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 129 - Changes in the extent of creditable purpose  

Subdivision 129-A - General  

129-5   Adjustments arising under this Division  

(1)    
An * adjustment can arise under this Division for:


(a) an acquisition, even if it is not a * creditable acquisition ; or


(b) an importation, even if it is not a * creditable importation ;

in respect of any * adjustment period for the acquisition or importation.


(2)    


However, in determining:


(a) whether an adjustment under this Division arises; or


(b) the amount of such an * adjustment ;

disregard any change in the extent to which the thing acquired or imported is * applied in making * financial supplies , unless you * exceed the financial acquisitions threshold .



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