A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 90.25 Entitlement after amalgamation to input tax credits for amalgamating company's acquisitions
A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 90.25
Entitlement after amalgamation to input tax credits for amalgamating company's acquisitions(1) An * amalgamated company is entitled to the input tax credit for a * creditable acquisition if:
(a) apart from the * amalgamation, any of the * amalgamating companies would have been entitled to the input tax credit; and
(b) the input tax credit was not attributable, before the amalgamation, to a tax period applying to the amalgamating company.
(2) This section has effect despite section 11 - 20
(which is about who is entitled to input tax credits).