A New Tax System (Goods and Services Tax) Act 1999
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 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.
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The amount of the increasing adjustment is as follows:
|
1
10 |
× | Supply price | × | Proportion of non-creditable use |
where:
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.
supply price
means the *
price
of the supply in relation to which the increasing adjustment arises.
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