Document ID: chunk:federal_register_of_legislation:C2025C00126:section:3:p6
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 3 (pt 6/9)
Character Range: 416938–419720

to tax periods
 (1) The tax period to which the input tax credit for a *creditable acquisition from your *associate without *consideration is attributable is the tax period in which the supply to which the acquisition relates first becomes a supply that is *connected with the indirect tax zone.
 (2) This section has effect despite section 29‑10 (which is about attributing input tax credits for creditable acquisitions).

Subdivision 72‑C—Supplies for inadequate consideration

72‑70  The value of taxable supplies for inadequate consideration
 (1) If a supply to your *associate for *consideration that is less than the *GST inclusive market value is a *taxable supply, its value is the *GST exclusive market value of the supply.
 (2) Subsection (1) does not apply if:
 (a) your associate is *registered or *required to be registered; and
 (b) your associate acquires the thing supplied solely for a *creditable purpose.
 (3) This section has effect despite section 9‑75 (which is about the value of taxable supplies).
 (4) This section does not apply to a supply that is a *taxable supply because of section 84‑5 (which is about offshore supplies).

Subdivision 72‑D—Application of this Division to certain sub‑entities

72‑90  GST branches
  This Division applies to a *GST branch of an entity as if the GST branch were an *associate of:
 (a) that entity; and
 (b) every other GST branch of that entity; and
 (c) any other associate of that entity.

72‑92  Non‑profit sub‑entities
  This Division applies to a *non‑profit sub‑entity of an entity as if the non‑profit sub‑entity were an *associate of:
 (a) that entity; and
 (b) every other non‑profit sub‑entity of that entity; and
 (c) any other associate of that entity.

72‑95  Commonwealth government entities
 (1) This Division applies to a *government entity that is:
 (a) a Department of State of the Commonwealth; or
 (b) a Department of the Parliament established under the Parliamentary Service Act 1999; or
 (c) an Executive Agency, or Statutory Agency, within the meaning of the Public Service Act 1999; or
 (d) an organisation, established by the Commonwealth, of a kind referred to in paragraph (e) of the definition of government entity in section 41 of the A New Tax System (Australian Business Number) Act 1999;
as if the government entity were an *associate of the Commonwealth, of every other government entity of a kind referred to in paragraph (a), (b), (c) or (d) and of any other associate of the Commonwealth.
 (2) However, this Division does not apply to a supply or acquisition if a payment for the supply or acquisition is covered by subsection 9‑17(3) or (4).

72‑100  State or Territory government entities
 (1) This Division applies to a *government entity that is:
 (a) a Department of State of a