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On 11 April 2012 the ATO issued a draft Practice Statement Law Administration entitled “Treatment of input tax credits claimed by a recipient where the Commissioner does not give a refund to the supplier due to the operation of section 105-65 of Schedule 1 to the Taxation Administration Act 1953”: PS LA 3521 (draft).

The purpose of the practice statement is to explain the circumstances in which the Commissioner will allow a recipient to retain an input tax credit that it has claimed where a transaction was incorrectly treated by a supplier as giving rise to a taxable supply.

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