Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 69.10

  (1)   If:

  (a)   you are entitled to an input tax credit for a * creditable acquisition or * creditable importation of a * car; and

  (b)   you are not, for the purposes of the A New Tax System (Luxury Car Tax) Act 1999 , entitled to quote an * ABN in relation to the supply to which the creditable acquisition relates, or in relation to the importation, as the case requires; and

  (c)   the * GST inclusive market value of the car exceeds the * car limit for the * financial year in which you first used the car for any purpose;

the amount of the input tax credit on the acquisition or importation is the amount of GST payable on the supply or importation of the car up to 1 / 11 of that limit.

  (2)   However, if:

  (a)   the supply of the car is * GST - free to any extent under Subdivision   38 - P; or

  (b)   the importation of the car is non - taxable to any extent under paragraph   13 - 10(b) because it would have been GST - free to any extent under Subdivision   38 - P if it had been a supply;

you are not entitled to the input tax credit for the acquisition or importation.

  (3)   If your acquisition or importation is * partly creditable, the input tax credit is reduced to the extent (expressed as a percentage) to which the acquisition or importation is made for a * creditable purpose.

  (4)   This section does not apply in relation to:

  (a)   the acquisition or importation of a * car that is not a * luxury car because of subsection   25 - 1(2) of the A New Tax System (Luxury Car Tax) Act 1999 ; or

Note:   Emergency vehicles, cars fitted to transport disabled people, non - passenger commercial vehicles, motor homes and campervans are not luxury cars under that subsection.

  (b)   the acquisition of a car by lease or hire.

  (5)   This section has effect despite sections   11 - 25 and 15 - 20 (which are about the amount of input tax credits on creditable acquisitions and creditable importations).