Net appropriations for capital injections
9A Net appropriations for capital injections
An appropriation for a capital injection may be stated to be made for, or partly for, the net cost of purchasing or developing assets.
Despite section 6, if an appropriation is stated to be made for, or partly for, the net cost of purchasing or developing assets, the value of the input tax credits to which the relevant entity is entitled for taxable supplies in relation to purchasing or developing the assets may be applied by the entity in paying the expenses and liabilities of the entity in purchasing or developing the assets.
In this section:
relevant entity, in relation to an appropriation for a capital injection, means the territory entity that is to undertake the purchasing or developing of assets for which the appropriation is made.
This Act’s bill:Explanatory statement
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