Indirect Tax Legislation Amendment Act 2000 (92 of 2000)

Schedule 5   Financial supplies

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

4   At the end of section 15-10

Add:

(5) An importation is not treated, for the purposes of paragraph (2)(a), as relating to making supplies that would be *input taxed to the extent that:

(a) the importation relates to making a *financial supply consisting of a borrowing; and

(b) the borrowing relates to you making supplies that are not input taxed.