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 134 - Third party payments  

134-15   Attribution of decreasing adjustments  

(1)    
If:

(a) you have a * decreasing adjustment under section 134-5 ; and

(b) you do not hold a * third party adjustment note for the adjustment when you give to the Commissioner a * GST return for the tax period to which the adjustment (or any part of the adjustment) would otherwise be attributable;

then:

(c) the adjustment (including any part of the adjustment) is not attributable to that tax period; and

(d) the adjustment (or part) is attributable to the first tax period for which you give to the Commissioner a GST return at a time when you hold that third party adjustment note.

However, this subsection does not apply in circumstances of a kind determined by the Commissioner, by legislative instrument, to be circumstances in which the requirement for an adjustment note does not apply.

Note:

For the giving of GST returns to the Commissioner, see Division 31 .

(2)    
This section does not apply to a * decreasing adjustment of an amount that does not exceed the amount provided for under subsection 29-80(2) .

(3)    
This section has effect despite section 29-20 (which is about attributing adjustments).