A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 1 Indirect Tax Acts
Part 2 Amendment of the A New Tax System (Luxury Car Tax) Act 1999
182 Paragraph 15-40(2)(b)
Repeal the paragraph, substitute:
(b) the amount of luxury car tax (if any) that would be payable if the *price of the supply of the car (disregarding any previous *luxury car tax adjustments for the supply) was reduced by an amount equal to the sum of:
(i) the amount or amounts of the debt written off as bad; and
(ii) the amount of the debt that has been due for 12 months or more (other than amounts already written off).