Document ID: chunk:federal_register_of_legislation:C2010C00575:clause:1_19b:p2
Version: federal_register_of_legislation:C2010C00575
Segment Type: clause
Provision Reference: sch 1 cl 19B (pt 2/3)
Character Range: 8296–10680

apply to a supply in relation to which any entity is entitled to a special credit under section 19A.

Who is entitled to the special credit

 (6) The entity entitled to the special credit is the entity that held the car for supply by way of rental (whether or not the entity made the sale referred to in paragraph (1)(c)).

Amount of the special credit

 (7) The amount of the special credit in relation to the supply is an amount equal to 1/11 of the price of the supply.

 (8) However, if the car was covered by an eligible short‑term lease, the amount of the special credit is an amount equal to:
where:

exempt percentage is the exempt percentage specified in an agreement under subsection 15A(2) of the Sales Tax Assessment Act 1992 that was in force on 30 June 2000 and that applies to the eligible short‑term lease in question.

original special credit is the amount that would (but for this subsection) be the amount of the special credit.

Special rules for working out the price of the supply

 (9) If:
 (a) the entity entitled to the special credit was so entitled as the lessee of the car; and
 (b) the entity is unable to find out the price at which the car was sold;
the price of the supply is taken to be an amount worked out in the way determined in writing by the Commissioner.

 (10) If the supply of the car is part of another supply, the price of the supply of the car is an amount equal to the part of the price of the other supply that represents the supply of the car.

 (11) If the supply of the car is a supply to an insurer in settlement of a claim under an insurance policy, the price of the supply is taken to be the sum of:
 (a) if the entity entitled to the special credit receives one or more payments from the insurer in settlement of the claim—the amount of the payment, or the sum of the amounts of all of the payments, as the case may be; and
 (b) if the entity entitled to the special credit receives one or more supplies from the insurer in settlement of the claim—the value of the supply, or the total value of all of the supplies, as the case may be.

When the special credit can be claimed

 (12) The special credit is treated as though it were an input tax credit attributable to any one tax period of your choice ending:
 (a) on or after the day on which the Taxation Laws Amendment Act (No. 3) 2002 received the Royal Assent; and
 (b) on