Income Tax Assessment Act 1997

CHAPTER 2 - LIABILITY RULES OF GENERAL APPLICATION  

PART 2-1 - ASSESSABLE INCOME  

Division 17 - Effect of GST etc. on assessable income  

SECTION 17-5  

17-5   GST and increasing adjustments  

An amount is not assessable income, and is not ^* exempt income, to the extent that it includes an amount relating to:

(a) ^* GST payable on a ^* taxable supply; or

(b) an ^* increasing adjustment that relates to a ^* supply; or

(c) an ^* increasing adjustment that:

(i) relates to an ^* acquisition; and

(ii) arises in circumstances that also give rise to a ^* recoupment that is included in assessable income.