A New Tax System (Goods and Services Tax) Act 1999
Note:Division 136 - Bad debts relating to transactions that are not taxable or creditable to the fullest extent
The amount of a * decreasing adjustment that you have under section 21-5 , relating to a * taxable supply that is * taxable at less than 1/11 of the price , is worked out under this section and not under section 21-5 . (2)
This is how to work out the amount: Method statement
Work out the amount of GST (if any) that was payable on the supply, taking into account any previous * adjustments for the supply. This amount is the previous GST amount .
Subtract the step 2 amount from the * price of the supply.
Work out the amount of GST (if any), taking into account any previous * adjustments for the supply (but not adjustments relating to bad debts or debts overdue), that would be payable on the supply if the * price of the supply were the step 3 amount. This amount of GST is the adjusted GST amount .
Subtract the adjusted GST amount from the previous GST amount.