Commonwealth Consolidated Acts Commonwealth Consolidated Acts1 Section 8
Insert:
"GST" has the same meaning as in the GST Act.
"GST Act" means the A New Tax System (Goods and Services Tax) Act 1999 , as it applies because of Division 177 of that Act.
Note: Under Division 177 of the GST Act, that Act applies notionally to the Commonwealth and Commonwealth entities. They are therefore notionally liable to pay GST, are notionally entitled to input tax credits and notionally have adjustments.
"GST" qualifying amount : see subsection 74A(3).
2 Section 8 ( paragraph ( b) of the definition of reporting period )
After "prescribed by", insert "an Act or".
3 Paragraph 35(1)(a)
After "corporate plan", insert "(however described)".
4 Section 73 (paragraph relating to Division 2)
After "certain amounts", insert "or make payments relating to GST".
5 After section 74
Insert:
74A Recoverable GST for non - corporate Commonwealth entities
Recoverable GST on acquisitions
(1) If:
(a) a non - corporate Commonwealth entity makes a payment in relation to an acquisition; and
(b) the payment is made in reliance on an appropriation that is limited as to amount; and
(c) a GST qualifying amount (see subsection ( 3)) arises for that acquisition;
then the amount of the GST qualifying amount may be credited to the appropriation.
Recoverable GST on importations
(2) If:
(a) a non - corporate Commonwealth entity makes a payment of GST on an importation; and
(b) the payment is made in reliance on an appropriation that is limited as to amount; and
(c) a GST qualifying amount (see subsection ( 3)) arise s for that importation;
then the amount of the GST qualifying amount may be credited to the appropriation.
Meaning of GST qualifying amount
(3) A GST qualifying amount is:
(a) an input tax credit (within the meaning of the GST Act); or
(b) a decreasing adjustment (within the meaning of the GST Act).
When crediting of appropriation takes effect
(4) The crediting of an amount in accordance with subsection ( 1) or (2) takes effect at the time an entry recording the GST qualifying amount is made in the accounts and records of the non - corporate Commonwealth entity.
Rules about GST arrangements
(5) The rules may prescribe matters relating to GST arrangements for non - corporate Commonwealth entities.
6 Subsection 75(2)
Repeal the subsection ( not including the heading), substitute:
(2) The Finance Minister may determine that the operation of one or more Schedules to one or more Appropriation Acts is modified in a specified way. The modification must be related to the transfer of function.
7 Subsection 75(3)
Omit "the Schedule concerned were amended", substitute "the operation of the Schedule concerned were modified".
8 Paragraph 95(1)(a)
After "corporate plan", insert "(however described)".
Part 2 -- Application of amendments
9 Application of amendments
(1) The amendments made by items 1, 4 and 5 of this Schedule apply in relation to payments that are made on or after 1 July 201 5 .
(2) The amendments made by items 6 and 7 of this Schedule apply to determinations made after the commencement of this Schedule in relation to transfers of functions occurring before or after that time.