Document ID: chunk:federal_register_of_legislation:C2025C00126:section:7:p31
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 7 (pt 31/63)
Character Range: 318780–321470

(b) the participant acquired the thing supplied for consumption, use or supply in the course of activities for which the joint venture was entered into.
 (3) This section has effect despite sections 9‑40 and 13‑15 (which are about liability for GST).

51‑35  Who is entitled to input tax credits
 (1) If the *joint venture operator of a *GST joint venture makes a *creditable acquisition or *creditable importation, on behalf of another entity that is a *participant in the joint venture, in the course of activities for which the joint venture was entered into:
 (a) the *joint venture operator is entitled to the input tax credit for the acquisition or importation; and
 (b) the participant is not entitled to the input tax credit on the acquisition or importation.
 (2) This section has effect despite sections 11‑20 and 15‑15 (which are about who is entitled to input tax credits).

51‑40  Adjustments
 (1) Any *adjustment relating to any supply, acquisition or importation that the *joint venture operator of a *GST joint venture makes, on behalf of another entity that is a *participant in the joint venture, in the course of activities for which the joint venture was entered into is to be treated as if:
 (a) the participant did not have the adjustment; and
 (b) the entity that is the joint venture operator at the time the adjustment arises had the adjustment.
 (2) This section has effect despite section 17‑10 (which is about the effect of adjustments on net amounts).

51‑45  Additional net amounts relating to GST joint ventures
 (1) Division 17 applies to the *joint venture operator of a *GST joint venture as if the joint venture operator had an additional *net amount, relating to the joint venture, for each tax period.
 (2) The additional *net amount relating to the joint venture is worked out as if the joint venture operator:
 (a) is only liable for the GST on *taxable supplies that the joint venture operator makes, on behalf of another entity that is a *participant in the joint venture, in the course of activities for which the joint venture was entered into; and
 (b) is only entitled to the input tax credits for *creditable acquisitions or *creditable importations that the joint venture operator makes on behalf of another entity that is a participant in the joint venture, in the course of activities for which the joint venture was entered into; and
 (c) only has adjustments relating to supplies, acquisitions or importations that the joint venture operator makes, on behalf of another entity that is a participant in the joint venture, in the course of activities for which the joint venture was entered into.
 (2A) However, while an election made by the