Commonwealth Consolidated Acts

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A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 90.25

Entitlement after amalgamation to input tax credits for amalgamating company's acquisitions

             (1)  An * amalgamated company is entitled to the input tax credit for a * creditable acquisition if:

                     (a)  apart from the * amalgamation, any of the * amalgamating companies would have been entitled to the input tax credit; and

                     (b)  the input tax credit was not attributable, before the amalgamation, to a tax period applying to the amalgamating company.

             (2)  This section has effect despite section 11-20 (which is about who is entitled to input tax credits).



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