A New Tax System (Goods and Services Tax) Act 1999
93‑5 Time limit on entitlements to input93‑5 Time limit on entitlements to input tax credits
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93‑5 Time limit on entitlements to input tax credits
(1) You cease to be entitled to an input tax credit for a *creditable acquisition to the extent that the input tax credit has not been taken into account, in an *assessment of a *net amount of yours, during the period of 4 years after the day on which you were required to give to the Commissioner a *GST return for the tax period to which the input tax credit would be attributable under subsection 29‑10(1) or (2).
Note: Section 93‑10 sets out circumstances in which your entitlement to the input tax credit does not cease under this section.
(2) This section has effect despite section 11‑20 (which is about entitlement to input tax credits).
Note: You must hold a valid tax invoice relating to a creditable acquisition to be entitled to have an input tax credit for that acquisition taken into account in working out your assessed net amount for a tax period: see subsection 29‑10(3).