Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p55
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 55/63)
Character Range: 378942–381607

it was a non‑profit sub‑entity, is taken to be an adjustment that the entity has, as if the entity had made the supply, acquisition or importation.
 (2) For the purpose of applying subsection (1) to an adjustment under Division 129 relating to a thing acquired or imported before the branch ceased to be a *non‑profit sub‑entity, that Division applies as if:
 (a) the extent to which the acquisition or importation of the thing was for a *creditable purpose were the extent to which the entity acquired or imported it for a creditable purpose; and
 (b) the extent to which the thing has been *applied for a creditable purpose since its acquisition or importation were the extent to which the entity applied it for a creditable purpose.

63‑50  Membership requirements of GST groups
  A *non‑profit sub‑entity satisfies the membership requirements for a *GST group, or a proposed GST group, if:
 (a) it is *registered; and
 (b) it has the same tax periods applying to it as the tax periods applying to all the other members of the GST group or proposed GST group; and
 (c) it accounts on the same basis as all those other members; and
 (d) it is not a *member of any other GST group; and
 (e) each of the other members of the GST group or proposed GST group is either:
 (i) the entity of which the non‑profit sub‑entity is a branch; or
 (ii) another branch of that entity that is a non‑profit sub‑entity.

Part 4‑2—Special rules mainly about supplies and acquisitions
Note: The special rules in this Part mainly modify the operation of Part 2‑2, but they may affect other Parts of Chapter 2 in minor ways.

Division 66—Second‑hand goods

Table of Subdivisions
66‑A Input tax credits for acquiring second‑hand goods
66‑B Acquisitions of second‑hand goods that are divided for re‑supply

66‑1  What this Division is about
      This Division allows you to claim input tax credits for your acquisitions of second‑hand goods, even though GST was not payable on the supply of the goods to you. However, some limitations apply, and a form of global accounting is used for some acquisitions of second‑hand goods that are divided for re‑supply.

Subdivision 66‑A—Input tax credits for acquiring second‑hand goods

66‑5  Creditable acquisitions of second‑hand goods
 (1) If you acquire *second‑hand goods for the purposes of sale or exchange (but not for manufacture) in the ordinary course of *business, the fact that the supply of the goods to you is not a *taxable supply does not stop the acquisition being a *creditable acquisition.
 (2) However, this section does not apply, and is taken never to have applied, to the acquisition if:
 (a) the supply of the goods to you