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 136 - Bad debts relating to transactions that are not taxable or creditable to the fullest extent
View history note
Hide history noteIf you have an * adjustment under section 21-5 , 21-10 , 136-30 or 136-35 in relation to a supply that was partly a * taxable supply , the amount of that adjustment is reduced to the following amount:
| Full adjustment × Taxable proportion |
where:
full adjustment is what would be the amount of the adjustment worked out under section 21-5 , 21-10 , 136-30 or 136-35 if this section did not apply.
taxable proportion is the proportion of the * value of the supply (worked out as if it were solely a taxable supply) that the taxable supply represents.
Example:
If the amount of an adjustment under section 21-5 would be $100 but the supply was only 80% taxable, the amount of the adjustment is $80.
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