Document ID: chunk:federal_register_of_legislation:C2025C00126:section:6:p1
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 6 (pt 1/2)
Character Range: 94333–97121

6                           Valuation of re‑imported goods                   Division 117

Note: There are other laws that may affect the amount of GST on taxable importations. For example, see subsection 357‑60(3) in Schedule 1 to the Taxation Administration Act 1953 (about the effect of rulings made under Part 5‑5 in that Schedule).

Division 15—Creditable importations

15‑1  What this Division is about
       You are entitled to input tax credits for your creditable importations. This Division defines creditable importations, states who is entitled to the input tax credits and describes how to work out the input tax credits on importations.

15‑5  What are creditable importations?
  You make a creditable importation if:
 (a) you import goods solely or partly for a *creditable purpose; and
 (b) the importation is a *taxable importation; and
 (c) you are *registered, or *required to be registered.

15‑10  Meaning of creditable purpose
 (1) You import goods for a creditable purpose to the extent that you import the goods in *carrying on your *enterprise.
 (2) However, you do not import the goods for a creditable purpose to the extent that:
 (a) the importation relates to making supplies that would be *input taxed; or
 (b) the importation is of a private or domestic nature.
 (3) An importation is not treated, for the purposes of paragraph (2)(a), as relating to making supplies that would be *input taxed to the extent that the supply is made through an *enterprise, or a part of an enterprise, that you *carry on outside the indirect tax zone.
 (4) An importation is not treated, for the purposes of paragraph (2)(a), as relating to making supplies that would be *input taxed if:
 (a) the only reason it would (apart from this subsection) be so treated is because it relates to making *financial supplies; and
 (b) you do not *exceed the financial acquisitions threshold.
 (5) An importation is not treated, for the purposes of paragraph (2)(a), as relating to making supplies that would be *input taxed to the extent that:
 (a) the importation relates to making a *financial supply consisting of a borrowing; and
 (b) the borrowing relates to you making supplies that are not input taxed.

15‑15  Who is entitled to input tax credits for creditable importations?
  You are entitled to the input tax credit for any *creditable importation that you make.

15‑20  How much are the input tax credits for creditable importations?
  The amount of input tax credit for a *creditable importation is an amount equal to the GST payable on the importation. However, the amount of the input tax credit is reduced if the importation is only *partly creditable.
Note: The basic rule for working out the GST payable on the importation is in section 13‑20. However, the GST payable