Taxation Laws Amendment Act (No. 8) 2000 (156 of 2000)

Schedule 4   Adjustments

A New Tax System (Goods and Services Tax) Act 1999

17   Subsection 147-20(1)

Repeal the subsection, substitute:

(1) If:

(a) an*adjustment relates to a supply, acquisition or importation that an*incapacitated entity made before a*representative of the incapacitated entity was appointed; and

(b) the adjustment arises after that appointment; and

(c) in the case of an*increasing adjustment - the representative gives the Commissioner written notice that:

(i) states that the adjustment has arisen in these circumstances; and

(ii) specifies the amount of the adjustment;

the adjustment is to be treated as if:

(d) the representative did not have the adjustment; and

(e) the incapacitated entity had the adjustment.