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).