Income Tax Assessment Act 1997



Division 17 - Effect of GST etc. on assessable income  

SECTION 17-10   Certain decreasing adjustments  

An amount of a * decreasing adjustment that arises under Division 129 or 132 of the * GST Act is assessable income , unless the entity that has the adjustment is an * exempt entity.


However, the amount is not assessable income to the extent that, because it becomes a component of a * net input tax credit, a reduction is made under section 103-30 (reduction of cost base etc. by net input tax credits).


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