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

Chapter 2 - The basic rules  

Part 2-4 - Net amounts and adjustments  

Division 19 - Adjustment events  

Subdivision 19-C - Adjustments for acquisitions  

19-75   Previously attributed input tax credit amounts  
The previously attributed input tax credit amount for an acquisition is:


(a) the amount of any input tax credit that was attributable to a tax period in respect of the acquisition; minus


(b) the sum of any * increasing adjustments , under this Subdivision or Division 21 , 129 , 131 or 134 , that were previously attributable to a tax period in respect of the acquisition; plus


(c) the sum of any * decreasing adjustments , under this Subdivision or Division 21 , 129 or 133 , that were previously attributable to a tax period in respect of the acquisition.




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