A New Tax System (Indirect Tax and Consequential Amendments) Act 1999 (176 of 1999)
Schedule 3 Income Tax Assessment Act 1997
Part 1 General
66 Subsection 995-1(1)
Insert:
net input tax credit : Your net input tax credit for an *acquisition or *importation is:
(a) the amount of any *input tax credit to which you are entitled for the acquisition or *importation; minus
(b) the sum of any *increasing adjustments that you have relating to the acquisition or *importation; plus
(c) the sum of any *decreasing adjustments that you have relating to the acquisition or *importation.
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