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A New Tax System (Goods and Services Tax) Act 1999

Chapter 2 - The basic rules  

Part 2-4 - Net amounts and adjustments  

Division 21 - Bad debts  

21-10  Recovering amounts previously written off (taxable supplies)  

You have an increasing adjustment if:

(a) you made a * taxable supply in relation to which you had a * decreasing adjustment under section 21-5 for a debt; and

(b) you recover the whole or a part of the amount written off, or the whole or a part of the amount that has been * overdue for 12 months or more, as the case requires.
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The amount of the increasing adjustment is 1/11 of the amount recovered.


This information is provided by CCH Australia Limited. View the disclaimer and notice of copyright.
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