A New Tax System (Goods and Services Tax) Act 1999
Note:Division 80 - Settlement sharing arrangements Subdivision 80-B - Nominal defendant settlement sharing arrangements 80-70 Managing operator ' s increasing adjustment where contributing operator ' s payment (1)
(a) a * contributing operator ' s payment is made; and
(b) as a result of section 80-60 , there was a * decreasing adjustment for the * managing operator under Division 79 in relation to the * managing operator ' s payment or supply ;
there is an increasing adjustment for the managing operator of the following amount:
Managing operator ' s settlement
amount (see subsection (2))
|× *Decreasing adjustment|
The managing operator ' s settlement amount mentioned in subsection (1) is worked out using this method statement. Method statement
If, in relation to the * managing operator ' s payment or supply , any payments of an excess were made to the * managing operator , subtract from the step 1 amount the sum of all those payments (except to the extent that they are payments of excess to which section 78-18 or 79-55 applies).
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