Document ID: chunk:federal_register_of_legislation:C2025C00126:section:5:p20
Version: federal_register_of_legislation:C2025C00126
Segment Type: section
Provision Reference: s 5 (pt 20/33)
Character Range: 580927–583626

on a cash basis during that period; and
 (d) immediately after the amalgamation, the *amalgamated company does not account on a cash basis;
the GST, input tax credit or adjustment (as the case requires) is attributable to the first tax period applying to the amalgamated company that ends after the amalgamation.
 (2) If:
 (a) immediately before *amalgamation, an *amalgamating company *accounted on a cash basis; and
 (b) GST payable by the company on a *taxable supply, an input tax credit to which the company was entitled for a *creditable acquisition, or an *adjustment that the company had, was only to some extent attributable, before the amalgamation, to any of the tax periods applying to the company; and
 (c) the GST, input tax credit or adjustment would have been solely attributable to such a tax period if the company had not accounted on a cash basis during that period; and
 (d) immediately after the amalgamation, the *amalgamated company does not account on a cash basis;
the GST, input tax credit or adjustment (as the case requires) is attributable to the first tax period applying to the amalgamated company that ends after the amalgamation, but only to the extent that it was not attributable to any of the tax periods applying to the amalgamating company.
 (3) This section has effect despite sections 29‑5, 29‑10 and 29‑20 (which are about attributing GST on supplies, input tax credits for acquisitions, and adjustments).

Division 93—Time limit on entitlements to input tax credits

93‑1  What this Division is about
      Your entitlements to input tax credits for creditable acquisitions cease unless they are included in your assessed net amounts within a limited period (generally 4 years).

93‑5  Time limit on entitlements to input tax credits
 (1) You cease to be entitled to an input tax credit for a *creditable acquisition to the extent that the input tax credit has not been taken into account, in an *assessment of a *net amount of yours, during the period of 4 years after the day on which you were required to give to the Commissioner a *GST return for the tax period to which the input tax credit would be attributable under subsection 29‑10(1) or (2).
Note: Section 93‑10 sets out circumstances in which your entitlement to the input tax credit does not cease under this section.
 (2) This section has effect despite section 11‑20 (which is about entitlement to input tax credits).
Note: You must hold a valid tax invoice relating to a creditable acquisition to be entitled to have an input tax credit for that acquisition taken into account in working out your assessed net amount for a tax period: see subsection 29‑10(3).

93‑10  Exceptions to time limit