Document ID: chunk:federal_register_of_legislation:C2020A00064:clause:11_146
Version: federal_register_of_legislation:C2020A00064
Segment Type: clause
Provision Reference: sch 11 cl 146
Character Range: 55252–55918

146  Subsection 79‑100(1)
Omit all the words after "third party scheme for a *financial year", substitute:
  is:
 (a) if paragraph (b) does not apply—the same fraction as the average input tax credit fraction for the scheme for the preceding financial year; or
 (b) if, under subsection (3), the Minister determines the average input tax credit fraction for the scheme for the financial year—that fraction.
Note: The average input tax credit fraction for financial years beginning on or before 1 July 2006 was worked out under this section as in force before the commencement of item 146 of Schedule 3 to the Treasury Laws Amendment (2019 Measures No. 3) Act 2020.