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

Div 84 heading substituted by No 77 of 2017, s 3 and Sch 1 item 25, effective 1 July 2017. For application provisions, see note under Div 146 heading. The heading formerly read:

Division 84 - Offshore supplies other than goods or real property

Former Subdiv 84-D repealed by No 77 of 2017, s 3 and Sch 1 item 42, effective 1 July 2017. For application provisions, see note under Div 146 heading.

Former Subdiv 84-D inserted by No 52 of 2016, s 3 and Sch 1 item 6, applicable in relation to working out net amounts for tax periods starting on or after 1 July 2017. See note under Subdiv 38-T heading.

S 84-145 repealed by No 77 of 2017, s 3 and Sch 1 item 42, effective 1 July 2017. For application provisions, see note under Div 146 heading. S 84-145 formerly read:

84-145 Limited registration entities cannot make creditable acquisitions  
(1)
An acquisition made by a *limited registration entity is not a *creditable acquisition if an election under subsection 84-140(2) is in effect for the entity when the acquisition is made.

(2)
However, subsection (1) does not apply, and is taken never to have applied, to the acquisition if you revoke the election under subsection 84-140(5) during:

(a) the *financial year in which the acquisition is made; or

(b) the next financial year.

(3)
This section has effect despite section 11-5 (which is about what is a creditable acquisition).

S 84-145 inserted by No 52 of 2016, s 3 and Sch 1 item 6, applicable in relation to working out net amounts for tax periods starting on or after 1 July 2017. See note under Subdiv 38-T heading.