A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
-
The special rules
Part 4-4
-
Special rules mainly about net amounts and adjustments
If you are or were entitled to an input tax credit for the * creditable acquisition of a thing, an * adjustment does not arise under this Subdivision merely because you supply the thing as a gift to an * endorsed charity or * gift-deductible entity .
(2)
(Repealed by No 169 of 2012)
(3)
Subsection (1) does not apply in relation to a thing that you supply to a * gift-deductible entity endorsed as a deductible gift recipient (within the meaning of the * ITAA 1997 ) under section 30-120 of the ITAA 1997, unless:
(a) the entity is:
(b) each purpose to which the supply relates is a * gift-deductible purpose of the entity.
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-C - When adjustments for acquisitions and importations arise 129-45 Gifts to gift-deductible entities (1)If you are or were entitled to an input tax credit for the * creditable acquisition of a thing, an * adjustment does not arise under this Subdivision merely because you supply the thing as a gift to an * endorsed charity or * gift-deductible entity .
View history note
Hide history note(2)
(Repealed by No 169 of 2012)
(3)
Subsection (1) does not apply in relation to a thing that you supply to a * gift-deductible entity endorsed as a deductible gift recipient (within the meaning of the * ITAA 1997 ) under section 30-120 of the ITAA 1997, unless:
(a) the entity is:
(i) an * endorsed charity ; or
(ii) a fund, authority or institution of a kind referred to in paragraph 30-125(1)(b) of the ITAA 1997; or
(b) each purpose to which the supply relates is a * gift-deductible purpose of the entity.
Note:
This subsection excludes from this section supplies to certain (but not all) gift-deductible entities that are only endorsed for the operation of a fund, authority or institution. However, supplies can be covered by this section if they relate to the principal purpose of the fund, authority or institution.
This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.