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  

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 134 - Third party payments  

134-20   Third party adjustment notes  

(1)  
A third party adjustment note for a *decreasing adjustment that you have under section 134-5 is a document:


(a) that is created by you; and


(b) a copy of which is given, in the circumstances set out in subsection (2), to the entity that received the payment that gave rise to the adjustment; and


(c) that sets out your *ABN; and


(d) that contains such other information as the Commissioner determines in writing; and


(e) that is in the *approved form.

However, the Commissioner may treat as a third party adjustment note a particular document that is not a third party adjustment note.

(2)  
You must give the copy of the document to the entity that received the payment:


(a) within 28 days after the entity requests you to give the copy; or


(b) if you become aware of the *adjustment before the copy is requested - within 28 days, or such other number of days as the Commissioner determines under subsection (4) or (6), after becoming aware of the adjustment.

(3)  
Subsection (2) does not apply to an *adjustment of an amount that does not exceed the amount provided for under subsection 29-80(2).

(4)  
The Commissioner may determine in writing that paragraph (2)(b) has effect, in relation to a particular document, as if the number of days referred to in that paragraph is the number of days specified in the determination.

(5)  
A determination made under subsection (4) is not a legislative instrument.

(6)  
The Commissioner may determine, by legislative instrument, circumstances in which paragraph (2)(b) has effect, in relation to those circumstances, as if the number of days referred to in that paragraph is the number of days specified in the determination.

(7)  
A determination made under subsection (4) has effect despite any determination made under subsection (6).




This information is provided by CCH Australia Limited Link opens in new window. View the disclaimer and notice of copyright.