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 136 - Bad debts relating to transactions that are not taxable or creditable to the fullest extent  

Subdivision 136-B - Bad debts relating to transactions that are taxable or creditable at less than 1/11 of the price  

136-50   Meanings of taxable at less than 1/11 of the price and creditable at less than 1/11 of the consideration  

(1)  
A * taxable supply is taxable at less than 1/11 of the price if the amount of GST payable on the supply is an amount that is less than 1/11 of the *price of the supply.

(2)  
A * creditable acquisition is creditable at less than 1/11 of the consideration if the * taxable supply to which it relates is * taxable at less than 1/11 of the price .


 

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