A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-4
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Special rules mainly about net amounts and adjustments
Despite section 129-5 , an adjustment cannot arise under this Division for an acquisition or importation that * relates to business finance , unless the acquisition or importation had a * GST exclusive value of more than $10,000.
(2)
Despite section 129-5 , an adjustment cannot arise under this Division for an acquisition or importation that does not * relate to business finance , unless the acquisition or importation had a * GST exclusive value of more than $1,000.
(3)
An acquisition or importation relates to business finance if, at the time of the acquisition or importation, it:
(a) related solely or partly to making * financial supplies ; and
(b) was not solely or partly of a private or domestic nature.
Note:
The special rules in this Part mainly modify the operation of Part 2-4 , but they may affect other Parts of Chapter 2 in minor ways.
Division 129 - Changes in the extent of creditable purpose Subdivision 129-A - General 129-10 Adjustments do not arise under this Division for acquisitions and importations below a certain value (1)Despite section 129-5 , an adjustment cannot arise under this Division for an acquisition or importation that * relates to business finance , unless the acquisition or importation had a * GST exclusive value of more than $10,000.
(2)
Despite section 129-5 , an adjustment cannot arise under this Division for an acquisition or importation that does not * relate to business finance , unless the acquisition or importation had a * GST exclusive value of more than $1,000.
(3)
An acquisition or importation relates to business finance if, at the time of the acquisition or importation, it:
(a) related solely or partly to making * financial supplies ; and
(b) was not solely or partly of a private or domestic nature.
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