Document ID: chunk:federal_register_of_legislation:C2025C00126:section:10:p1
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 10 (pt 1/3)
Character Range: 80648–83427

10                          Excess GST                                                          Division 142

Note: There are other laws that may affect the amount of GST on taxable supplies. 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 11—Creditable acquisitions

11‑1  What this Division is about
       You are entitled to input tax credits for your creditable acquisitions. This Division defines creditable acquisitions, states who is entitled to the input tax credits and describes how to work out the input tax credits on acquisitions.

11‑5  What is a creditable acquisition?
  You make a creditable acquisition if:
 (a) you acquire anything solely or partly for a *creditable purpose; and
 (b) the supply of the thing to you is a *taxable supply; and
 (c) you provide, or are liable to provide, *consideration for the supply; and
 (d) you are *registered, or *required to be registered.

11‑10  Meaning of acquisition
 (1) An acquisition is any form of acquisition whatsoever.
 (2) Without limiting subsection (1), acquisition includes any of these:
 (a) an acquisition of goods;
 (b) an acquisition of services;
 (c) a receipt of advice or information;
 (d) an acceptance of a grant, assignment or surrender of *real property;
 (e) an acceptance of a grant, transfer, assignment or surrender of any right;
 (f) an acquisition of something the supply of which is a *financial supply;
 (g) an acquisition of a right to require another person:
 (i) to do anything; or
 (ii) to refrain from an act; or
 (iii) to tolerate an act or situation;
 (h) any combination of any 2 or more of the matters referred to in paragraphs (a) to (g).
 (3) However, acquisition does not include:
 (a) an acquisition of *money unless the money is provided as *consideration for a supply that is a supply of money or *digital currency; or
 (b) an acquisition of digital currency unless the digital currency is provided as consideration for a supply that is a supply of digital currency or money.

11‑15  Meaning of creditable purpose
 (1) You acquire a thing for a creditable purpose to the extent that you acquire it in *carrying on your *enterprise.
 (2) However, you do not acquire the thing for a creditable purpose to the extent that:
 (a) the acquisition relates to making supplies that would be *input taxed; or
 (b) the acquisition is of a private or domestic nature.
 (3) An acquisition 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 acquisition is