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

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  


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

Division 75 - Sale of freehold interests etc.  

75-25   Adjustments relating to bad debts  


(a) you have an * adjustment under Division 21 relating to a supply that you made that is a * taxable supply of * real property under the * margin scheme ; and

(b) the amount of the adjustment would (apart from this section) exceed 1/11 of the * margin for the supply;

the amount of the adjustment is 1/11 of the margin for the supply.

This section has effect despite sections 21-5 and 21-10 (which are about adjustments for writing off and recovering suppliers' bad debts).

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