Legislation

GST Act s 18 of the A New Tax System (Goods and Services Tax Transition) Act 1999 (Transition Act) extends the operation of Subdivision 66-A to allow an input tax credit for second-hand goods you acquire before 1 July 2000 that you hold on 1 July 2000 for the purposes of sale or exchange (but not manufacture) in the ordinary course of business which would otherwise be excluded by subsection 66-5(2)

ATO documents that consider GST Act s 18 of the A New Tax System (Goods and Services Tax Transition) Act 1999 (Transition Act) extends the operation of Subdivision 66-A to allow an input tax credit for second-hand goods you acquire before 1 July 2000 that you hold on 1 July 2000 for the purposes of sale or exchange (but not manufacture) in the ordinary course of business which would otherwise be excluded by subsection 66-5(2)

1 document

GSTD 2000/2currentGSTD · 2000

Goods and services tax: Can you claim input tax credits under Subdivision 66-A of the A New Tax System (Goods and Services Tax) Act 1999 for goods that have been incorporated into second-hand goods prior to 1 July 2000?