Special credit for sales tax paid on stock

The Bulletin explains how the special credit for wholesale sales tax under section 16 of A New Tax System (Goods and Services Tax Transition) Act 1999 can be claimed.

Section 16 was repealed by item 9 in Part 2 of Schedule 5 of the Tax Laws Amendment (Repeal of Inoperative Provisions) Act 2006 effective from 14 September 2006. As a result, GSTB 2000/1 is no longer required.

A replacement bulletin will not be issued.