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Draft GST Ruling 2002/D6: Goods and Services Tax: Financial Acquisitions Threshold

Published on 01 Dec 02 by THE TAX INSTITUTE

The financial acquisitions threshold operates to affect the availability of credits both in relation to acquisitions (sec 11-15(4)) and importations (sec 15-10(4)). Whether the threshold is reached depends upon levels of credits that may have attached to 'financial acquisitions' (either in terms of monetary amount (the 'first limb test' as described in the Ruling) or as a proportion of credits that may have attached to all acquisitions (the 'second limb test' as described in the draft Ruling).

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CPA AUSTRALIA


 
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