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This is a Bill, not an Act. For current law, see the Acts databases.
1998-99
The Parliament of
the
Commonwealth of
Australia
HOUSE OF
REPRESENTATIVES
Presented and read a first
time
A New Tax
System (Indirect Tax and Consequential Amendments) Bill (No. 2)
1999
No. ,
1999
(Treasury)
A Bill
for an Act to implement A New Tax System by amending legislation relating to
indirect tax, and by amending other legislation consequential on indirect tax
reform, and for other purposes
ISBN: 0642
418845
Contents
Part 1—Amendment of the A New Tax System (Goods and Services Tax) Act
1999 4
Part 2—Amendment of the A New Tax System (Luxury Car Tax) Act
1999 27
Part 3—Amendment of the A New Tax System (Wine Equalisation Tax) Act
1999 28
A New Tax System (Goods and Services Tax Transition) Act
1999 29
A New Tax System (Commonwealth-State Financial Arrangements) Act
1999 34
A New Tax System (Australian Business Number) Act
1999 36
Consular Privileges and Immunities Act
1972 37
Diplomatic Privileges and Immunities Act
1967 39
International Organisations (Privileges and Immunities) Act
1963 42
Overseas Missions (Privileges and Immunities) Act
1995 44
Income Tax Assessment Act
1997 48
Petroleum Resource Rent Tax Assessment Act
1987 48
A Bill for an Act to implement A New Tax System by
amending legislation relating to indirect tax, and by amending other legislation
consequential on indirect tax reform, and for other
purposes
The Parliament of Australia enacts:
This Act may be cited as the A New Tax System (Indirect Tax and
Consequential Amendments) Act (No. 2) 1999.
(1) Subject to this section, this Act commences on the day on which it
receives the Royal Assent.
Schedule 1—GST, Luxury Car Tax and Wine Equalisation
Tax
(2) Part 1 of Schedule 1 to this Act commences immediately after the
commencement of Part 1 of Schedule 1 (other than the items for which specific
commencement has been provided) to the A New Tax System (Indirect Tax and
Consequential Amendments) Act 1999.
(3) Part 2 of Schedule 1 to this Act commences immediately after the
commencement of Part 2 of Schedule 1 (other than the items for which specific
commencement has been provided) to the A New Tax System (Indirect Tax and
Consequential Amendments) Act 1999.
(4) Part 3 of Schedule 1 to this Act commences immediately after the
commencement of Part 3 of Schedule 1 (other than the items for which specific
commencement has been provided) to the A New Tax System (Indirect Tax and
Consequential Amendments) Act 1999.
Schedule 2—Indirect Tax Transition
(5) Schedule 2 is taken to have commenced immediately after the
commencement of Schedule 6 (other than the items for which specific commencement
has been provided) to the A New Tax System (Indirect Tax and Consequential
Amendments) Act 1999.
Schedule 3—Commonwealth-State financial arrangements
(6) Schedule 3 is taken to have commenced immediately after the
commencement of the A New Tax System (Commonwealth-State Financial
Arrangements) Act 1999.
Schedule 4—ABNs
(7) Schedule 4 commences at the same time as the commencement of Part 1 of
Schedule 1.
Schedules 5 and 6—Consequential amendments
(8) Schedules 5 and 6 commence immediately after the commencement of the
A New Tax System (Goods and Services Tax) Act 1999.
Subject to section 2, each Act that is specified in a Schedule to this
Act is amended or repealed as set out in the applicable items in the Schedule
concerned, and any other item in a Schedule to this Act has effect according to
its terms.
Part
1—Amendment of the A New Tax
System (Goods and Services Tax) Act 1999
1 At the end of subsection
9-30(1)
Add “or under a provision of another Act”.
2 Section 9-39 (after table item
8)
Insert:
|
8A |
Second-hand goods |
Division 66 |
3 Section 9-39 (at the end of the
table)
Add:
|
12 |
Telecommunication supplies |
Division 85 |
4 Section 23-99 (before table item
1)
Insert:
|
1A |
Government entities |
Division 149 |
5 Section 25-49 (before table item
1)
Insert:
|
1A |
Government entities |
Division 149 |
6 Section 25-99 (before table item
1)
Insert:
|
1A |
Government entities |
Division 149 |
7 Section 29-39 (table item
1)
After “Agents”, insert “and insurance
brokers”.
8 Section 29-39 (after table item
11)
Insert:
|
11A |
Second-hand goods |
Division 66 |
9 Paragraph 29-75(1)(a)
Repeal the paragraph, substitute:
(a) must be issued by the supplier of the
*taxable supply in the circumstances set out in
subsection (2); and
10 Paragraph 29-75(2)(b)
Repeal the paragraph, substitute:
(b) if the supplier has issued a *tax
invoice in relation to the supply (or the recipient has requested one) and the
supplier becomes aware of the adjustment before an adjustment note is
requested—within 28 days after becoming aware of that fact;
11 At the end of subsection
29-75(2)
Add “(in which case it must be issued by the
recipient)”.
12 Section 29-99 (table item
1)
After “Agents”, insert “and insurance
brokers”.
13 Section 37-1 (table item
1)
After “Agents”, insert “and insurance
brokers”.
14 Section 37-1 (after table item
12)
Insert:
|
12A |
Government entities |
Division 149 |
15 Section 37-1 (after table item
35)
Insert:
|
35A |
Telecommunication supplies |
Division 85 |
16 Section 38-385
Repeal the section, substitute:
A supply of *precious metal is
GST-free if:
(a) it is the first supply of that precious metal after its refining by,
or on behalf of, the supplier; and
(b) the entity that refined the precious metal is a
*refiner of precious metal; and
(c) the *recipient of the supply is a
*dealer in precious metal.
Note: Any other supply of precious metal is input taxed
under section 40-100.
17 Section 40-1
Omit “sets out”, substitute “provides
for”.
18 Subsections 40-5(2), (3) and
(4)
Repeal the subsections, substitute:
(2) Financial supply has the meaning given by the
regulations.
19 At the end of section
48-10
Add:
Note: For the membership requirements of a GST group of
government related entities, see section 149-25.
20 At the end of Division
48
Add:
(1) If you *cease to be a member of a GST
group (the first GST group), any
*adjustment that arises afterwards in relation
to a supply or acquisition that you made while a
*member of the first GST group (other than a
supply to, or an acquisition from, another member of that group):
(a) is an adjustment that you have; and
(b) is not an adjustment of the entity that is or was the
*representative member of the first GST group
(unless you were that representative member).
(2) This section has effect despite subsections 48-40(1) and 48-45(1)
(which are about who, in a GST group, is liable to pay GST and who is entitled
to input tax credits). This section does not affect section 48-50 (which is
about who, in a GST group, has adjustments).
(1) If:
(a) while you were a *member of a
*GST group (the first GST group)
you acquired a thing (other than from another member of that group) or imported
a thing; and
(b) you *cease to be a member of the
first GST group;
then, when applying section 129-40 for the first time after that cessation,
the *intended or former application of the
thing is the extent of *creditable purpose last
used to work out, under section 48-55:
(c) the amount of the input tax credit to which the
*representative member was entitled for the
acquisition or importation; or
(d) the amount of any *adjustment the
representative member had under Division 129 in relation to the thing.
(2) If:
(a) you were a *member of a
*GST group (the first GST group)
at the time that you made an acquisition of a thing (other than from another
member of that group) or importation of a thing; and
(b) you have *ceased to be a member of
the first GST group; and
(c) you have an *adjustment under
Division 129 in relation to the thing, or the
*representative member of another GST group of
which you are a *member has that
adjustment;
then, for the purposes of working out the full input tax credit in section
129-70 or 129-75, you are taken not to have been a member of a GST group when
you acquired or imported the thing.
21 At the end of section
66-1
Add “, and a form of global accounting is used for some acquisitions
of second-hand goods that are divided for re-supply”.
22 After section 66-1
Insert:
23 Subsection 66-5(1)
After “*second-hand goods”,
insert “for the purposes of sale or exchange (but not for manufacture) in
the ordinary course of
*business”.
24 Paragraph 66-5(2)(d)
Repeal the paragraph, substitute:
(d) Subdivision 66-B applies to the acquisition; or
25 Subsection 66-10(1)
After “*second-hand goods”,
insert “for which the *consideration is
more than $300”.
26 After subsection
66-10(1)
Insert:
(1A) The amount of the input tax credit for a
*creditable acquisition of
*second-hand goods for which the
*consideration is $300 or less is an amount
equal to 1/11 of the
*consideration that you provide, or are liable
to provide, for the acquisition.
27 Paragraph 66-15(1)(b)
Repeal the paragraph, substitute:
(b) either the *consideration for the
acquisition was more than $300 or you choose to have this section apply to the
acquisition;
28 Subsection 66-15(3)
Repeal the subsection.
29 After section 66-15
Insert:
(1) If you make a *creditable acquisition
of second-hand goods and the supply of the goods to you was not a
*taxable supply:
(a) subsection 29-10(3) applies to the acquisition as if references to a
*tax invoice were references to a record you
prepared that complies with this section; and
(b) subsection 29-20(3) applies to an adjustment event relating to the
acquisition as if references to an *adjustment
note were references to a record you prepared that complies with this
section.
(2) To comply with this section, the record must:
(a) set out the name and address of the entity that supplied the goods to
you; and
(b) describe the goods (including their quantity); and
(c) set out the date of, and the
*consideration for, the acquisition.
(3) This section has effect despite section 29-10 (which is about
attributing the input tax credits for creditable acquisitions) and section 29-20
(which is about attributing decreasing adjustments).
30 At the end of Division
66
Add:
(1) This Subdivision applies to an acquisition of
*second-hand goods if:
(a) you acquire the goods for the purposes of sale or exchange (but not
for manufacture) in the ordinary course of
*business; and
(b) either the *consideration for the
acquisition was more than $300 or you choose to have this section apply to the
acquisition; and
(c) the goods are of such a kind, or they are supplied to you in such a
way, that it would be reasonable to expect you to divide them before supplying
them in 2 or more separate supplies; and
(d) you do not subsequently make a single supply of the entirety of the
goods acquired.
(2) However, this Subdivision does not apply, and is taken never to have
applied, to the acquisition if:
(a) the *consideration for the
acquisition separately itemises the consideration for the different goods
acquired, and your division of the goods before supplying them:
(i) corresponds to that itemisation; or
(ii) does not involve dividing the goods any further than the division
indicated by that itemisation; or
(b) the supply of the goods to you was a
*taxable supply, or was
*GST-free; or
(c) you *imported the goods; or
(d) the supply of the goods to you was a supply by way of hire;
or
(e) you make a supply of the goods, or of part of the goods, that is not a
taxable supply (other than because of section 66-45).
(1) A supply you make is not a *taxable
supply if:
(a) it is a supply of goods that were part of an acquisition you made that
was an acquisition of *second-hand goods to
which this Subdivision applied; and
(b) your *total Subdivision 66-B credit
amount is more than your *total Subdivision
66-B GST amount; and
(c) what would be the amount of GST payable on the supply, if the supply
were a taxable supply, is less than or equal to the difference
between:
(i) your *total Subdivision 66-B credit
amount; and
(ii) your *total Subdivision 66-B GST
amount.
Note: This section will not apply unless the record keeping
requirements of section 66-55 are met.
(2) This section has effect despite section 9-5 (which is about what are
taxable supplies).
(1) The amount of GST on a *taxable
supply you make is reduced if:
(a) it is a supply of goods that were part of an acquisition you made that
was an acquisition of *second-hand goods to
which this Subdivision applied; and
(b) your *total Subdivision 66-B credit
amount is more than your *total Subdivision
66-B GST amount; and
(c) what would be the amount of GST payable on the supply, if the amount
were not reduced under this section, is more than the difference
between:
(i) your total Subdivision 66-B credit amount; and
(ii) your total Subdivision 66-B GST amount.
Note: This section will not apply unless the record keeping
requirements of section 66-55 are met.
(2) The amount by which the GST on the supply is reduced is an amount
equal to the difference between:
(a) your *total Subdivision 66-B credit
amount; and
(b) your *total Subdivision 66-B GST
amount.
(3) This section has effect despite section 9-70 (which is about the
amount of GST on taxable supplies).
Sections 66-45 and 66-50 do not apply to a supply of goods you made
unless you hold a record, relating to the acquisition of
*second-hand goods of which the goods supplied
were a part, that:
(a) sets out the name and address of the entity that supplied the goods to
you; and
(b) describes the goods (including their quantity); and
(c) sets out the date of, and the
*consideration for, the acquisition.
(1) If an entity acquires *second-hand
goods, and, because of section 66-45 and for no other reason, the supply of the
goods to the entity is not a *taxable
supply:
(a) the fact that the supply is not a taxable supply does not stop the
acquisition being a *creditable acquisition;
and
(b) the amount of the input tax credit for the creditable acquisition is
worked out as if the supply were a taxable supply.
(2) If:
(a) an entity makes a *creditable
acquisition of *second-hand goods;
and
(b) the amount of GST on the supply of the goods to the entity was reduced
because of section 66-50;
the amount of the input tax credit for the creditable acquisition is worked
out as if that amount of GST had not been so reduced.
(3) This section has effect despite section 11-5 (which is about what is a
creditable acquisition) and section 11-25 (which is about the amount of input
tax credits for creditable acquisitions).
(1) Your total Subdivision 66-B credit amount is the sum of
the amounts of the input tax credits to which you would have been entitled, for
all your acquisitions of *second-hand goods to
which this Subdivision applied, if this Subdivision had not applied to
them.
(2) Your total Subdivision 66-B GST amount is the sum
of:
(a) all the amounts of GST that, but for the operation of section 66-45,
would have been payable on supplies that you made; and
(b) all the amounts by which GST payable on supplies that you made has
been reduced under section 66-50.
(1) The Commissioner may, in writing, determine:
(a) that acquisitions of *second-hand
goods of a specified kind are, or are not, acquisitions of second-hand goods to
which this Subdivision applies; or
(b) how *total Subdivision 66-B credit
amounts or *total Subdivision 66-B GST amounts
are to be worked out in specified circumstances.
(2) Determinations under subsection (1) override the provisions of this
Subdivision (except this section), but only to the extent of any
inconsistency.
31 Before section 78-5
Insert:
(1) The *value of a
*taxable supply of an
*insurance policy is reduced by the amount of
any stamp duty payable under a *State law or
*Territory law in respect of the
supply.
(2) This section has effect despite section 9-75 (which is about the value
of taxable supplies).
32 Subsection 78-5(3)
Repeal the subsection, substitute:
(3) However:
(a) this section only applies if the supply of the
*insurance policy by the insurer was a
*taxable supply; and
(b) this section does not apply if the claim in question is a claim under
a *compulsory third party scheme or a
*workers’ compensation scheme.
For compulsory third party schemes and
workers’ compensation schemes, see Subdivision 78-E.
33 Paragraph 78-10(1)(b)
Repeal the paragraph, substitute:
(b) the market value of all supplies made in settlement of the claim,
other than supplies that would be *taxable
supplies but for section 78-12; minus
34 At the end of paragraph
78-10(1)(c)
Add “to the insurer”.
35 After section 78-10
Insert:
(1) A supply that an insurer makes in settlement of a claim under an
*insurance policy is not a
*taxable supply.
(2) This section has effect despite section 9-5 (which is about what are
taxable supplies).
36 At the end of Subdivision
78-A
Add:
(1) If, in settlement of a claim made by an insurer in the insurer’s
exercising of rights of subrogation in respect of an
*insurance policy, an entity that is not
insured under the policy:
(a) makes a payment of *money;
or
(b) makes a supply; or
(c) makes both a payment of money and a supply;
the payment or supply is treated as
*consideration for a supply made by the
insurer, whether or not the payment or supply is made to the insurer.
(2) This section has effect despite section 9-15 (which is about
consideration).
37 Subsection 78-30(2)
Omit “if”, substitute “to the extent (if any)
that”.
38 Subsection 78-30(4)
Repeal the subsection, substitute:
(4) However:
(a) the supply by the entity insured is not a
*taxable supply to the extent (if any) that the
*consideration for the supply is a taxable
supply; and
(b) this section does not apply if the claim in question is a claim under
a *compulsory third party scheme or a
*workers’ compensation scheme.
For compulsory third party schemes and
workers’ compensation schemes, see Subdivision 78-E.
39 Subsection 78-35(1)
After “excess”, insert “to the insurer”.
40 At the end of paragraph
78-40(1)(b)
Add “to the insurer”.
41 At the end of Subdivision
78-C
Add:
(1) If, in settlement of a claim made by an insurer in the insurer’s
exercising of rights of subrogation in respect of an
*insurance policy, an entity that is not
insured under the policy:
(a) makes a payment of *money;
or
(b) makes a supply; or
(c) makes both a payment of money and a supply;
the payment or supply is treated as
*consideration for an acquisition made by the
entity.
(2) The acquisition is a creditable acquisition
if:
(a) the entity settles the claim for a
*creditable purpose; and
(b) the entity is *registered, or
*required to be registered.
(3) However, this section only applies if the corresponding supply that
the insurer is treated as having made because of section 78-20 is a
*taxable supply.
(4) This section has effect despite section 11-5 (which is about what is a
creditable acquisition).
42 At the end of Division
78
Add:
(1) You have a decreasing adjustment if, in settlement of a
claim under a *compulsory third party scheme or
a *workers’ compensation scheme,
you:
(a) make a payment of *money;
or
(b) make a supply; or
(c) make both a payment of money and a supply.
(2) However, this section only applies if:
(a) you settle the claim for a
*creditable purpose; and
(b) you are *registered, or
*required to be registered.
(3) The amount of the decreasing adjustment is the difference (if any)
between:
(a) the amount of the input tax credit to which you would have been
entitled in respect of the payment or supply; and
(b) the amount of GST (if any) that would have been payable, in respect of
the payment or supply, by the entity insured;
if the payment or supply were not made in settlement of a claim under a
*compulsory third party scheme or a
*workers’ compensation scheme.
Note: In the case of a statutory compensation scheme,
paragraph 78-130(2)(c) specifies who is the entity insured.
(1) A compulsory third party scheme is:
(a) a *statutory compensation scheme;
or
(b) a scheme or arrangement, established by an
*Australian law, under which
*insurance policies are issued;
that is specified in the regulations, or that is of a kind specified in the
regulations.
(2) A workers’ compensation scheme is:
(a) a *statutory compensation scheme;
or
(b) a scheme or arrangement, established by an
*Australian law, under which
*insurance policies are issued;
that is specified in the regulations, or that is of a kind specified in the
regulations.
(1) The *value of a
*taxable supply of membership of, or
participation in, a *statutory compensation
scheme is reduced by the amount of any stamp duty payable under a
*State law or
*Territory law in respect of the
supply.
(2) This section has effect despite section 9-75 (which is about the value
of taxable supplies).
(1) This Division applies in relation to a payment or supply made in
settlement of a claim for compensation under a
*statutory compensation scheme in the same way
that it applies to a payment or supply made in settlement of a claim under an
*insurance policy.
(2) For the purposes of the application of this Division in relation to
such a payment or supply:
(a) the claim for compensation under the scheme is treated as a claim
under an *insurance policy; and
(b) the entity operating the scheme is treated as the insurer;
and
(c) an entity is treated as the entity insured if:
(i) the entity’s payment of premiums, contributions or similar
payments under the scheme, or payment of levy in connection with the scheme;
or
(ii) the entity’s liability to pay premiums, contributions or
similar payments under the scheme, or liability to pay levy in connection with
the scheme;
enabled the claim for compensation to arise; and
(d) the supply of membership of, or participation in, the scheme is
treated as the supply of an *insurance
policy.
A statutory compensation scheme is a scheme or
arrangement:
(a) that is established by an *Australian
law; and
(b) under which compensation is payable for particular kinds of injury,
loss or damage; and
(c) that is specified in the regulations, or that is of a kind specified
in the regulations.
If:
(a) in compliance with a judgment or order of a court relating
to:
(i) a claim under an *insurance policy;
or
(ii) a claim by an insurer in exercising rights of subrogation in respect
of an insurance policy; or
(iii) a claim for compensation under a
*statutory compensation scheme;
an entity makes a payment of *money,
makes a supply, or makes both a payment of money and a supply; and
(b) had the payment or supply been made in the absence of such a judgment
or order, it would have been a payment or supply made in settlement of the
claim;
the payment or supply is treated as having been made in settlement of the
claim.
This Division (other than sections 78-3 and 78-125) does not apply to an
*insurance policy, or to a payment or supply
made in settlement of a claim made under an insurance policy, if:
(a) the policy was supplied under a scheme for insurance, or a
*statutory compensation scheme, established by
an *Australian law; and
(b) that scheme is of a kind specified in the regulations.
43 After Division 84
Insert:
Telecommunication supplies that are effectively used or enjoyed in
Australia are included in the GST system (regardless of where the supplier has a
physical presence).
(1) A *telecommunication supply is
connected with Australia if the
*recipient of the supply will effectively use
or enjoy the supply in Australia.
(2) However, subsection (1) does not apply to a
*telecommunication supply, or a
telecommunication supply included in a class of telecommunication supplies,
if:
(a) the supplier makes the supply through an
*enterprise that is not
*carried on in Australia; and
(b) the Commissioner determines that collection of GST on that supply or
class of supplies would not be administratively feasible.
(3) This section has effect in addition to section 9-25 (which is about
when supplies are connected with Australia).
A telecommunication supply is a supply relating to the
transmission, emission or reception of signals, writing, images, sounds or
information of any kind by wire, radio, optical or other electromagnetic
systems. It includes:
(a) the related transfer or assignment of the right to use capacity for
such transmission, emission or reception; and
(b) provision of access to global information networks.
44 Paragraph 96-5(1)(c)
Repeal the paragraph, substitute:
(c) a *telecommunication
supply;
(d) a supply of anything, other than goods or real property, that is not a
telecommunication supply;
45 Subparagraph
117-5(1)(b)(i)
Repeal the subparagraph, substitute:
(i) for the *international transport of
the goods to their *place of consignment in
Australia; and
46 Subsection 129-25(1)
Omit all the words from and including “the next
*adjustment period”,
substitute:
the next tax period applying to you that ends:
(d) on 30 June in any year; or
(e) if none of the tax periods applying to you in a particular year ends
on 30 June—closer to 30 June than any of the other tax periods applying to
you in that year;
is the last *adjustment period for the
acquisition or importation in question.
47 At the end of Part 4-5
Add:
Parts of the Commonwealth, a State or a Territory may register even if they
are not separate legal entities. Once registered, they may become liable for GST
and entitled to input tax credits. Government entities may also form GST
groups.
(1) A *government entity may apply to be
*registered under section 23-10 even
if:
(a) it is not an entity; and
(b) it is not *carrying on an
*enterprise or is not intending to carry on an
enterprise.
(2) For the purposes of subsections 25-5(1) and (3), the Commissioner is
to treat the government entity as an entity.
(3) The Commissioner must *register the
government entity whether or not the Commissioner is satisfied that it is
*carrying on an
*enterprise or intending to carry on an
enterprise.
(4) This section has effect despite section 23-10 (which is about who may
be registered) and modifies the effect of section 25-5 (which is about when the
Commissioner must register an entity).
(1) A *government entity is not
*required to be registered even if:
(a) it is *carrying on an
*enterprise; and
(b) its *annual turnover meets the
*registration turnover threshold.
(2) This subsection has effect despite section 23-5.
For the purposes of this Act, a
*government entity that is
*registered is treated, while its registration
has effect, as if it were an entity carrying on an
*enterprise.
Section 25-50 and subsection 25-55(2) (which are about cancelling
registration) do not apply to *government
entities.
A *government related entity
satisfies the membership requirements for a
*GST group, or a proposed GST group, of
government related entities if:
(a) it is *registered; and
(b) it is not a *member of any other GST
group; and
(c) it has the same tax periods applying to it as the tax periods applying
to all the other members of the GST group or proposed GST group; and
(d) it accounts on the same basis as all those other members;
and
(e) all those other members are government related entities.
Note: Government related entities can still use section
48-10 to satisfy the membership requirements of GST groups.
48 Division 153 (heading)
Repeal the heading, substitute:
49 At the end of section
153-1
Add “, or when insurance is supplied through an insurance
broker”.
50 At the end of Division
153
Add:
(1) If an insurer supplies an *insurance
policy through an *insurance broker acting on
behalf of the *recipient of the supply, this
Division has effect as if the supply were made through the insurance broker as
an agent of the insurer.
(2) This section does not affect the application of this Division in
relation to the acquisition of the *insurance
policy through the insurance broker as an agent of the
*recipient.
51 Section 195-1
Insert:
cease to be a member of a GST group means:
(a) your approval as a *member of a
*GST group is revoked; or
(b) the approval of a GST group of which you are a member is
revoked.
52 Section 195-1
Insert:
compulsory third party scheme has the meaning given by
subsection 78-110(1).
53 Section 195-1 (definition of connected
with Australia)
Omit “section 9-25”, substitute “sections 9-25 and
85-5”.
54 Section 195-1 (definition of dealer in
precious metal)
Omit “for investment purposes”.
55 Section 195-1 (after table item 4 of the
definition of decreasing adjustment)
Insert:
|
4A |
Section 78-105 |
payments or supplies made in settlement of claims under compulsory third
party schemes or workers compensation schemes |
56 Section 195-1 (definition of financial
supply)
Omit “section 40-5”, substitute “the regulations made for
the purposes of subsection 40-5(2)”.
57 Section 195-1
Insert:
government entity has the meaning given by section 41 of the
A New Tax System (Australian Business Number) Act 1999.
58 Section 195-1
Insert:
government related entity is:
(a) a *government entity; and
(b) an entity that would be a government entity but for subparagraph
(e)(i) of the definition of government entity in the A New Tax
System (Australian Business Number) Act 1999.
59 Section 195-1 (definition of GST exclusive
market value)
Repeal the definition, substitute:
GST exclusive market value, in relation to a supply or
acquisition:
(a) other than of a *luxury car—is
10/11 of the
*GST inclusive market value of the supply or
acquisition; or
(b) of a *luxury car—is
10/11 of the
*GST inclusive market value of the luxury car
(excluding any *luxury car tax that is, or
would be, payable on the supply of that car).
60 Section 195-1 (paragraph (a) of the
definition of GST exclusive value)
Repeal the paragraph, substitute:
(a) in relation to an acquisition:
(i) other than of a *luxury
car—means 10/11 of
the *price of the supply of the thing being
acquired; or
(ii) of a *luxury car—means
10/11 of the
*price of the supply of the luxury car
(excluding any *luxury car tax payable on the
supply); and
61 Section 195-1 (definition of GST inclusive
market value)
Omit “the amount of GST (if any)”, substitute “any amount
of GST or *luxury car tax”.
62 Section 195-1
Insert:
insurance broker has the meaning given by section 11 of the
Insurance Contracts Act 1984.
63 Section 195-1 (definition of live
stock)
Repeal the definition.
64 Section 195-1 (definition of
member)
Repeal the definition, substitute:
member, in relation to a
*GST group, means an entity or a
*government related entity currently approved
as one of the members of the group under section 48-5 or paragraph
48-70(1)(a).
65 Section 195-1 (definition of precious
metal)
Omit “in any form” (wherever occurring), substitute “in
an investment form”.
66 Section 195-1 (paragraph (d) of the
definition of precious metal)
After “substance”, insert “(in an investment
form)”.
67 Section 195-1 (at the end of the definition
of satisfies the membership requirements)
Add “or 149-25”.
68 Section 195-1 (paragraph (c) of the
definition of second-hand goods)
Repeal the paragraph, substitute:
(c) animals or plants.
69 Section 195-1
Insert:
statutory compensation scheme has the meaning given by
section 78-135.
70 Section 195-1 (note at the end of the
definition of taxable supply)
After “sections”, insert “66-45,”.
71 Section 195-1
Insert:
telecommunication supply has the meaning given by section
85-10.
72 Section 195-1
Insert:
total Subdivision 66-B credit amount has the meaning given by
subsection 66-65(1).
73 Section 195-1
Insert:
total Subdivision 66-B GST amount has the meaning given by
subsection 66-65(2).
74 Section 195-1 (paragraph (b) of the
definition of value)
Omit “78-40, 78-45”, substitute “78-3, 78-40, 78-45,
78-125”.
75 Section 195-1 (paragraph (b) of the
definition of value)
Omit “and” (last occurring).
76 Section 195-1 (paragraph (c) of the
definition of value)
Repeal the paragraph.
77 Section 195-1
Insert:
workers’ compensation scheme has the meaning given by
subsection 78-110(2).
Part
2—Amendment of the A New Tax
System (Luxury Car Tax) Act 1999
78 Section 27-1 (definition of
car)
Repeal the definition, substitute:
car means a *motor vehicle
(except a motor cycle or similar vehicle) that is:
(a) designed to carry a load of less than 2 tonnes and fewer than 9
passengers; or
(b) a limousine (regardless of the number of passengers it is designed to
carry).
Part
3—Amendment of the A New Tax
System (Wine Equalisation Tax) Act 1999
79 Section 33-1 (at the end of the definition of
application to own use)
Add:
; or (g) using the wine as part of the process of manufacture or other
treatment or processing of wine or other goods.
A
New Tax System (Goods and Services Tax Transition) Act
1999
1 Before subsection 11(2)
Insert:
(1B) This section does not apply to a supply of a long-term lease made
before 1 July 2000.
2 At the end of section 12
Insert:
(4) This section does not apply to a supply of a long-term lease made
before 1 July 2000.
3 Subsection 14(2)
Repeal the subsection, substitute:
(2) To the extent that the supply is constituted by the supply of the
right, so much of the supply as is made before 1 July 2000 is instead taken, for
the purposes of this Act, to be made on 1 July 2000.
4 At the end of subsection
16(1)
Add:
Note: In some cases relating to alcoholic beverages,
subsections 16A(3) and 16B(3) prevent special credits arising.
5 At the end of paragraph
16(2)(b)
Add “, if those goods are opened stock”.
6 At the end of subsection
16(2)
Add:
; (c) wine within the meaning of the A New Tax System (Wine
Equalisation Tax) Act 1999.
7 At the end of subsection
16(3)
Add:
Note: In some cases relating to alcoholic beverages,
subsections 16A(2) and 16B(2) reduce the amounts of special
credits.
8 After section 16
Insert:
(1) This section applies to goods if:
(a) you are entitled to a special credit under section 16 in respect of
the goods (or would be so entitled apart from subsection (3) of this section);
and
(b) they are goods mentioned in subsection 15A(1) (alcoholic beverages) of
the Sales Tax (Exemptions and Classifications) Act 1992; and
(c) either:
(i) an amount of excise duty or customs duty (the old duty
amount) in respect of the goods was paid before 1 July 2000;
or
(ii) the goods were delivered into home consumption before 1 July 2000
under a permission given under subsection 61C(1) of the Excise Act 1901
or granted under subsection 69(3) of the Customs Act 1901, and an amount
of excise duty or customs duty (the old duty amount) was or is
payable in respect of the goods; and
(d) were excise duty or customs duty (whichever is applicable) instead to
become payable on the goods immediately after 1 July 2000, the amount of that
duty (the new duty amount) would be greater than the old duty
amount.
(2) The amount of the special credit in respect of the goods is reduced by
an amount equal to the difference between the new duty amount and the old duty
amount.
(3) However, there is no special credit in respect of the goods if the
difference between the new duty amount and the old duty amount equals or exceeds
what would (apart from this section) be the amount of the special
credit.
(1) This section applies to goods if:
(a) you are entitled to a special credit under section 16 in respect of
the goods (or would be so entitled apart from subsection (3) of this section);
and
(b) they are goods mentioned in subsection 15A(1) (alcoholic beverages) of
the Sales Tax (Exemptions and Classifications) Act 1992; and
(c) immediately before 1 July 2000, the goods were not:
(i) excisable goods (within the meaning of the Excise Act 1901);
or
(ii) goods of a kind in respect of which customs duty was imposed by the
Parliament, or goods the subject of a Customs Tariff or Customs Tariff proposed
in the Parliament; and
(d) immediately after 1 July 2000, the goods became goods of a kind
referred to in subparagraph (c)(i) or (ii).
(2) The amount of the special credit in respect of the goods is reduced by
an amount (the new duty amount) equal to what would be the excise
duty or customs duty (whichever is applicable) in respect of the goods if that
duty were to become payable immediately after 1 July 2000.
(3) However, there is no special credit in respect of the goods if the new
duty amount equals or exceeds what would (apart from this section) be the amount
of the special credit.
(4) To avoid doubt, goods that are subject to a “free” rate of
duty, or which, under a Customs Tariff proposed in the Parliament, would be
subject to a “free” rate of duty, are not goods of a kind referred
to in subparagraph (1)(c)(ii).
(1) You are entitled to a special petroleum credit if:
(a) you are registered as at 1 July 2000; and
(b) you have on hand, at the start of 1 July 2000, goods you acquired or
imported that are held for the purposes of sale or exchange (but not for
manufacture) in the ordinary course of business; and
(c) the goods are petroleum products of a kind specified in the
regulations; and
(d) either:
(i) an amount of excise duty or customs duty (the old duty
amount) in respect of the goods was paid before 1 July 2000;
or
(ii) the goods were delivered into home consumption before 1 July 2000
under a permission given under subsection 61C(1) of the Excise Act 1901
or granted under subsection 69(3) of the Customs Act 1901, and an amount
of excise duty or customs duty (the old duty amount) was or is
payable in respect of the goods; and
(e) were excise duty or customs duty (whichever is applicable) instead to
become payable on the goods after 1 July 2000, the amount of that duty (the
new duty amount) would be less than the old duty amount.
(2) The amount of the special petroleum credit in respect of the goods is
an amount equal to the difference between the old duty amount and the new duty
amount.
(3) The Commissioner must, on behalf of the Commonwealth, pay the special
petroleum credit to you or, as provided in the regulations, to another person on
your behalf. The payment must be made within the period and in the manner
specified in the regulations.
9 Subsection 18(1)
Repeal the subsection, substitute:
(1) Division 66 of the GST Act applies to second-hand goods you acquired
before 1 July 2000 only if:
(a) you held them at the start of that day for the purposes of sale or
exchange (but not for manufacture) in the ordinary course of business;
and
(b) you had not previously held them for any other purpose.
(1A) However, if:
(a) because of this section, you are entitled to an input tax credit for
an acquisition of second-hand goods; and
(b) the *consideration for the
acquisition was $300 or less;
the input tax credit is treated as though it were an input tax credit
attributable to any one tax period of your choice.
10 At the end of section 23
Add:
(2) You are not entitled to an input tax credit for:
(a) a premium, contribution or similar payment made under, or a levy paid
in connection with, a compulsory third party scheme before 1 July 2003;
or
(b) a premium paid, before 1 July 2003, on an insurance policy issued
under a compulsory third party scheme.
A
New Tax System (Commonwealth-State Financial Arrangements) Act
1999
1 Section 4
Insert:
general interest charge means the charge worked out under
Division 1 of Part IIA of the Taxation Administration Act 1953.
2 Section 4
Insert:
luxury car tax law has the meaning given by section 27-1 of
the A New Tax System (Luxury Car Tax) Act 1999.
3 Section 4
Insert:
wine equalisation tax law has the meaning given
by section 33-1 of the A New Tax System (Wine Equalisation Tax) Act
1999.
4 After paragraph 5(3)(a)
Insert:
(aa) the amount of general interest charge that was collected to the
extent that it is attributable to:
(i) unpaid GST; or
(ii) unpaid general interest charge, being general interest charge payable
in respect of unpaid GST; and
5 At the end of subsection
5(4)
Add:
; to the extent that the amounts are attributable to GST.
6 After subsection 5(4)
Insert:
(4A) In making determinations and estimates for the purposes of subsection
(2), the Commissioner must make such adjustments as are necessary to ensure that
any effect that the luxury car tax law or wine equalisation tax law would
otherwise have on the amounts of GST, and the amounts attributable to GST, is
removed.
A
New Tax System (Australian Business Number) Act 1999
1 Subsection 8(1)
Repeal the subsection, substitute:
(1) *You are entitled to have an
Australian Business Number (*ABN) if:
(a) you are *carrying on an
*enterprise in
*Australia; or
(b) in the course or furtherance of carrying on an enterprise, you make
*supplies that are
*connected with Australia.
2 Section 39
Repeal the section.
3 Section 41 (definition of carried on in
Australia)
Repeal the definition.
4 Section 41
Insert:
connected with Australia, in relation to a
*supply, has the meaning given by section 195-1
of the A New Tax System (Goods and Services Tax) Act 1999.
5 Section 41
Insert:
supply has the meaning given by section 9-10 of the A New
Tax System (Goods and Services Tax) Act 1999.
Consular
Privileges and Immunities Act 1972
1 Subsection 3(1)
Insert:
acquisition has the meaning given by section 195-1 of the GST
Act.
2 Subsection 3(1)
Insert:
approved form has the meaning given by section 995-1 of the
Income Tax Assessment Act 1997.
3 Subsection 3(1)
Insert:
Commissioner means the Commissioner of Taxation.
4 Subsection 3(1)
Insert:
GST Act means the A New Tax System (Goods and Services
Tax) Act 1999.
5 Subsection 3(1)
Insert:
indirect tax means:
(a) GST within the meaning of section 195-1 of the GST Act; or
(b) luxury car tax within the meaning of section 27-1 of the Luxury Car
Tax Act; or
(c) wine equalisation tax within the meaning of section 33-1 of the Wine
Equalisation Tax Act.
6 Subsection 3(1)
Insert:
Luxury Car Tax Act means the A New Tax System (Luxury Car
Tax) Act 1999.
7 Subsection 3(1)
Insert:
Wine Equalisation Tax Act means the A New Tax System (Wine
Equalisation Tax) Act 1999.
8 After subsection 6(1)
Insert:
(1A) Despite:
(a) section 177-5 of the GST Act; and
(b) section 21-5 of the Luxury Car Tax Act; and
(c) section 27-25 of the Wine Equalisation Tax Act;
indirect tax that would be payable on an importation under one of those
Acts is not payable on an importation covered by the exemption from customs
duties, taxes and related charges provided for by paragraph 1 or paragraph 2 of
Article 50, or Article 62, of the Convention and section 5 of this
Act.
9 After section 10
Insert:
(1) If:
(a) an acquisition covered by a determination of the Minister is
made:
(i) by or on behalf of the head of a consular post; or
(ii) by a consular officer or member of his or her family forming part of
his or her household, or another person, who is:
covered by a determination of the Minister; and
(b) at the time of the acquisition, it was intended for:
(i) the official use of the consular post; or
(ii) a use covered by a determination of the Minister;
the Commissioner must, on behalf of the Commonwealth and subject to
subsection (3), pay to the head of the consular post (or a person in a class of
persons determined by the Minister) an amount equal to the amount of indirect
tax payable (if any) in respect of the supply of that acquisition.
(2) A claim for an amount covered by subsection (1) must be in the
approved form.
(3) The amount is payable:
(a) in accordance with the conditions and limitations; and
(b) within the period and in the manner;
determined by the Minister.
(4) A determination under this section is a disallowable instrument for
the purposes of section 46A of the Acts Interpretation Act
1901.
(5) In this section:
consular post includes a post that has privileges and
immunities conferred on it under section 9.
Diplomatic
Privileges and Immunities Act 1967
10 Subsection 4(1)
Insert:
acquisition has the meaning given by section 195-1 of the GST
Act.
11 Subsection 4(1)
Insert:
approved form has the meaning given by section 995-1 of the
Income Tax Assessment Act 1997.
12 Subsection 4(1)
Insert:
Commissioner means the Commissioner of Taxation.
13 Subsection 4(1)
Insert:
GST Act means the A New Tax System (Goods and Services
Tax) Act 1999.
14 Subsection 3(1)
Insert:
indirect tax means:
(a) GST within the meaning of section 195-1 of the GST Act; or
(b) luxury car tax within the meaning of section 27-1 of the Luxury Car
Tax Act; or
(c) wine equalisation tax within the meaning of section 33-1 of the Wine
Equalisation Tax Act.
15 Subsection 4(1)
Insert:
Luxury Car Tax Act means the A New Tax System (Luxury Car
Tax) Act 1999.
16 Subsection 4(1)
Insert:
Wine Equalisation Tax Act means the A New Tax System (Wine
Equalisation Tax) Act 1999.
17 After subsection 8(1)
Insert:
(1A) Despite:
(a) section 177-5 of the GST Act; and
(b) section 21-5 of the Luxury Car Tax Act; and
(c) section 27-25 of the Wine Equalisation Tax Act;
indirect tax that would be payable on an importation under one of those
Acts is not payable on an importation covered by the exemption from customs
duties, taxes and related charges provided for by paragraph 1 of Article 36, or
paragraph 1 or paragraph 2 of Article 37, of the Convention and section 7 of
this Act.
18 After section 10A
Insert:
(1) If:
(a) an acquisition covered by a determination of the Minister is
made:
(i) by or on behalf of the head of a mission; or
(ii) by a member of the mission, a member of the family of such a person
or another person, who is;
covered by a determination of the Minister; and
(b) at the time of the acquisition, it was intended for:
(i) the official use of the mission; or
(ii) a use covered by a determination of the Minister;
the Commissioner must, on behalf of the Commonwealth and subject to
subsection (3), pay to the head of the mission (or a person in a class of
persons determined by the Minister) an amount equal to the amount of indirect
tax payable (if any) in respect of the supply of that acquisition.
(2) A claim for an amount covered by subsection (1) must be in the
approved form.
(3) The amount is payable:
(a) in accordance with the conditions and limitations; and
(b) within the period and in the manner;
determined by the Minister.
(4) A determination under this section is a disallowable instrument for
the purposes of section 46A of the Acts Interpretation Act
1901.
(5) In this section:
mission includes an international organisation that has been
declared by the regulations for the purposes of section 5A.
International
Organisations (Privileges and Immunities) Act 1963
19 Subsection 3(1)
Insert:
acquisition has the meaning given by section 195-1 of the GST
Act.
20 Subsection 3(1)
Insert:
approved form has the meaning given by section 995-1 of the
Income Tax Assessment Act 1997.
21 Subsection 3(1)
Insert:
Commissioner means the Commissioner of Taxation.
22 Subsection 3(1)
Insert:
enterprise has the meaning given by section 195-1 of the GST
Act.
23 Subsection 3(1)
Insert:
GST Act means the A New Tax System (Goods and Services
Tax) Act 1999.
24 Subsection 3(1)
Insert:
indirect tax means:
(a) GST within the meaning of section 195-1 of the GST Act; or
(b) luxury car tax within the meaning of section 27-1 of the Luxury Car
Tax Act; or
(c) wine equalisation tax within the meaning of section 33-1 of the Wine
Equalisation Tax Act.
25 Subsection 3(1)
Insert:
Luxury Car Tax Act means the A New Tax System (Luxury Car
Tax) Act 1999.
26 Subsection 3(1)
Insert:
Wine Equalisation Tax Act means the A New Tax System (Wine
Equalisation Tax) Act 1999.
27 After section 11A
Insert:
Despite:
(a) section 177-5 of the GST Act; and
(b) section 21-5 of the Luxury Car Tax Act; and
(c) section 27-25 of the Wine Equalisation Tax Act;
indirect tax that would be payable on an importation under one of those
Acts is not payable on an importation covered by an immunity from taxation
(including customs duties) conferred by the regulations.
(1) If:
(a) an acquisition covered by regulations made for the purposes of this
section is made:
(i) by or on behalf of an organisation upon which the regulations have
conferred an exemption (to some extent) from taxation; or
(ii) by or on behalf of a person (the person) upon whom the
regulations have conferred an exemption (to some extent) from taxation;
and
(b) at the time of the acquisition, it was intended for:
(i) the official use of the organisation or the person; or
(ii) a use covered by regulations made for the purposes of this
section;
the Commissioner must, on behalf of the Commonwealth and subject to
subsection (3), pay to the organisation (or a person in a class of persons
determined by the Minister), or the person, an amount equal to the amount of
indirect tax payable (if any) in respect of the supply of that
acquisition.
(2) A claim for an amount covered by subsection (1) must be in the
approved form.
(3) The amount is payable:
(a) in accordance with the conditions and limitations; and
(b) within the period and in the manner;
set out in regulations made for the purposes of this section.
(4) Regulations made for the purposes of subsection (3) may permit the
Commissioner to determine the period within which, and the manner in which, the
amount is payable.
(5) A determination under subsection (1) is a disallowable instrument for
the purposes of section 46A of the Acts Interpretation Act
1901.
28 After section 12A
Insert:
For the purposes of the GST Act, an organisation or person upon which or
whom the regulations have conferred privileges and immunities is treated as not
carrying on an enterprise when acting in the capacity in respect of which the
organisation or person was granted those privileges and immunities.
Note: This means that the organisation or person cannot be
registered under Division 23 of the GST Act in that capacity.
Overseas
Missions (Privileges and Immunities) Act 1995
29 Section 3
Insert:
acquisition has the meaning given by section 195-1 of the GST
Act.
30 Section 3
Insert:
approved form has the meaning given by section 995-1 of the
Income Tax Assessment Act 1997.
31 Section 3
Insert:
Commissioner means the Commissioner of Taxation.
32 Section 3
Insert:
GST Act means the A New Tax System (Goods and Services
Tax) Act 1999.
33 Section 3
Insert:
indirect tax means:
(a) GST within the meaning of section 195-1 of the GST Act; or
(b) luxury car tax within the meaning of section 27-1 of the Luxury Car
Tax Act; or
(c) wine equalisation tax within the meaning of section 33-1 of the Wine
Equalisation Tax Act.
34 Section 3
Insert:
Luxury Car Tax Act means the A New Tax System (Luxury Car
Tax) Act 1999.
35 Section 3
Insert:
Wine Equalisation Tax Act means the A New Tax System (Wine
Equalisation Tax) Act 1999.
36 At the end of section 9
Add:
(2) Despite:
(a) section 177-5 of the GST Act; and
(b) section 21-5 of the Luxury Car Tax Act; and
(c) section 27-25 of the Wine Equalisation Tax Act;
indirect tax that would be payable on an importation under one of those
Acts is not payable on an importation covered by an immunity from taxation
(including customs duties) conferred by the regulations.
37 After section 12
Insert:
(1) If:
(a) an acquisition covered by regulations made for the purposes of this
section is made:
(i) by or on behalf of the head of a designated overseas mission that has
been granted an exemption (to some extent) from taxation under the regulations;
or
(ii) by a person referred to in section 7, or another person, who is
covered by regulations made for the purposes of this section; and
(b) at the time of the acquisition, it was intended for:
(i) the official use of the mission; or
(ii) a use covered by regulations made for the purposes of this
section;
the Commissioner must, on behalf of the Commonwealth and subject to
subsection (3), pay to the head of the mission (or a person in a class of
persons determined by the Minister) an amount equal to the amount of indirect
tax payable (if any) in respect of the supply of that acquisition.
(2) A claim for an amount covered by subsection (1) must be in the
approved form.
(3) The amount is payable:
(a) in accordance with the conditions and limitations; and
(b) within the period and in the manner;
set out in regulations made for the purposes of this section.
(4) Regulations made for the purposes of subsection (3) may permit the
Commissioner to determine the period within which, and the manner in which, the
amount is payable.
(5) A
determination under subsection (1) is a disallowable instrument for the purposes
of section 46A of the Acts Interpretation Act 1901.
Income
Tax Assessment Act 1997
1 Subsection 995-1(1) (at the end of the
definition of Australian government agency)
Add:
; or (c) a local governing body established by or under a
*State law or
*Territory law.
2 Subsection 995-1(1) (after paragraph (b) of
the definition of exempt Australian government
agency)
Insert:
(ba) a local governing body established by or under a
*State law or
*Territory law whose
*ordinary income and
*statutory income is exempt from income tax
because of Division 50; or
Petroleum
Resource Rent Tax Assessment Act 1987
3 Section 2
Insert:
acquisition has the meaning given by section 195-1 of the GST
Act.
4 Section 2
Insert:
creditable purpose has the meaning given by section 195-1 of
the GST Act.
5 Section 2
Insert:
decreasing adjustment has the meaning given by section 195-1
of the GST Act.
6 Section 2
Insert:
GST has the meaning given by section 195-1 of the GST
Act.
7 Section 2
Insert:
GST Act means the A New Tax System (Goods and Services
Tax) Act 1999.
8 Section 2
Insert:
increasing adjustment has the meaning given by section 195-1
of the GST Act.
9 Section 2
Insert:
input tax credit has the meaning given by section 195-1 of
the GST Act.
10 Section 2
Insert:
market value, of a commodity, at a particular time, is its
market value reduced by an amount equal to the amount of the input tax credit
(if any) to which a person would be entitled if:
(a) the person had acquired the commodity at that time; and
(b) the acquisition had been solely for a creditable purpose.
11 Before section 23 of Division 2 of Part
V
Insert:
(1) For the purposes of this Division, a reference to consideration
receivable, to value receivable or to an amount receivable does not include an
amount equal to:
(a) any GST payable on the supply for which the consideration, value or
amount was receivable; or
(b) any increasing adjustments that relate to that supply.
(2) For the purposes of this Division, a reference to the sale price of
property does not include an amount equal to:
(a) any GST payable on the sale; or
(b) any increasing adjustments that relate to that sale.
(3) For the purposes of this Division, a reference to expenses payable in
relation to a sale does not include an amount equal to:
(a) any input tax credit to which you are entitled; or
(b) any decreasing adjustment that you have;
in relation to those expenses.
12 Before section 32 of Division 3 of Part
V
Insert:
For the purposes of this Division, a reference to an amount of
expenditure incurred, or a liability incurred, by a person does not include an
amount equal to:
(a) any input tax credit to which the person is entitled; or
(b) any decreasing adjustments that the person has;
in relation to that expenditure or liability.
13 At the end of paragraphs 44(a) to
(h)
Add “or”.
14 After paragraph 44(h)
Insert:
(i) payments of GST under the GST Act; or