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A New Tax System (Goods and Services Tax) Act 1999
60‑5 Input tax credit for acquisitions a60‑5 Input tax credit for acquisitions and importations before establishment
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60‑5 Input tax credit for acquisitions and importations before establishment
(1) If you make a *creditable acquisition that is a*pre‑establishment acquisition, or a *creditable importation that is a *pre‑establishment importation, relating to a *company before it is in existence: (a) you are not entitled to the input tax credit on the acquisition or importation; and (b) once the company is in existence, it is entitled to the input tax credit on the acquisition or importation. (2) This section has effect despite sections 11‑20 and 15‑15 (which are about who is entitled to input tax credits).