Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 153.5

  (1)   If:

  (a)   you are entitled to the input tax credit for a * creditable acquisition made through an agent; and

  (b)   neither you nor your agent holds a * tax invoice for the acquisition when you give to the Commissioner a * GST return for the tax period to which the input tax credit on the acquisition would otherwise be attributable;

then:

  (c)   the input tax credit (including any part of the input tax credit) is not attributable to that tax period; and

  (d)   the input tax credit (or the part of the input tax credit) is attributable to the first tax period for which you give to the Commissioner a GST return at a time when you or your agent holds that tax invoice.

  (2)   This section has effect despite subsection   29 - 10(3) (which is about the requirement to hold a tax invoice).