the acquisition, and the amount of that adjustment, disregard paragraph 84-5(1A)(b) .
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 84 - Offshore supplies
View history note
Hide history noteThis section applies to an acquisition that relates to a supply if the supply would be a *taxable supply under section 84-5 if paragraph 84-5(1A)(b) were disregarded.
(2)
For the purpose of working out whether there is an *adjustment for the acquisition, and the amount of that adjustment, disregard paragraph 84-5(1A)(b) .
Note:
As a result, the adjustment (including the full input tax credit referred to in sections 129-70 and 129-75 ) is worked out assuming the supply is taxable and the acquisition fully creditable.
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