House of Representatives

Tax Laws Amendment (2010 GST Administration Measures No. 2) Bill 2010

Explanatory Memorandum

Circulated By the Authority of the Treasurer, the Hon Wayne Swan MP

[1]
It should be noted, however, that it is still necessary for a particular entity to be able to demonstrate it has made the relevant acquisition in order for a creditable acquisition to arise. This requirement is not modified by the grouping provisions in section 48-45 as these only modify the entity that is entitled to the credit and how creditable purpose is determined. If no entity within a group at the appropriate time can demonstrate they are, or were, entitled to a credit then it cannot be claimed.


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