Document ID: chunk:federal_register_of_legislation:C2025C00126:clause:3_5:p6
Version: federal_register_of_legislation:C2025C00126
Segment Type: clause
Provision Reference: sch 3 cl 5 (pt 6/12)
Character Range: 864271–866921

the input tax credits to which you would be entitled for those acquisitions would exceed $150,000 or such other amount specified in the regulations;
 (b) the amount of the input tax credits referred to in paragraph (a) would be more than 10% of the total amount of the input tax credits to which you would be entitled for all your acquisitions and importations during those months (including the financial acquisitions).

Members of GST groups
 (2) If you are a *member of a *GST group, you exceed the financial acquisitions threshold at a time during a particular month if, assuming that all the *financial acquisitions you or any other member of the group have made, or are likely to make, during that month and the next 11 months were made solely for a *creditable purpose, either or both of the following would apply:
 (a) the amount of all the input tax credits to which you or any other member of the group would be entitled for those acquisitions would exceed $150,000 or such other amount specified in the regulations;
 (b) the amount of the input tax credits referred to in paragraph (a) would be more than 10% of the total amount of the input tax credits to which you or any other member of the group would be entitled for all acquisitions and importations of any member of the group during those months (including the financial acquisitions).

189‑15  Meaning of financial acquisition
  A financial acquisition is an acquisition that relates to the making of a *financial supply (other than a financial supply consisting of a borrowing).

Division 190—90% owned groups of companies

190‑1  90% owned groups
  Two companies are members of the same 90% owned group if:
 (a) one of the companies has *at least a 90% stake in the other company; or
 (b) a third company has *at least a 90% stake in each of the two companies.

190‑5  When a company has at least a 90% stake in another company
  A *company (the holding company) has at least a 90% stake in another company (the subsidiary company) if the holding company:
 (a) controls, or is able to control, at least 90% of the voting power in the subsidiary company (whether directly, or indirectly through one or more interposed companies); and
 (b) has the right to receive (whether directly, or indirectly through one or more interposed companies) at least 90% of any *dividends that the subsidiary company may pay; and
 (c) has the right to receive (whether directly, or indirectly through one or more interposed companies) at least 90% of any distribution of capital of the subsidiary company.

Part 6‑3—Dictionary

Division 195—Dictionary

195‑1  Dictionary
  In this Act, except so far