A T O home
Legal Database
Access the database 
Browse database
View last document
Quick access 
View legislation
View a document
Email Cross Reference Material Previous/Next Section Contents Previous/Next Result
Printable version

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  


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 137 - Stock on hand on becoming registered etc.    View history reference

137-5  Adjustments for stock on hand on becoming registered etc.  

 View history reference


You have a decreasing adjustment if:

(a) you become * registered or * required to be registered ; and

(b) at that time, you hold stock for the purpose of sale or exchange, or for use as raw materials, in *carrying on your * enterprise ; and

(c) you had acquired the stock solely or partly for a * creditable purpose .


However, this section does not apply if:

(a) you were entitled to an input tax credit for the acquisition; and

(b) you have not had a * increasing adjustment under Division 138 (cessation of registration) relating solely or partly to the stock.


The amount of the decreasing adjustment is an amount equal to what would have been the * previously attributed input tax credit amount for the acquisition if you had been * registered at the time of the acquisition.


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