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

Chapter 4 - The special rules  

Part 4-2 - Special rules mainly about supplies and acquisitions  

Note:

The special rules in this Part mainly modify the operation of Part 2-2, but they may affect other Parts of Chapter 2 in minor ways.

Division 75 - Sale of freehold interests etc.  

75-27  Decreasing adjustment for later payment of consideration  

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(1)  

You have a decreasing adjustment if:


(a) section 75-12 applied to working out the *margin for a *taxable supply of *real property that you made; and


(b) after you made the supply, a further amount of the *consideration was paid for the earlier supply referred to in that section.

(2)  

The amount of the decreasing adjustment is an amount equal to 1/11 of the further amount of the *consideration paid.


 



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