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A New Tax System (Goods and Services Tax) Act 1999
70‑10 Extended meaning of creditable pur70‑10 Extended meaning of creditable purpose
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70‑10 Extended meaning of creditable purpose
(1) The fact that a *reduced credit acquisition relates to making *financial supplies does not stop it being for a *creditable purpose, to the extent that it relates to making financial supplies. (2) The fact that you *apply a *reduced credit acquisition in making *financial supplies does not stop it being applied for a *creditable purpose, to the extent that it relates to making financial supplies. (3) This section has effect despite sections 11‑15 and 129‑50 (which are about the meaning of creditable purpose).