Tax Laws Amendment (Small Business Measures) Act 2004 (134 of 2004)

Schedule 2   Annual apportionment of creditable purpose

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

15   Subsection 132-5(2) (paragraph (b) of the definition of adjusted input tax credit )

Repeal the paragraph, substitute:

(b) the sum of:

(i) any *increasing adjustments, under Subdivision 19-C or Division 129, that were previously attributable to a tax period in respect of the acquisition or importation; and

(ii) any increasing adjustment under Division 131 that has been previously, is or will be attributable to a tax period in respect of the acquisition or importation; plus