(1) An acquisition that solely or partly relates to making supplies that are * input taxed is not a * creditable acquisition if:
(a) the acquisition would (but for this section) be an acquisition of a kind referred to in paragraph 149A(2)(b) of the Fringe Benefits Tax Assessment Act 1986 ; and
(b) the acquisition specifically relates to the provision of a particular benefit (within the meaning of that Act) in respect of which * fringe benefits tax is or will be payable.
(2) However, this section does not apply to an acquisition if:
(a) the only reason it relates to making supplies that are * input taxed is because it relates to making * financial supplies; and
(b) you do not * exceed the financial acquisitions threshold.
(3) This section has effect despite section 11-5 (which is about what is a creditable acquisition).