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A New Tax System (Goods and Services Tax) Act 1999
11‑5 What is a creditable acquisition?11‑5 What is a creditable acquisition?
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11‑5 What is a creditable acquisition?
You make a creditable acquisition if: (a) you acquire anything solely or partly for a *creditable purpose; and (b) the supply of the thing to you is a *taxable supply; and (c) you provide, or are liable to provide, *consideration for the supply; and (d) you are *registered, or *required to be registered.