A New Tax System (Goods and Services Tax) Act 1999
71‑10 Importations by input taxed suppli71‑10 Importations by input taxed suppliers to provide fringe benefits
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71‑10 Importations by input taxed suppliers to provide fringe benefits
(1) An importation that solely or partly relates to making supplies that are *input taxed is not a *creditable importation if: (a) the importation would (but for this section) be an importation of a kind referred to in paragraph 149A(2)(b) of the Fringe Benefits Tax Assessment Act 1986; and (b) the importation specifically relates to the provision of a particular benefit (within the meaning of that Act) in respect of which *fringe benefits tax is or will be payable. (2) However, this section does not apply to an importation if: (a) the only reason it relates to making supplies that are *input taxed is because it relates to making *financial supplies; and (b) you do not *exceed the financial acquisitions threshold. (3) This section has effect despite section 15‑5 (which is about what is a creditable importation).