How can I claim input tax credits if I exceed the financial acquisitions threshold?
Even if you exceed the financial acquisitions threshold, a reduced input tax credit is still available to the extent that the acquisition is a reduced credit acquisition. Specific acquisitions that relate to making financial supplies can give rise to an entitlement to a reduced input tax credit of 75% of any GST paid. These specific acquisitions are called reduced credit acquisitions. The GST regulations contain the complete list of reduced credit acquisitions.
Related Questions
- In relation to this test, how should the words "10% of the total amount of input tax credits to which you would be entitled ... (including financial acquisitions)" be interpreted?
- How can I claim input tax credits if I exceed the financial acquisitions threshold?
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