A New Tax System (Goods and Services Tax) Act 1999

Chapter 4 - The special rules

Part 4-4 - Special rules mainly about net amounts and adjustments

The special rules in this Part mainly modify the operation of Part 2-4 , but they may affect other Parts of Chapter 2 in minor ways.

Division 133 - Providing additional consideration under gross-up clauses

133-10 Availability of adjustments under Division 19 for acquisitions

(1)
If:

(a) you have a * decreasing adjustment under this Division for an acquisition; and

(b) the circumstances that gave rise to the adjustment also constitute an * adjustment event ;

you do not have a decreasing adjustment under section 19-70 for the acquisition in relation to those circumstances.

(2)
This section has effect despite section 19-70 (which is about adjustments for acquisitions arising because of adjustment events).

ato