70‑15 How much are the reduced input tax70‑15 How much are the reduced input tax credits?

70‑15 How much are the reduced input tax credits?

(1) The amount of an input tax credit for a *creditable acquisition of a *reduced credit acquisition is an amount equal to the GST payable on the supply of the acquisition multiplied by the percentage specified under subsection 70‑5(2) for acquisitions of that kind. (2) However, the amount of such an input tax credit is further reduced if the acquisition is only *partly creditable. (3) This section has effect despite section 11‑25 (which is about the amount of input tax credits).