Commonwealth Consolidated Acts

A NEW TAX SYSTEM (GOODS AND SERVICES TAX) ACT 1999 - SECT 60.20

  (1)   If, before a * company is in existence, you make an acquisition or importation:

  (a)   for the purpose of bringing the company into existence; or

  (b)   for the purpose of the company * carrying on an * enterprise after it is in existence;

you acquire or import the thing for a creditable purpose only to the extent that you acquire or import it for either or both of those purposes.

  (2)   However, you do not acquire or import the thing for a creditable purpose to the extent that:

  (a)   the acquisition or importation relates (directly or indirectly) to the company making supplies that would be * input taxed; or

  (b)   the acquisition or importation is of a private or domestic nature.

  (3)   An acquisition or importation is not treated, for the purposes of paragraph   (2)(a), as relating to making supplies that would be * input taxed to the extent that the supply is made through an * enterprise, or a part of an enterprise, that the company will * carry on outside the indirect tax zone.

  (4)   This section has effect despite sections   11 - 15 and 15 - 10 (which are about creditable purpose).