A New Tax System (Goods and Services Tax) Act. Australia

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СКАЧАТЬ of considerationis the extent to which you provide, or are liable to provide, the *consideration for the acquisition, expressed as a percentage of the total consideration for the acquisition.

      extent of creditable purpose is the extent to which the *creditable acquisition is for a *creditable purpose, expressed as a percentage of the total purpose of the acquisition.

      full input tax credit is what would have been the amount of the input tax credit for the acquisition if it had been made solely for a creditable purpose and you had provided, or had been liable to provide, all of the consideration for the acquisition.

      (4) For the purpose of working out the extent of the *consideration, so far as the consideration is not expressed as an amount of *money, take into account the *GST inclusive market value of the consideration.

      (5) The Commissioner may determine, in writing, one or more ways in which to work out, for the purpose of subsection (3), the extent to which a *creditable acquisition is for a *creditable purpose.

      11–99 Special rules relating to acquisitions

      Chapter 4 contains special rules relating to acquisitions, as follows:

      Checklist of special rules

      Item

      For this case…

      See:

      1A

      Agents and insurance brokers

      Division 153

      1B

      Annual apportionment of creditable purpose

      Division 131

      1

      Associates

      Division 72

      2

      Company amalgamations

      Division 90

      2A

      Compulsory third party schemes

      Division 79

      3

      Financial supplies (reduced credit acquisitions)

      Division 70

      3A

      Fringe benefits provided by input taxed suppliers

      Division 71

      4

      Gambling

      Division 126

      5

      GST groups

      Division 48

      6

      GST joint ventures

      Division 51

      6A

      GST religious groups

      Division 49

      7

      Insurance

      Division 78

      8

      Non-deductible expenses

      Division 69

      8A

      Offshore supplies other than goods or real property

      Division 84

      9

      Pre-establishment costs

      Division 60

      10

      Reimbursement of employees etc.

      Division 111

      10A

      Representatives of incapacitated entities

      Division 58

      11

      Resident agents acting for non-residents

      Division 57

      13

      Sale of freehold interests etc.

      Division 75

      14

      Second-hand goods

      Division 66

      15

      Settlement sharing arrangements

      Division 80

      16

      Time limit on entitlements to input tax credits

      Division 93

      Part 2–3—Importations

      Division 13—Taxable importations

      13-1 What this Division is about

      GST is payable on taxable importations. This Division defines taxable importations, states who is liable for the GST and describes how to work out the GST on importations.

      Note 1: This Division applies whether or not you are registered.

      Note 2: Things other than goods that are supplied overseas for use in Australia (and are therefore in that sense “imported”) are not taxable importations, but they can attract GST under Division 84.

      13-5 What are taxable importations?

      (1) You make a taxable importation if:

      (a) goods are imported; and

      (b) you enter the goods for home consumption (within the meaning of the Customs Act 1901).

      However, the importation is not a taxable importation to the extent that it is a *non-taxable importation.

      Note: There is no registration requirement for taxable importations, and the importer need not be carrying on an enterprise.

      (3) However, an importation of *money is not an importation of goods into Australia.

      13–10 Meaning of non-taxable importation

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