Document ID: chunk:federal_register_of_legislation:C2004A00749:clause:3_16
Version: federal_register_of_legislation:C2004A00749
Segment Type: clause
Provision Reference: sch 3 cl 16
Character Range: 33506–34308

16  Subsections 71‑10(1) and (2)
Repeal the subsections, substitute:

 (1) An importation that solely or partly relates to making supplies that are *input taxed is not a *creditable importation if:
 (a) the importation would (but for this section) be an importation of a kind referred to in paragraph 149A(2)(b) of the Fringe Benefits Tax Assessment Act 1986; and
 (b) the importation specifically relates to the provision of a particular benefit (within the meaning of that Act) in respect of which *fringe benefits tax is or will be payable.

 (2) However, this section does not apply to an importation if:
 (a) the only reason it relates to making supplies that are *input taxed is because it relates to making *financial supplies; and
 (b) you do not *exceed the financial acquisitions threshold.