Private ruling: GST and reduced input tax credits
Date of advice: 23 March 2016
Published: May 2016

Ruling: Q1: Is Entity A entitled to claim reduced input tax credits (RITCs) under item 29(a) in the table in subregulation 70-5.02(2) of the A New Tax System (Goods and Services Tax) Regulations 1999 (GST Regulations) for its acquisition of the services from Entity B? | A1: Yes, Entity A is entitled to claim RITCs, but only to the extent that the services are a reduced credit acquisition under item 29(a) in the table in subregulation 70-5.02(2) of the GST Regulations.


Relevant legislative provisions: A New Tax System (Goods and Services Tax) Act 1999 section 11-5 | A New Tax System (Goods and Services Tax) Act 1999 section 11-15 | A New Tax System (Goods and Services Tax) Act 1999 section 11-20 | A New Tax System (Goods and Services Tax) Act 1999 subsection 70-5(1) | A New Tax System (Goods and Services Tax) Act 1999 Division 189 | A New Tax System (Goods and Services Tax) Regulations 1999 subregulation 70-5.02(2) | A New Tax System (Goods and Services Tax) Regulations 1999 subregulation 40-5.09(4A)