A New Tax System (Goods and Services Tax) Act 1999
Chapter 4
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The special rules
Part 4-4
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Special rules mainly about net amounts and adjustments
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 ;
This section has effect despite section 19-70 (which is about adjustments for acquisitions arising because of adjustment events).
Note:
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).
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