66‑15 Attributing input tax credits for 66‑15 Attributing input tax credits for creditable acquisitions of second‑hand goods

66‑15 Attributing input tax credits for creditable acquisitions of second‑hand goods

(1) If: (a) you are entitled, under this Division, to the input tax credit for a *creditable acquisition of *second‑hand goods; and (b) either the *consideration for the acquisition was more than $300 or you choose to have this section apply to the acquisition; the input tax credit for the acquisition is attributable to: (c) the tax period in which any *consideration is received for a subsequent *taxable supply of the goods; or (d) if, before any of the consideration is received, you have issued an *invoice relating to the supply—the tax period in which the invoice is issued. (2) However, if you *account on a cash basis, then: (a) if, in a tax period, all of the *consideration is received for the subsequent *taxable supply—the input tax credit for the acquisition is attributable to that tax period; or (b) if, in a tax period, part of the consideration is received—the input tax credit for the acquisition is attributable to that tax period, but only to the extent that the consideration is received in that tax period; or (c) if, in a tax period, none of the consideration is received—none of the input tax credit for the acquisition is attributable to that tax period. (4) This section has effect despite section 29‑10 (which is about attributing the input tax credits for creditable acquisitions).