A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)

Schedule 3   Income Tax Assessment Act 1997

Part 1   General

65   Subsection 995-1(1)

Insert:

net GST : Your net GST for a *supply, is:

(a) the *GST payable by you on the supply; plus

(b) the sum of any *increasing adjustments that you have relating to the supply; minus

(c) the sum of any *decreasing adjustments that you have relating to the supply.