Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) You cannot have an * adjustment under Division 21 in relation to a * gambling supply.
(2) If, in a tax period, you write off as bad the whole or part of the * consideration for a * gambling supply that is due as a debt, but has not been received, the amount written off is to be added to your total monetary prizes, referred to in subsection 126 - 10(1), for that tax period.
(3) However, if, in a tax period, you recover the whole or part of the amount written off, the amount recovered is to be added to your total amounts wagered, referred to in subsection 126 - 10(1), for that tax period.
(4) This section has effect despite sections 21 - 5 and
21 - 10 (which are about adjustments for writing off and recovering
suppliers' bad debts).