In The Trustee for SBM Trust and Commissioner of Taxation  AATA 174 the Tribunal found that the effect of s 93-5 of the GST Act was that the applicant was not entitled to amend its BAS to claim input tax credits that related to acquisitions made more than four years ago. The Tribunal also found that it did not matter that the acquisitions were made before the commencement date of s 93-5.
The Tribunal accepted the Commissioner’s argument that the effect of s 93-5(a) was that the applicant “ceased to be entitled” to the input tax credits as soon as Division 93 became law – this was because the taxpayer had not taken those credits into account in the tax period in which the acquisitions were made or any other tax period during the subsequent four years from the tax period in which the acquisitions were made.
The Tribunal rejected the applicant’s submission that s 93-5 applies only to acquisitions made after 12 May 2009 (the date of its application). This is because the provision does not fix on the date of the acquisition, but on the timing of the lodgement of the GST return.