INCOME TAX ASSESSMENT ACT 1997 (ARCHIVE)
If:
(a) section 10 of the A New Tax System (Goods and Services Tax Transition) Act 1999 applies in an income year that ends after 30 November 1999 and before 1 July 2000 in relation to a * creditable acquisition that you will make on or after 1 July 2000; and
(b) because of the application of that section, an * input tax credit is attributable to your first *tax period after 1 July 2000;
you cannot deduct under this Act an amount equal to the input tax credit.
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