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

Chapter 4 - The special rules  

Part 4-4 - Special rules mainly about net amounts and adjustments  

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 reference

Subdivision 136-B - Bad debts relating to transactions that are taxable or creditable at less than 1/11 of the price    View history reference

136-50  Meanings of taxable at less than 1/11 of the price and creditable at less than 1/11 of the consideration  

 View history reference

(1)  

A *taxable supply is taxable at less than 1/11 of the price if the amount of GST payable on the supply is an amount that is less than 1/11 of the *price of the supply.

(2)  

A *creditable acquisition is creditable at less than 1/11 of the consideration if the *taxable supply to which it relates is *taxable at less than 1/11 of the price.


 



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