Commonwealth Consolidated Acts

FINANCIAL MANAGEMENT AND ACCOUNTABILITY ACT 1997 - SECT 30A

Recoverable GST on acquisitions

             (1)  If:

                     (a)  a payment in respect of an acquisition is made in reliance on a limited appropriation; and

                     (b)  a GST qualifying amount has arisen or does arise for that acquisition;

then the appropriation is increased by the amount of the GST qualifying amount.

Note:          See section 32A for when the increase takes effect.

Recoverable GST on importations

             (2)  If:

                     (a)  a payment of GST on an importation is made in reliance on a limited appropriation; and

                     (b)  a GST qualifying amount has arisen or does arise for that importation;

then the appropriation is increased by the amount of the GST qualifying amount.

Note:          See section 32A for when the increase takes effect.

Definitions

             (7)  In this section:

"acquisition" has the same meaning as in the GST Act.

"GST" has the same meaning as in the GST Act.

"GST Act" means the A New Tax System (Goods and Services Tax) Act 1999 , as it applies because of Division 177 of that Act.

Note:          Under Division 177 of the GST Act, that Act applies notionally to the Commonwealth and Commonwealth entities. They are therefore notionally liable to pay GST, are notionally entitled to input tax credits and notionally have adjustments.

"GST qualifying amount" means:

                     (a)  an input tax credit (within the meaning of the GST Act); or

                     (b)  a decreasing adjustment (within the meaning of the GST Act).

"importation" has the same meaning as in the GST Act.

"limited appropriation" means an appropriation that is limited as to amount.