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A New Tax System (Goods and Services Tax) Act 1999
66‑1 What this Division is about66‑1 What this Division is about
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66‑1 What this Division is about
This Division allows you to claim input tax credits for your acquisitions of second‑hand goods, even though GST was not payable on the supply of the goods to you. However, some limitations apply, and a form of global accounting is used for some acquisitions of second‑hand goods that are divided for re‑supply.