A New Tax System (Goods and Services Tax) Act 1999
Note:Division 135 - Supplies of going concerns 135-5 Initial adjustments for supplies of going concerns (1)
You have an increasing adjustment if:
(a) you are the * recipient of a * supply of a going concern , or a supply that is * GST-free under section 38-480 ; and
(b) you intend that some or all of the supplies made through the * enterprise to which the supply relates will be supplies that are neither *taxable supplies nor *GST-free supplies.
The amount of the increasing adjustment is as follows:
|×||Supply price||×||Proportion of non-creditable use|
proportion of non-creditable use
is the proportion of all the supplies made through the * enterprise that you intend will be supplies that are neither * taxable supplies nor * GST-free supplies, expressed as a percentage worked out on the basis of the * prices of those supplies.
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